Japanese steelmaker Kobe Steel Ltd has issued its financial and operational results for the fiscal year 2021-22 ended March 31.
For the given period, Kobe Steel has reported a net profit of JPY 60.08 billion ($462.47 million), increasing from the net profit of JPY 23.23 billion recorded in the previous financial year. The company’s consolidated net sales revenues for the full financial year amounted to JPY 2.08 trillion ($16.02 billion), rising by 22.3 percent year on year, due to an increase in sales volume.
Kobe Steel produced 6.59 million mt of crude steel in the period in question, up 13.4 percent year on year. Kobe’s steel product sales volume in the given period rose by 11.4 percent to 5.27 million mt, compared to 4.73 million mt recorded in the previous financial year.
According to Kobe Steel, in the financial year 2021-22 its steel exports declined by 0.7 percent year on year to 1.28 million mt, while its domestic sales rose by 15.9 percent year on year to 3.99 million mt.
The company said that it expects its crude steel output and steel sales volume to amount to 6.70 million mt and 5.40 million mt respectively in FY 2022-23. In addition, Kobe Steel expects to report a net profit of JPY 60 billion and net sales revenues of JPY 2.37 trillion in the FY 2022-23.