Japanese steelmaker Kobe Steel Ltd (Kobe) has issued its financial results for the Japanese financial year 2011-12, ended March 31, posting a net loss due to deceleration of overseas demand in the third quarter caused by the flooding in Thailand and the higher Japanese yen.
For the given year, Kobe Steel reported a net loss of JPY 14.2 billion ($177.2 million), compared to a net income of JPY 52.9 billion in the previous financial year. Net sales revenues in FY 2011-12 were JPY 1.8 trillion ($22.4 billion), up 0.3 percent year on year, while sales of its iron and steel segment have not shown any changes year on year, remaining at JPY 854 billion ($10.6 billion).
Kobe Steel produced 7.16 million mt of crude steel in the financial year 2011-12, down from 7.60 million mt in the previous financial year. Kobe's steel product sales volume in the given period decreased to 6.01 million mt from 6.38 million mt in the financial year 2010-11.