Kobe Steel’s net income declines in April-December 2011

Wednesday, 01 February 2012 16:55:57 (GMT+2)

Japanese steelmaker Kobe Steel Ltd (Kobe) has issued its financial results for the first nine months (ended December 31) of the Japanese financial year 2011-12.

The net income of Kobe Steel was JPY 12.5 billion ($164.15 million) for the given period, down 73.3 percent compared to the same period of the previous financial year. Net sales revenues in April-December FY 2011-12 were JPY 1.4 trillion ($18.38 billion), up four percent year on year, while sales of its iron and steel segment in this period increased 3.1 percent year on year to JPY 642 billion ($8.4 billion).
 
Kobe Steel produced 5.40 million mt of crude steel in the first nine months of FY 2011-12, compared with 5.70 million mt in the same period of the previous fiscal year. Kobe's steel product sales volume in the given period was 4.54 million mt, down from 4.76 million mt in the corresponding period of FY 2010-11.

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