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Kobe Steel to withdraw full-year earnings forecast

  • Kobe Steel has decided to withdraw its forecast for the current financial year as it struggles to quantify the impact of its data falsification scandal, the Nikkei business daily reported
  • The firm has also decided not to pay a dividend for the six months through September, Nikkei said
  • Kobe Steel is due to announce first-half earnings results at 15:30 Tokyo time
Hiroya Kawasaki, president and CEO of Kobe Steel, speaks during a news conference in Tokyo, Japan, on Oct. 26, 2017.
Akio Kon | Bloomberg | Getty Images
Hiroya Kawasaki, president and 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 it 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 that a board vote on the matter and announcement would be made this afternoon.

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