Kobe Steel announces unrealized gains
and losses on listed equity securities
TOKYO (April 28, 1998) -- Kobe Steel, Ltd. reports unrealized loss of 10,493 million yen on listed equity securities held at March 31, 1998 (fiscal 1997). The Company recorded unrealized gain of 21,479 million yen, derived from subtracting the 10,493 million yen loss from total unrealized gain of 31,973 million yen on listed equity securities.
The unrealized loss is the difference between the balance sheet amount, or book value, of 24,454 million yen, calculated at moving average cost, and the market value of 13,960 million yen. Listed equity securities are securities in which Kobe Steel's ownership equals or exceeds 25%, excluding subsidiaries.
| A | Unrealized loss on listed equity securities in fiscal 1997 | 10,493 million yen |
| B | Total assets in fiscal 1996 (A/B x 100) | 1,777,349 million yen (0.6%) |
| C | Ordinary income in fiscal 1996 (A/C x 100) |
26,665 million yen (39.4%) |
| D | Net income in fiscal 1996 (A/D x 100) | 21,689 million yen (48.4%) |
| E | Total unrealized gain on listed equity securities in fiscal 1997 | 31,973 million yen |
| F | Unrealized gain excluding unrealized loss (E-A) | 21,479 million yen |
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