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Kobe Steel Ltd Amends Consolidated Full-year Forecast for FY 2013; Cancels Year-end Dividend for FY 2013


Thursday, 31 Jan 2013 11:30pm EST 

Kobe Steel Ltd announced that it has lowered the consolidated full-year forecast for revenue from JPY 1,710,000 million to JPY 1,690,000 million, operating profit from JPY 15,000 million to JPY 10,000 million, affirmed the forecast for ordinary profit (loss) of JPY (25,000 million), but raised the forecast for net profit (loss) from JPY (60,000 million) to JPY (30,000 million) and earning (loss) per share from JPY (19.99) to JPY (9.99) for the fiscal year ending March 31, 2013. The Company lowered the consolidated full-year outlook for revenue and operating profit due to the downturn in economy and the aggravated order environment. The Company raised the consolidated full-year outlook for net profit due to reversal of loss on revaluation of investment in securities. The Company has canceled the year-end dividend for the fiscal year ending March 31, 2013. The last year-end dividend forecast was undetermined. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of JPY 1,717.98 billion and net profit of JPY (51.92 billion_ for the fiscal year ending March 2013. 

Company Quote

8.616
0.116 +1.36%
11:43am EST