Crisis-hit Kobe Steel on Monday yanked its net profit forecast for the current fiscal year, saying it could not yet determine how much a snowballing fake data scandal would damage its business. The company also cancelled a planned dividend as it withdrew its projection for a 35 billion yen…
Crisis-hit Kobe Steel on Monday yanked its net profit forecast for the current fiscal year, saying it could not yet determine how much a snowballing fake data scandal would damage its business.
The company also cancelled a planned dividend as it withdrew its projection for a 35 billion yen net profit in the year to March 2018.
It had announced the forecast before the quality data crisis erupted several weeks ago.
« It’s difficult at this moment to assess how much the improper conduct concerning products made by our company and group companies will impact earnings, » Kobe Steel said in a statement.
