Kobe Steel's financial results estimates for fiscal 1995
TOKYO (March 7, 1996) - Kobe Steel, Ltd. announced today financial results
estimates for fiscal 1995, ending March 31, 1996.
In fiscal 1995, the Japanese economy continued to be sluggish, although it
began to slowly recover due to improvements in the economic environment.
The high yen was corrected from the summer; the official discount rate was
reduced; and government economic measures were implemented. However,
the economy is still not out of the slump.
In this climate, Kobe Steel has been placing its full effort into restoration and
reconstruction from the Great Hanshin Earthquake. The company has also
been focusing on improving profitability by increasing orders and sales, while
rationalizing operations and lowering costs.
As a result, Kobe Steel forecasts non-consolidated net sales of roughly 1,145
billion yen, up 80 billion yen from the previous fiscal year. In the Iron and
Steel Sector, which was affected by the Great Hanshin Earthquake, production
and sales volume are anticipated to recover in the fiscal period. Sales are
also forecast to increase in the Aluminum and Copper Sector and the
Machinery Sector in the fiscal year.
Non-consolidated ordinary income is estimated to be around 36 billion yen due
to steady recovery from the earthquake and restructuring measures, as well as
firm performance in the Machinery Sector.
Kobe Steel anticipates extraordinary loss of roughly 50 billion yen arising from
the liquidation of a subsidiary and restructuring costs including special
retirement benefits. Extraordinary income from the sale of land and securities
is forecast to total approximately 84 billion yen.
Net income is estimated to be about 67 billion yen.
Kobe Steel decided at a board of directors' meeting yesterday to regrettably
propose at the Ordinary General Meeting of Shareholders that the year-end
dividend payment for fiscal 1995 be suspended.
Financial Summary Fiscal 1995 Fiscal 1994
Estimates Results
Net sales 1,145 1,065.5
Ordinary income (loss) 36 (・18.8)
Net income(loss) 67 (・95.7)
Dividends per share -0- -0-
(Note: Figures are in billions of yen)
Consolidated results estimates
Group results are forecast to be firm owing to the strong performance of the
semiconductor-related business and subsidiaries in the United States and
Southeast Asia. Consolidated net sales is anticipated to be roughly 1,470
billion yen, up 325 billion yen from non-consolidated sales in the same period.
In comparison, fiscal 1994 consolidated net sales were 1, 335.5 billion yen.
Consolidated net income is expected to be approximately 91 billion yen, an
increase of 24 billion yen from non-consolidated net income in the same period.
In fiscal 1994, Kobe Steel had consolidated net loss of 92.4 billion yen.
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Media contact:
Gary Tsuchida
Publicity Dept., Kobe Steel, Ltd.
Tokyo, Japan
E-mail www-admin@kobelco.co.jp
Tel (03) 3218-6055
Fax (03) 5252-7951
INVESTOR INFORMATION
Kobe Steel, Ltd. Kobe Steel Europe Ltd.
Investor Relations Section Alton House
8-2 Marunouchi 1-chome 174/177 High Holborn
Chiyoda-ku, Tokyo 100 London WC1V 7AA
Tel (03) 3218-6882 United Kingdom
(0171) 836-1225
Kobe Steel USA Inc.
535 Madison Ave.
New York, NY 10022 USA
Tel (212) 751-9400
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