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Kobe Steel Ltd (5406.T)

5406.T on Tokyo Stock Exchange

1,147JPY
11:30am IST
Change (% chg)

¥25 (+2.23%)
Prev Close
¥1,122
Open
¥1,120
Day's High
¥1,160
Day's Low
¥1,114
Volume
12,206,700
Avg. Vol
26,643,030
52-wk High
¥1,395
52-wk Low
¥774

Latest Key Developments (Source: Significant Developments)

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

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 

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 

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 

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 

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's Iron and Steel business is expected to generate around 7 billion yen in pretax profit during FY starting in April 2017 - Nikkei
Thursday, 16 Jun 2016 

Nikkei: Kobe Steel's Iron and Steel business is expected to generate around 7 billion yen in pretax profit during the fiscal year starting in April 2017 - Nikkei .Kobe Steel Ltd aims to make the Iron and Steel operations profitable on their own starting next fiscal year - Nikkei.  Full Article

Kobe Steel lowers consolidated mid-year and full-year outlook for FY 2017
Thursday, 28 Apr 2016 

Kobe Steel Ltd:Says the company lowered the consolidated mid-year outlook for revenue to 860,000 mln yen from 928,629 mln yen for the fiscal year ending March 31, 2017.Sees a decrease of operating profit forecast to 25,000 mln yen from 47,065 mln yen.Sees a decrease of ordinary profit forecast to 10,000 mln yen from 33,082 mln yen.Sees a decrease of net profit forecast to 5,000 mln yen from 13,428 mln yen.Sees a decrease of earnings per share to 1.37 yen from 3.70 yen.Says the company lowered the consolidated full-year outlook for revenue to 1,750,000 mln yen from 1,822,805 mln yen for the fiscal year ending March 31, 2017.Sees a decrease of operating profit forecast to 65,000 mln yen from 68,445 mln yen.Sees an increased ordinary profit forecast to 35,000 mln yen from 28,927 mln yen.Sees an increased net profit forecast to 20,000 mln yen from a loss of 21,556 mln yen.Sees an increased earnings per share to 5.50 yen from a loss of 5.93 yen.FY 2017 revenues of 1,793.07 billion yen, net income of 27.39 billion yen – Thomson Reuters I/B/E/S.Says slow down of economy in emerging countries, lower oil price and sluggish in demand as main reason for the forecast.  Full Article

Kobe Steel announces change of chairman
Thursday, 3 Mar 2016 

Kobe Steel Ltd:Says Hiroshi Sato will no longer serve as chairman.Effective April 1.  Full Article

Toyota completes review of Kobe materials, says no problems found

TOKYO, Jan 17 Toyota Motor Corp said on Wednesday that it had completed an investigation of parts that were supplied by Kobe Steel Ltd with falsified data, and found that they had caused no problems to its vehicles' quality or performance.