Daiki Aluminium Industry Co., Ltd., a leading secondary aluminum producer in Japan, reported its net sales dropped by 0.7% year on year to 62.6 billion yen, and net income slid by 57.5% year on year to 524 million yen for the first quarter ended June 30, 2024.

During the period, the profit margin was at 0.8%, down from 2% in the same period a year ago. The equity ratio slightly decreased from 51.4% to 50.1%, showing a slight change in financial status.

Despite a decrease in its financial results caused by sluggish domestic demand for aluminum, DAIKI Aluminium said the full year's sales and profits will grow.

DAIKI Aluminium and Aluminium Bahrain B.S.C. have recently signed a strategic contract for the construction of a sustainable aluminum dross processing facility in Bahrain. The new plant will use state-of-the-art technologies for lightweight metal recycling, which can greatly reduce waste and carbon emissions.