Kobe Steel Ltd. Revised Earnings Guidance for the First Half and Full Year of Fiscal 2013
September 30, 2013
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Kobe Steel Ltd. revised earnings guidance for the first half and full year of fiscal 2013. For the first half the company expected net sales of ¥900,000, operating income of ¥45,000, ordinary income of ¥35,000 net income of ¥35,000 or ¥11.66 per share compared with the previous guidance of net sales of ¥890,000, Operating income of ¥40,000, ordinary income of ¥25,000 net income of ¥25,000 or ¥8.32 per share.
For fiscal 2013, the company expected net sales of ¥1,850,000, operating income of ¥95,000, ordinary income of ¥70,000 net income of ¥60,000 or ¥19.99 per share compared with the previous guidance of net sales of ¥1,860,000, Operating income of ¥90,000, ordinary income of ¥60,000 net income of ¥55,000 or ¥18.32 per share.
Kobe Steel, Ltd. specializes in manufacturing and marketing of steel and metallurgical products. The group is also developing production of construction and industrial machines activity. Net sales break down by activity as follows:
- sale of steel and aluminum products (42.3%): special steel wires, stainless tubes, rolled steel products, steel strips, aluminum plates and sheets, aluminum alloy products, building materials, etc.;
- manufacturing of construction machines (17.8%): cranes, hydraulic excavators, mini excavators and wheeled loaders;
- sales of advanced materials (15.6%): copper foil for semiconductors, copper tubes for air conditioners, aluminum extrusions, aluminum alloy products, iron powder, etc.;
- manufacturing of industrial machines (7.8%): compressors, high pressure machines, heat pumps, nuclear plants equipments, etc.;
- engineering services (6.4%);
- electric power production (5.3%);
- sale of welding materials and equipments (3.6%);
- other (1.2%): primarily sale of electronic equipments and real estate development.