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Annual Report

KOBE STEEL ANNUAL REPORT 1997
Year Ended March 31,1997

Kobe Steel, Ltd., is a diversified industrial corporation. In addition to being one of Japan's leading steelmakers, it is a major domestic supplier of aluminum and copper products, industrial and construction machinery, and plant engineering services.

The Company also has businesses in such high-technology areas as electronics, information systems, factory automation, and robotics.

Kobe Steel is the parent company of the Kobe Steel Group, which includes numerous overseas subsidiaries and affiliates in Europe, the Americas, and Asia as well as companies in Japan.
Consolidated Financial Highlights
A Message from the President
Review of Operations
Iron and Steel Sector
Aluminum and Copper Sector
Machinery Sector
Electronics and Information Sector
Other Businesses Sector
Consolidated Financial Statements
Consolidated Five-Year Summary
Consolidated Financial Review
Consolidated Balance Sheets
Consolidated Statements of Income
Consolidated Statements of Stockholders' Equity
Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements
Report of Independent Certified Public Accountants
Non-Consolidated
Non-Consolidated Five-Year Summary
Non-Consolidated Financial Review
Non-Consolidated Balance Sheets
Non-Consolidated Statements of Income
Non-Consolidated Statements of Stockholders' Equity
Non-Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements
Report of Independent Certified Public Accountants
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