Japanese steelmaker Kobe Steel Ltd has issued its financial and operational results for the fiscal year 2023-24 ended March 31.
For the given period, Kobe Steel has reported a net profit of JPY 109.5 billion ($702.41 million), increasing from the net profit of JPY 72.5 billion recorded in the previous financial year, while its net sales revenues for the full financial year amounted to JPY 2.54 trillion ($16.3 billion), rising by 2.9 percent year on year.
In the same year, Kobe Steel produced 5.97 million mt of crude steel, down by 0.2 percent year on year, while its total sales volume fell by 0.3 percent to 4.69 million mt, compared to 4.98 million mt recorded in the previous financial year, partly due to the refurbishment of its steel plate finishing mill.
According to Kobe Steel, in the financial year 2023-24 its steel exports declined by eight percent to 1.04 million mt, while its domestic sales fell by 4.9 percent to 3.66 million mt, both on year-on-year basis.
The company said that it expects its crude steel output and steel sales volume to amount to 6 million mt and 4.8 million mt respectively in FY 2024-25. In addition, Kobe Steel expects to report a net profit of JPY 120 billion ($770.5 million) and net sales revenues of JPY 2.66 trillion ($17.1 billion) for the current fiscal year.