Kobe Steel to revise prices of aluminum products

Kobe Steel, Ltd. announces that it has decided to revise the prices of its aluminum products.

In response to recent increases in energy costs such as electricity and gas, as well as soaring raw and other material prices, the Company has worked to pass them on to product prices, but is still unable to cover the rising costs. Transportation, outsourcing, materials, and labor costs, among others, are expected to rise further as the government implements Work Style Reform Act^* in the transportation, logistics, and construction industries beginning in fiscal 2024. Along with this, processing and equipment maintenance costs are also expected to rise even further. Given the circumstances, we believe it is critical to ensure a consistently reproducible level of profits in order to maintain a sustainable production system.

Despite our earnest efforts to control costs, the situation remains challenging for us to absorb the broad range of cost increases solely through our own efforts, leading us to the conclusion that it is unavoidable to pass them on to product prices in order to continue to fulfill our supply responsibilities into the future. We hope that this price revision will allow us to provide high-quality products on a consistent basis and thereby provide solutions to the needs of society.

Overview of this price revision

* Act on the Arrangement of Related Acts to Promote Work Style Reform