Kobe Steel to withdraw full-year earnings forecast

Hiroya Kawasaki, president as well as CEO of Kobe Steel, speaks during a news conference in Tokyo, Japan, on Oct. 26, 2017.

Akio Kon | Bloomberg | Getty Images

Hiroya Kawasaki, president as well as CEO of Kobe Steel, speaks during a news conference in Tokyo, Japan, on Oct. 26, 2017.

Kobe Steel has decided to withdraw its forecast for current financial year, the Nikkei business daily reported on Monday, as the item struggles to quantify the impact of its data falsification scandal.

Japan’s No.3 steelmaker has also decided not to pay a dividend for the six months through September, the Nikkei said without citing sources, adding in which a board vote on the matter as well as announcement might be made This kind of afternoon.

Kobe Steel can be due to announce first-half earnings results at 15:30 Tokyo time (0630 GMT).

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