Kobe warns of loss-making year

摘要

Japan's third-largest steel maker Kobe Steel says it expects to record a net loss of ?20 bn ($166 M,?152 M) in the current fiscal year ending 31 March, compared with a ?86.5 bn profit the year before.The company had previously forecast net income of ?20 bn this financial year.Lower sales prices for steel products, against the backdrop of a decline in raw material prices andincreased costs arising from a worsening sales mix and higher maintenance costs to maintain stable steel production, are among the factors the company gives for the reversal of fortune. Sales revenueis projected to be ?1.840 trn, which is 2.5% lower than the previous fiscal year.