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Kobe Steel, First Half Ordinary Profit Decreases by 19%

Mon Nov 10, 2025 1:00 pm JST Earnings

5406 Kobe Steel, Ltd. 【J-GAAP】

Earnings Report

Kobe Steel, Ltd. <5406> [TSE Prime] announced its financial results in the afternoon session on November 10th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 18.7% from the same period last year to 57.6 billion yen. However, Progress toward the full-year plan of 110 billion yen was 52.4%, also surpassing the five-year average of 47.2%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop 39.3% from the same period last year to 52.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 28.9 billion yen, a 19.5% decrease compared to the same period last year. The operating profit margin worsened from 7.1% in the same period last year to 5.1%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 1,253,833 92,142 91,601 80,348 203.4 56.9 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 1,248,556 77,705 70,960 56,583 143.4 45.1 Nov 7, 2024 J-GAAP
Apr - Sep, 2025 1,181,447 62,565 57,663 62,830 159.5 52.4 Nov 10, 2025 J-GAAP
YoY -5.4% -19.5% -18.7% +11.0% +11.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance 1,210,000 60,000 50,000 55,000 139.9 40 Aug 7, 2025 J-GAAP
Apr - Sep, 2025 Results 1,181,447 62,565 57,663 62,830 159.5 40 Nov 10, 2025 J-GAAP
Revision Rate -2.4% +4.3% +15.3% +14.2% +14.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 2,480,000 130,000 110,000 100,000 254.0 80 Aug 7, 2025 J-GAAP
Mar, 2026 New 2,465,000 130,000 110,000 100,000 254.0 80 Nov 10, 2025 J-GAAP
Revision Rate -0.6% 0.0% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 1,306,475 81,016 86,232 63,597 161.2 55 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,283,553 67,435 52,337 37,170 94.4 40 Nov 10, 2025 J-GAAP
YoY -1.8% -16.8% -39.3% -41.6% -41.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 2,543,142 186,628 160,923 109,552 277.4 90 May 9, 2024 J-GAAP
Mar, 2025 2,555,031 158,721 157,192 120,180 304.6 100 May 12, 2025 J-GAAP
Mar, 2026 Guidance 2,465,000 130,000 110,000 100,000 254.0 80 Nov 10, 2025 J-GAAP
YoY -3.5% -18.1% -30.0% -16.8% -16.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 657,823 46,633 35,915 32,539 82.4 7.1 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 635,498 46,826 61,913 46,229 117.2 7.4 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 670,977 34,190 24,319 17,368 44.0 5.1 May 12, 2025 J-GAAP
Apr - Jun, 2025 569,056 31,305 28,759 38,637 98.0 5.5 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 612,391 31,260 28,904 24,193 61.4 5.1 Nov 10, 2025 J-GAAP
YoY -6.9% -33.0% -19.5% -25.6% -25.5%

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