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Kobe Steel Profit Drops 68% in Fiscal Q1

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Kobe Steel (TYO:5406) posted a 68% year-over-year fall in profit attributable to owners of the parent to 12.2 billion yen for the three months ended June 30 from 38.6 billion yen.

The steelmaker's basic earnings per share declined to 30.87 yen from 98.03 yen a year ago, according to a Tokyo Stock Exchange filing on Wednesday.

Net sales jumped 1.6% to 578.4 billion yen in the fiscal first quarter from 569.1 billion yen in the year-ago period.

For the fiscal year ending March 31, 2027, the company forecasts an attributable profit of 100 billion yen, basic EPS of 252.09 yen, and net sales of 2.690 trillion yen.

The company plans to pay a second-quarter dividend of 40 yen per share for the current fiscal year.

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