Kobe Steel's earnings forecast revised down to final deficit of 15 billion yen February 6 20:21
Kobe Steel, a major steel maker, forecasts that demand for its mainstay steel products will fall below expectations due to trade friction between the United States and China. He revealed the prospect of further expansion than expected.
Kobe Steel announced on June 6 that its nine-month results from April to December last year showed sales of 4.1388 trillion yen, down 4.1% from the same period of the previous year, and net profit of 84% It decreased to 7.2 billion yen.
This was due to a decrease in overseas demand for steel products for automobiles and aluminum products for semiconductors due to the trade friction between the United States and China.
In addition, as demand for these products is expected to fall further than originally expected, the forecast for the fiscal year ending March is revised downward, and the final deficit will increase to 15 billion yen from the previous forecast The outlook was made clear.
Kobe Steel's Managing Director Shishihiko Katsukawa said, “With the recovery of demand for steel products unpredictable, the risk of the spread of new coronavirus infections has increased the business, and the business environment has continued to be severe. In order to achieve profitability, we will consider measures to reduce personnel costs. "