Kobe Steel announced on Thursday the consolidated recurring profit was 128 billion yen for April-December 2005. The profit was 42.6 billion yen for October-December representing 54% of 42.6 billion yen of estimated recurring profit, which the firm said in October 2005, for second half of fiscal 2005 ending March 2006. Nisshin Steel said on the day the consolidated recurring profit increased by 28.9% to 52.7 billion yen for April-December 2005 from the same period of 2004. The profit increased by shifting to the strategic products.Kobe Steel’s results were in line with the original plan due to higher steel selling price under the firm demand for domestic manufactures. The firm expects the results are in line with for the estimated recurring profit of 165 billion yen, which the firm said in October 2005, for the full year to March 2006. The operating profit was 97.8 billion yen for steel units, 13.2 billion yen for whole sale power supply unit and 17.3 billion yen for aluminum and copper unit for April-December. The raw steel output was 5.71 million tonnes and the steel sales volume were 4.92 million yen for the parent firm. The steel selling price was 75,300 yen per tonne for October-December, up by 4,000 yen from averaged 71,300 yen for April-September and up by 600 yen from 74,700 yen for July-September. Nisshin Steel revised the estimated profit downward to 61 billion yen for consolidated recurring profit and to 23 billion yen for net profit for the full year to March 2006 from 69 billion yen and 35 billion yen respectively, which the firm said in November 2005. The firm said the lower profits are due to unstable operation of no.1 blast furnace in Kure works and output reduction to reduce overstock. The firm revised the estimate downward to 62 billion yen of recurring profit and to 26 billion yen of net profit for the parent company for the full year from 67 billion yen and 36 billion yen originally. However, the recurring profits both for consolidated and parent firm will renew the record in the year to March 2005.
Japan Steel Scrap Composite Prices (Sangyo Press)12/01/2022
|46600YEN (-200)||47800YEN (-100)|
|337.46US$ (2.86)||346.15US$ (3.69)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)