Final deficit of Kobe Steel 13.1 billion yen 18:14 on August 6 due to the influence of the new corona

Kobe Steel, a major steel maker, reported that the final profit and loss for the three months to June was a loss of 13.1 billion yen due to a decrease in demand for steel for automobiles due to the spread of the new coronavirus. This is the second consecutive year of deficit in the financial results.

As for Kobe Steel, the financial results of the entire group for the three months to June were 194.1 billion yen with a net loss of 374.1 billion yen, a decrease of 19% from the same period of the previous year, and the final loss was 13.1 billion yen. This is the second consecutive year of deficit.

This is because the spread of the new coronavirus caused a decline in production at automobile manufacturers, which are our main customers, and a significant decrease in demand for steel and aluminum materials.

On the other hand, regarding the business outlook for the current fiscal year up to March next year, we expect that the final loss will be a deficit of 35 billion yen and will be in the red for the second year in a row for the full year, but we will sell the shares we hold and idle land. As a result, the deficit amount is expected to improve by 33 billion yen from the previous year.

Shishihiko Katsukawa, Managing Director of Kobe Steel, said, "We would like to carry out structural reforms that do not have a sanctuary, promote further cost reductions to improve profitability, and consider business sales."

In the steel industry, the demand for steel products has dropped significantly due to the spread of infections, and the largest Japanese steel company also fell into a final deficit of 42 billion yen for the three months until June, causing a series of difficult financial statements. I'm out.