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BRIEF-Kobe Steel expects data misconduct to cut 10 bln yen from FY17/18 recurring profit
October 30, 2017 / 7:32 AM / 20 days ago

BRIEF-Kobe Steel expects data misconduct to cut 10 bln yen from FY17/18 recurring profit

Oct 30 (Reuters) - Kobe Steel Ltd:

* Kobe Steel exec: cuts fy2017/18 recurring profit forecast of aluminium and copper segment to 10 billion yen from 14 billion yen due to impact from data fabrication

* Kobe Steel exec: expecting data misconduct to cut 10 billion yen from its fy17/18 recurring profit

* Kobe Steel exec: financial impact from data fabrication includes reduction of output and falling orders in aluminium, copper and other segments

* Kobe Steel exec: started talking with banks on financing

* Kobe Steel exec: continuing to generate cash on our own to fund capex and other costs including expenses related to data fabrication Further company coverage: (Reporting By Yuka Obayashi)

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