KOBE (dpa-AFX) - Japan's Kobe Steel Ltd. (KBSTY.PK) reported Tuesday that its fiscal 2020 net profit attributable to the company was 23.2 billion yen, compared to last year's loss of 68 billion yen.
Earnings per basic share were 19.90 yen, down from 124.30 yen last year.
Operating income was 30.3 billion yen, significantly higher than 9.8 billion yen in the prior year.
Meanwhile, net sales were 1.71 trillion yen, down from 1.87 trillion yen last year.
Crude steel production was 5.81 million tons, down 0.69 million tons year on year. Sales volume was 4.73 million tons, down 0.57 million tons.
Further, Kobe Steel passed a resolution to pay a year-end dividend of 10 yen per share, with a change from 5 yen per share, reflecting the increase in net income attributable.
Looking ahead for fiscal 2021, ending March 31, 2022, the company expects attributable net profit of 25 billion yen, operating income of 55 billion yen and net sales of 1.87 trillion yen, all higher than fiscal 2020.
Copyright RTT News/dpa-AFX