Kyoei Steel Ltd (5440.T)
Latest Key Developments (Source: Significant Developments)
Kyoei Steel to acquire 14.8 mln shares of Vietnam Italy Steel Joint Stock Company for about 1.9 bln yen
Nov 6 (Reuters) - Kyoei Steel Ltd <5440.T>:Says co plans to acquire 14.8 million shares (about 20 percent stake) of Vietnam Italy Steel Joint Stock Company, which is a raw material supplier of co's Vietnam base Kyoei Steel Vietnam Company Limited, from Thai Hung Trading Joint Stock Company on Nov. 7.Says acquisition price is about 1.9 billion yen . Full Article
Kyoei Steel Ltd:Says the company increased the consolidated full-year outlook for revenue to 163,000 million yen from 160,000 million yen for FY ending March 2016.Operating profit forecast increased to 13,800 million yen from 12,400 million yen.Ordinary profit forecast increased to 14,000 million yen from 12,500 million yen.Net profit forecast increased to 8,000 million yen from 7,500 million yen.Earnings per share increased to 184.08 yen from 172.58 yen.Comments the costs reduction as the main reason for the forecast.Raised year-end dividend forecast to 35 yen per share from 25 yen per share for FY ending March 2016. Full Article
WASHINGTON, June 16 The U.S. International Trade Commission said on Friday it made a final finding that exports of steel concrete reinforcing bar, or rebar, from Japan and Turkey hurt U.S. producers, ensuring that anti-dumping and anti-subsidy duties on the building material remain in effect.