Japan's Kobe Steel sees operating income plunge in year to March 31

Japanese steelmaker Kobe Steel saw its consolidated operating income drop by 85.76% year-on-year in its business year ending March 31 2017, the company said on Friday April 28.

Kobe’s consolidated operating income for April 2016-March 2017 dropped to ¥9.75 billion ($87.61 million), from ¥68.45 billion ($615.12 million) in the previous financial year. Apart from lower sales prices, the result was also affected by a one-time expense for the refurbishment of a blast furnace in the the company's iron & steel business and the additional allowances related to the construction...

Published

Maria Tanatar

April 28, 2017

17:58 GMT

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