Kobe Steel, Ltd.
Earnings Presentation Materials (Q2 FY2026)
Q2 FY2026 operating results show ordinary income roughly in line with the same period last year, and the full-year consolidated outlook was revised upward. Costs increased due to Middle East developments, but valuation gains on inventory improved ordinary income to 135,000 million yen and net income attributable to owners of parent to 105,000 million yen. ROIC 6.0%, ROE 8.0%, D/E 0.55x. Interim dividend 40 yen, full-year 80 yen unchanged.
Key Figures
- Net Sales: 2,750 hundred million yen (vs. previous forecast +60 hundred million yen)
- Ordinary Income: 135,000 million yen (vs. previous forecast +15,000 million yen)
- Net Income Attributable to Owners of Parent: 105,000 million yen (vs. previous forecast +5,000 million yen)
AI要約
Overview of Results
Net sales in Q2 FY2026 increased year-on-year and ordinary income improved compared with the same period last year. By segment, steel, materials, and machinery-related businesses benefited from increased valuation gains on inventory. Although cost increases remain due to developments in the Middle East, improvements in inventory valuation and currency effects are expected to drive full-year ordinary income to 135,000 million yen, exceeding the previous forecast.
Shareholder Returns and Financial Metrics
The policy of an interim dividend of 40 yen and an annual dividend of 80 yen remains unchanged. Financial soundness is solid with an equity ratio of approximately 49% and a D/E ratio of approximately 0.55x. Free cash flow is forecast at 0 million yen. ROIC and ROE remain at stable levels compared with the previous outlook.
Revenue Trend
Operating Profit Trend
Segment Revenue Breakdown
Inventory Valuation Impact and Cost Impact
Full-Year Forecast vs. Actuals
Kobe Steel, Ltd.
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