Kobe Steel Co., Ltd .: A large deficit of 68 billion yen in the last fiscal year Decrease in demand for steel products May 11 19:23
A major steel maker Kobe Steel Co., Ltd. posted a loss of 68 billion yen in its final year's financial results for the last year. This is the second largest deficit since 1994 when the Great Hanshin-Awaji Earthquake was affected by the declining demand for steel products due to trade friction between the United States and China.
According to Kobe Steel's announcement on the 11th, and according to the financial results for one year until March, sales decreased by 5.2% from the previous year to 1.8869 trillion yen, and the final loss was 68 billion yen. ..
Until now, we had been forecasting a deficit of 15 billion yen, but due to the trade friction between the United States and China, demand for steel products for automobiles overseas fell, and profits from businesses for aircraft and shipbuilding, etc. Deficit increased as a result of the decline in profitability and the recording of a loss.
This deficit amount is the second largest since Kobe Steel Co., Ltd., which recorded a deficit of 92.4 billion yen due to the Great Hanshin-Awaji Earthquake.
In addition, the outlook for this fiscal year is undecided, because the impact of the spread of the new coronavirus infection cannot be foreseen at this time.
At the financial results briefing over the telephone, Shigehiko Katsukawa, Senior Managing Director of Kobe Steel, said, "In addition to securing cash deposits of 146 billion yen at hand, we have set a loan line of 150 billion yen for banks. I would like to make every effort to raise funds. "