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.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","meta":{"Ticker":"","DATE":"","longName":"","company_name_ja":"","fullTimeEmployees":0,"address":"","phone":"","website":"","industry":"","sector":"","regularMarketPrice":0,"financialCurrency":"","marketCap":0,"fiftyTwoWeekLow":0,"fiftyTwoWeekHigh":0,"epsTrailingTwelveMonths":0,"epsForward":0,"bookValue":0,"totalRevenue":0,"OperatingIncome":0,"operatingMargins":0,"NetIncome":0,"profitMargins":0,"ebitda":0,"trailingPE":0,"forwardPE":0,"priceToBook":0,"returnOnEquity":0,"recommendationMean":0,"recommendationKey":"","targetMeanPrice":0,"numberOfAnalystOpinions":0,"analyst_earnings_data":"","dividendRate":0,"dividendYield":0,"payoutRatio":0,"totalEsg":0,"environmentScore":0,"socialScore":0,"governanceScore":0,"title":"","providerPublishTime":"","link":"","longBusinessSummary":"","longBusinessSummary_ja":"","quarterly_revenue":0,"quarterly_net_income":0,"quarterly_operating_profit":0,"enterprise_value":0,"price_fetched_at":"","company_officer_1_name":"","company_officer_1_title":"","company_officer_2_name":"","company_officer_2_title":"","company_officer_3_name":"","company_officer_3_title":"","company_officer_4_name":"","company_officer_4_title":"","company_officer_5_name":"","company_officer_5_title":"","company_officers_update_time":"","get_dividend_history_year1":0,"get_dividend_history_year2":0,"get_dividend_history_year3":0,"get_dividend_history_year4":0,"get_dividend_history_year5":0,"get_dividend_history_year6":0,"get_dividend_history_year7":0,"get_dividend_history_year8":0,"get_dividend_history_year9":0,"get_dividend_history_year10":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"5406","jir_company_name":"Kobe Steel, Ltd.","jir_importance":"\u2605\u2605\u2605\u2605\u2606","jir_publication_date":"2026-11-10","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/11\/5406-20261110-02.pdf","jir_short_summary":"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.","jir_summary":"### Overview of Results\nNet 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.\n\n### Shareholder Returns and Financial Metrics\nThe 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.","jir_financial_highlights":"Net Sales: 2,750 hundred million yen (vs. previous forecast +60 hundred million yen)\nOrdinary Income: 135,000 million yen (vs. previous forecast +15,000 million yen)\nNet Income Attributable to Owners of Parent: 105,000 million yen (vs. previous forecast +5,000 million yen)\nROIC: approx. 6.0% ((previous 5.5%))\nROE: approx. 8.0% ((previous approx. 7.5%))","jir_category":"","jir_hashtags":"#KobeSteel, #Earnings, #ShareholderReturns, #SegmentInformation, #MiddleEastImpact","jir_key_figures":"Net Sales: 2,750 hundred million yen (vs. previous forecast +60 hundred million yen)\nOrdinary Income: 135,000 million yen (vs. previous forecast +15,000 million yen)\nNet Income Attributable to Owners of Parent: 105,000 million yen (vs. previous forecast +5,000 million yen)","jir_meta_title":"Kobe Steel, Ltd. Q2 FY2026 Earnings | Net Sales 2,750 hundred million yen (vs. prior +60 hundred million yen)","jir_meta_description":"Summary of Kobe Steel, Ltd.'s Q2 FY2026 earnings. Key points on net sales, ordinary income, net income, ROIC\/ROE, financial metrics, shareholder return policy, and segment developments.","jir_og_title":"Kobe Steel, Ltd. Announces Q2 Results | Net Sales 2.75 trillion yen, Ordinary Income 135,000 million yen","jir_og_description":"Overview of Kobe Steel, Ltd.'s Q2 FY2026 results, segment performance, outlook, and shareholder return policy.","jir_og_image_url":"\/assets\/og\/company-financial_summary.jpg","jir_chart_data_collection":"[{\"jir_chart_id\": \"revenue_trend\", \"jir_chart_type\": \"line\", \"jir_chart_title\": \"Revenue Trend\", \"jir_chart_json_data\": \"{\\\"type\\\":\\\"line\\\",\\\"data\\\":{\\\"labels\\\":[\\\"2025 H1\\\",\\\"2025 H2\\\",\\\"2026 H1\\\",\\\"2026 H2\\\"],\\\"datasets\\\":[{\\\"label\\\":\\\"Net Sales\\\",\\\"data\\\":[11814,12551,12598,14901],\\\"borderColor\\\":\\\"#3e95cd\\\",\\\"fill\\\":false}]}}\"}, {\"jir_chart_id\": \"operating_profit_trend\", \"jir_chart_type\": \"line\", \"jir_chart_title\": \"Operating Profit Trend\", \"jir_chart_json_data\": \"{\\\"type\\\":\\\"line\\\",\\\"data\\\":{\\\"labels\\\":[\\\"2025 H1\\\",\\\"2025 H2\\\",\\\"2026 H1\\\",\\\"2026 H2\\\"],\\\"datasets\\\":[{\\\"label\\\":\\\"Operating Profit\\\",\\\"data\\\":[625,673,609,1040],\\\"borderColor\\\":\\\"#8e5ea2\\\",\\\"fill\\\":false}]}}\"}, {\"jir_chart_id\": \"segment_revenue_breakdown\", \"jir_chart_type\": \"bar\", \"jir_chart_title\": \"Segment Revenue Breakdown\", \"jir_chart_json_data\": \"{\\\"type\\\":\\\"bar\\\",\\\"data\\\":{\\\"labels\\\":[\\\"Steel\\\",\\\"Aluminum\\\",\\\"Cast & Forgings\\\",\\\"Welding\\\",\\\"Machinery\\\",\\\"Engineering\\\",\\\"Construction Machinery\\\",\\\"Power\\\",\\\"Other\\\"],\\\"datasets\\\":[{\\\"label\\\":\\\"H1 FY2026\\\",\\\"data\\\":[5060,4908,1543,461,1290,739,1880,1134,25],\\\"backgroundColor\\\":\\\"#5b9bd5\\\"},{\\\"label\\\":\\\"H2 FY2026\\\",\\\"data\\\":[5100,5450,1950,520,1420,1150,2375,1210,30],\\\"backgroundColor\\\":\\\"#ed7d31\\\"}]}}\"}, {\"jir_chart_id\": \"margin_analysis\", \"jir_chart_type\": \"bar\", \"jir_chart_title\": \"Inventory Valuation Impact and Cost Impact\", \"jir_chart_json_data\": \"{\\\"type\\\":\\\"bar\\\",\\\"data\\\":{\\\"labels\\\":[\\\"Steel\\\",\\\"Aluminum Plate\\\",\\\"Cast & Forgings\\\",\\\"Welding\\\",\\\"Machinery\\\",\\\"Engineering\\\",\\\"Construction Machinery\\\",\\\"Power\\\"],\\\"datasets\\\":[{\\\"label\\\":\\\"Inventory Valuation Impact\\\",\\\"data\\\":[297,717,70,0,0,0,0,0],\\\"backgroundColor\\\":\\\"#5b9bd5\\\"},{\\\"label\\\":\\\"Cost Changes\\\",\\\"data\\\":[-85,-5,130,0,0,45,0,0],\\\"backgroundColor\\\":\\\"#ed7d31\\\"}]}}\"}, {\"jir_chart_id\": \"guidance_comparison\", \"jir_chart_type\": \"line\", \"jir_chart_title\": \"Full-Year Forecast vs. Actuals\", \"jir_chart_json_data\": \"{\\\"type\\\":\\\"line\\\",\\\"data\\\":{\\\"labels\\\":[\\\"H1\\\",\\\"H2\\\",\\\"Full Year\\\"],\\\"datasets\\\":[{\\\"label\\\":\\\"Full-Year Forecast\\\",\\\"data\\\":[12598,14901,27300],\\\"borderColor\\\":\\\"#3e95cd\\\",\\\"fill\\\":false},{\\\"label\\\":\\\"Prior Year Actuals\\\",\\\"data\\\":[11259,12551,24365],\\\"borderColor\\\":\\\"#8e5ea2\\\",\\\"fill\\\":false}]}}\"}]","ir_related_company":7654,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"financial_summary","footnotes":""},"sector":[],"importance":[],"class_list":["post-146097","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n