{"id":867,"date":"2016-04-19T16:44:43","date_gmt":"2016-04-19T16:44:43","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=867"},"modified":"2016-04-19T16:44:43","modified_gmt":"2016-04-19T16:44:43","slug":"kobe-steel-aims-to-return-to-profit-at-excavator-unit","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/","title":{"rendered":"Kobe Steel Aims to Return to Profit at Excavator Unit"},"content":{"rendered":"<p>Kobe Steel Ltd., the Japanese steel mill that also makes machinery, said its targeting a return to profit next year at its construction equipment unit after paring costs by cutting output.<\/p>\n<p>Removing excess stock in China will help\u00a0boost earnings at the <a href=\"https:\/\/www.kobelcocm-global.com\/\">Kobelco Construction Machinery Co.<\/a> unit even as demand stays stagnant, Kenji Horiuchi, a spokesman said Tuesday by phone. Kobe forecast last month the unit would have a loss of 16 billion yen ($140 million) this fiscal year, compared with a 21 billion yen profit a year ago.<\/p>\n<p>Kobelco\u2019s Chinese plants were shut for about 10 days a month in the second half of last year to shed excess inventory. There haven\ufffd\ufffdt been any planned shutdowns since January and the unit has increased output, he said.<\/p>\n<div data-view-uid=\"1|0_3_1_8\">\u00a0Kobe Steel <a title=\"Kobe Steel Predicts Loss as It Joins Peers in Cutting Forecasts\" href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-02-02\/kobe-steel-predicts-loss-as-it-joins-peers-in-cutting-forecasts\" data-tracker-action=\"click\" data-tracker-category=\"recirc\" data-tracker-label=\"inline_link.01\">warned<\/a> last month it would report an annual loss in the current year to March, as its construction machinery unit and steel manufacturing business were both hit hard by China\u2019s economic slowdown.<\/div>\n<p>Kobelco produced 17 percent of the company\u2019s sales in the last fiscal year, while iron and steel accounted for 40 percent. The Kobelco unit reported net income of 19.3 billion yen, rising 23 percent from the previous 12 months, according to company statements. Kobe Steel forecast a net loss of 20 billion yen for the current year, the first annual loss in three years.<\/p>\n<p>The Nikkei newspaper on Tuesday reported Kobe Steel\u2019s construction equipment business will likely to return to profit next fiscal year, without saying where it obtained the information.<\/p>\n<div class=\"author-byline\"><a class=\"author-link\" href=\"http:\/\/www.bloomberg.com\/authors\/AB7ARWJOgNw\/masumi-suga\" rel=\"author\" data-tracker-category=\"nav\" data-tracker-label=\"author_link\" data-tracker-action=\"click\">Masumi Suga <\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Kobe Steel Ltd., the Japanese steel mill that also makes machinery, said its targeting a return to profit next year at its construction equipment unit after paring costs by cutting output. Removing excess stock in China will help\u00a0boost earnings at the Kobelco Construction Machinery Co. unit even as demand stays stagnant, Kenji Horiuchi, a spokesman [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":868,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,8],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kobe Steel Aims to Return to Profit at Excavator Unit - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kobe Steel Aims to Return to Profit at Excavator Unit - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Kobe Steel Ltd., the Japanese steel mill that also makes machinery, said its targeting a return to profit next year at its construction equipment unit after paring costs by cutting output. Removing excess stock in China will help\u00a0boost earnings at the Kobelco Construction Machinery Co. unit even as demand stays stagnant, Kenji Horiuchi, a spokesman [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/\" \/>\n<meta property=\"og:site_name\" content=\"MachineMarket Blog\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-19T16:44:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/RO55-Kobelco2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"691\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/machine.market\/blog\/#organization\",\"name\":\"CraneMarket | Cranes for Sale and Rent\",\"url\":\"https:\/\/machine.market\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/machine.market\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2019\/03\/crane-market-logo.png\",\"width\":282,\"height\":81,\"caption\":\"CraneMarket | Cranes for Sale and Rent\"},\"image\":{\"@id\":\"https:\/\/machine.market\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/machine.market\/blog\/#website\",\"url\":\"https:\/\/machine.market\/blog\/\",\"name\":\"MachineMarket Blog\",\"description\":\"Machine News\",\"publisher\":{\"@id\":\"https:\/\/machine.market\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/machine.market\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/RO55-Kobelco2.jpg\",\"width\":1000,\"height\":691},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/#webpage\",\"url\":\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/\",\"name\":\"Kobe Steel Aims to Return to Profit at Excavator Unit - MachineMarket Blog\",\"isPartOf\":{\"@id\":\"https:\/\/machine.market\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/#primaryimage\"},\"datePublished\":\"2016-04-19T16:44:43+00:00\",\"dateModified\":\"2016-04-19T16:44:43+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/\"]}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/#webpage\"},\"author\":{\"@id\":\"https:\/\/machine.market\/blog\/#\/schema\/person\/d55314291bc2800387533231d1e82150\"},\"headline\":\"Kobe Steel Aims to Return to Profit at Excavator Unit\",\"datePublished\":\"2016-04-19T16:44:43+00:00\",\"dateModified\":\"2016-04-19T16:44:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/#webpage\"},\"publisher\":{\"@id\":\"https:\/\/machine.market\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/kobe-steel-aims-to-return-to-profit-at-excavator-unit\/#primaryimage\"},\"articleSection\":\"Constuction &amp; Business News,Manufacturer News\",\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/machine.market\/blog\/#\/schema\/person\/d55314291bc2800387533231d1e82150\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/machine.market\/blog\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6761c958e8b054582d0855a0e4bc5407?s=96&d=mm&r=g\",\"caption\":\"admin\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/posts\/867"}],"collection":[{"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/comments?post=867"}],"version-history":[{"count":0,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/posts\/867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/media\/868"}],"wp:attachment":[{"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/media?parent=867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/categories?post=867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/tags?post=867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}