KOBE (dpa-AFX) - Japan's Kobe Steel Ltd. (KBSTY.PK) reported Thursday that its net profit attributable to the company for the nine months ended December 31, 2019 plunged 84 percent to 7.22 billion yen from 45.03 billion yen last year. Earnings per basic share were 19.90 yen, down from 124.30 yen last year.
Operating income declined 62.6 percent to 14.30 billion yen from 38.24 billion yen in the prior year.
Net sales were 1.39 trillion yen, down 4.1 percent from 1.45 trillion yen last year.
For fiscal 2019, ending March 31, 2020, the company now expects attributable net loss of 15 billion yen or 41.36 yen per share, operating loss of 5 billion yen and net sales of 1.89 trillion yen, down 4.2 percent from last year.
The company previously expected attributable net loss of 5 billion yen or 13.78 yen per share, operating income of 15 billion yen and net sales of 1.97 trillion yen.
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