Kyoei Steel Ltd Lowers Consolidated Full-year Outlook for FY 2013

Kyoei Steel Ltd announced that it has lowered its consolidated full-year outlook for revenue from JPY 148,000 million to JPY 136,000 million, operating profit from JPY 6,900 million to JPY 4,700 million, ordinary profit from JPY 7,000 million to JPY 5,000 million, net profit from JPY 4,000 million to JPY 2,400 million and earning per share from JPY 91.94 to JPY 55.20, for the fiscal year ending March 2013. The Company lowered the outlook due to the impact of the economic downturn, among others. According to I/B/E/S Estimates, analysts were expecting the Company to report full-year revenue of JPY 146.18 billion and net profit of JPY 4.24 billion.