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Kobe Steel Ltd (5406.T)

5406.T on Tokyo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Kobe Steel says lawsuit regarding metal products price disputes in Canada
Friday, 8 Dec 2017 02:02am EST 

Dec 8 (Reuters) - Kobe Steel Ltd <5406.T>:Says four individuals filed lawsuit against the co, Shinko Metal Products Co Ltd, Shinko Aluminum Wire Co Ltd, Kobelco & Materials Copper Tube Co Ltd, Nippon Koshuha Steel Co Ltd <<<5476.T>>> and Shinko Wire Co Ltd <<<5660.T>>>'s wholly owned unit Shinko Wire Stainless Co Ltd, with Supreme Court of British Columbia and Ontario Superior Court of Justice, regarding metal products price disputes.Other details are not disclosed .  Full Article

Mitsui CFO: considering steps for Multigrain by end-March, sale an option
Thursday, 2 Nov 2017 01:45am EDT 

Nov 2 (Reuters) - Mitsui & Co Ltd <8031.T>:says set aside 42.3 billion yen ($371.31 million) for losses on its Brazilian Multigrain unit in July-Sept quarter.CFO says considering taking some measure on Multigrain by end-March, with sale as an option.CFO says has seen no impact on its businesses related to Kobe Steel products.  Full Article

Kobe Steel expects data misconduct to cut 10 bln yen from FY17/18 recurring profit
Monday, 30 Oct 2017 03:05am EDT 

Oct 30 (Reuters) - Kobe Steel Ltd <5406.T>::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.  Full Article

Kobe Steel says suspects 4 new cases of inappropriate action on data
Thursday, 26 Oct 2017 02:18am EDT 

Oct 26 (Reuters) - Kobe Steel <5406.T> says::suspects 4 new cases of inappropriate action on data.established third-party investigation team on Thursday comprising 3 lawyers.outside panel aims to complete its probe by year-end.229 customers out of 525 confirmed safety of products that used materials with faulty data from Kobe Steel.another 91 customers found "no immediate" safety issues on products that used Kobe Steel materials.no customers found any cases requiring recall of products that used materials from Kobe involving data fabrication.  Full Article

Kobe Steel intends to sell real estate business - Nikkei
Tuesday, 10 Oct 2017 01:18pm EDT 

Oct 10 (Reuters) - Nikkei::Kobe Steel intends to sell real estate business, sale is seen fetching about 50 billion yen - Nikkei.  Full Article

Kobe Steel sets up joint venture with Novelis Korea
Friday, 29 Sep 2017 12:50am EDT 

Sept 29 (Reuters) - Kobe Steel Ltd <5406.T>:Says it sets up a joint venture Ulsan Aluminum, Ltd. with Novelis Korea Limited .Previous news was disclosed on May 10.  Full Article

United States Steel Corporation and Kobe Steel announce new investment
Monday, 25 Sep 2017 08:09pm EDT 

Sept 25 (Reuters) - United States Steel Corp :United States Steel Corporation and Kobe Steel announce new investment in advanced high-strength steel capabilities.New CGL, an investment of approximately $400 million, will have a yearly capacity of 500,000 tons.Construction is expected to begin in Q4 of 2017 and line is expected to commence startup in 2019.  Full Article

Kobe Steel aims for pretax profit of about 20 bln yen in aluminum, copper in fiscal 2020-Nikkei
Wednesday, 14 Jun 2017 01:01pm EDT 

June 14 (Reuters) - Nikkei::Kobe Steel aims for pretax profit of roughly 20 billion yen in aluminum and copper in fiscal 2020, up from 12 billion yen in the year ended in March - Nikkei.Kobe Steel will aim for further growth in the aluminum segment's pretax profit to at least 30 billion yen by fiscal 2025 - Nikkei.Kobe steel is spending roughly 70 billion yen to strengthen its supply network for automotive aluminum in Asia - Nikkei.  Full Article

Kobe Steel to establish joint venture with Novelis Korea in Korea
Tuesday, 9 May 2017 11:15pm EDT 

May 10(Reuters) - Kobe Steel Ltd <5406.T>:Says it will establish joint venture Ulsan Aluminum Ltd. with Novelis Korea Ltd in Korea, in late September.Says the joint venture will be engaged in manufacture of aluminium board rolled products.Says the company and Novelis Korea Ltd will hold a 50 percent stake in the Korea joint venture respectively.  Full Article

Kobe Steel partners with South Korean unit of Novelis to enlarge aluminum ops - Nikkei
Tuesday, 9 May 2017 01:24pm EDT 

May 9 (Reuters) - Nikkei::Kobe Steel Ltd will partner with South Korean unit of Novelis to supply Kobe Steel's processing plants in China and elsewhere - Nikkei.Kobe Steel expected to invest 30 - 40 billion yen as soon as this year in plant to be spun off as separate entity by South Korean unit of Novelis - Nikkei.  Full Article


Kobe Steel loses JIS certifications, faces lawsuits in Canada

TOKYO Kobe Steel Ltd said on Friday it has been hit with lawsuits over its data tampering scandal and has had two more badges of industrial quality removed, the latest setbacks for the Japanese steelmaker as it seeks to restore its reputation.