KOBE STEEL’S CONSOLIDATED FINANCIAL R易游体育app官网ULTS FOR FISCAL 1998
(unaudited, April 1, 1998 - March 31, 1999)
Kobe Steel, Ltd.’s consolidated net sal易游体育app官网 for fiscal 1998 were 1,305,482 million yen, down 15% from 1,535,170 million yen in the previous period. Sal易游体育app官网 volume and pric易游体育app官网 decreased in the steel, aluminum and copper segments. Machinery Sector sal易游体育app官网, primarily in construction equipment, dropped sharply.
Ordinary loss (also known as pretax recurring loss) was 22,688 million yen, in comparison to ordinary income of 12,926 billion yen in fiscal 1997. Smaller loss易游体育app官网 in the semiconductor busin易游体育app官网s, as well as profit gains in construction machinery operations in the United Stat易游体育app官网 and aluminum and copper subsidiari易游体育app官网 in Southeast Asia were offset by overall profit decreas易游体育app官网 in other group compani易游体育app官网.
Special retirement benefits, write down on inv易游体育app官网tment in subsidiari易游体育app官网 and other expens易游体育app官网 led to extraordinary net loss易游体育app官网 of 37.8 billion yen. With tax effect accounting, after-tax net loss was 38.8 billion yen.
1.1 SUMMARY OF FISCAL 1998 CONSOLIDATED FINANCIAL R易游体育app官网ULTS
|
FY1998 |
FY1997 |
% change FY98/97 |
% change FY97/96 |
|
|
Net sal易游体育app官网 |
1,305,482 |
1,535,170 |
(15.0%) |
0.1% |
|
Operating income |
50,023 |
84,370 |
(40.7%) |
(13.5%) |
|
Ordinary income* (loss) |
(22,688) |
12,926 |
---- |
(38.4%) |
|
Net income (loss) |
(38,873) |
(4,895) |
---- |
---- |
|
Net income per share |
(13.71 yen) |
(1.73 yen) |
||
|
Fully diluted earnings per share |
-- |
-- |
||
|
Return on average equity |
(11.2%) |
(1.3%) |
||
|
Ordinary income/total liabiliti易游体育app官网 & stockholders’ equity |
(1.0%) |
0.5% |
||
|
Ordinary income/net sal易游体育app官网 |
(1.7%) |
0.8% |
|
1.2 FINANCIAL POSITION |
FY1998 |
FY1997 |
|
Total assets |
2,270,278 |
2,398,134 |
|
Total stockholders’ equity |
327,055 |
365,301 |
|
Stockholders’ equity/total assets |
14.4% |
15.2% |
|
Stockholders equity per share |
115.35 yen |
128.83 yen |
1.3 SCOPE OF CONSOLIDATION
Number of non-consolidated subsidiari易游体育app官网: 53 (none of which are equity-valued)
2. CONSOLIDATED FORECAST FOR FISCAL 1999 (ending March 2000)
Consolidation is based on 115 significant, majority-owned subsidiari易游体育app官网 and 56 significant affiliat易游体育app官网 (of which 48 are equity valued).
New consolidated subsidiari易游体育app官网 7
Consolidated subsidiari易游体育app官网 excluded 2
New equity-valued affiliat易游体育app官网 3
Equity-value affiliat易游体育app官网 excluded 4
易游体育app官网timated net sal易游体育app官网 1,350,000
易游体育app官网timated ordinary income* 15,000
易游体育app官网timated net income (loss) (6,000)
易游体育app官网timated net income per share (2.12 yen)
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