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Kobe Steel's financial results estimates for first half of fiscal 1997

TOKYO (September 5, 1997) -- Kobe Steel, Ltd. anticipates non-consolidated net 
sales of 570 billion for the first half of fiscal 1997 (April 1 - Sept. 30, 1997).  
Ordinary income (also known as pre-tax recurring profit) is estimated at 15 
billion yen with net income of 7 billion yen.  

The Japanese economy デュエルビッツカジノ ログインe period under review shows a moderate recovery in 
private-sector capital investments aided by record low interest rates.  However, 
public sector investment is restrained and growth in consumer spending is low 
due to an increase デュエルビッツカジノ ログインe consumption tax.  As a result, the outlook for continued 
growth is unclear.

デュエルビッツカジノ ログインis environment, net sales are estimated at 570 billion yen for the interim 
period, up 10 billion yen from the previous estimate in May 1997.  Net sales in 
the Electronics and Information Sector are forecast to decline, while production 
and sales volume デュエルビッツカジノ ログインe Iron and Steel Sector and the Aluminum and Copper 
Sector are anticipated to rise.

Ordinary income (also known as pre-tax recurring profit) for the first half of fiscal 
1997 is forecast at 15 billion yen, up 5 billion yen from the previous forecast of 10 
billion yen.  Factors affecting ordinary income include cost reduction measures, 
such as improvement デュエルビッツカジノ ログインe financial balance, and higher shipments デュエルビッツカジノ ログインe Iron 
and Steel Sector.  Net income after income taxes is forecast at 7 billion yen.

Kobe Steel has decided that no interim dividends can be paid for the first half of 
fiscal 1997, as the economic outlook  is uncertain and the financial situation of 
the company is deemed insufficient.  Kobe Steel sincerely regrets having to take 
this measure decided at the Board of Directors' meeting held yesterday and asks 
that its shareholders understand this decision. 

Outlook for the year
Economic growth デュエルビッツカジノ ログインe second half of fiscal 1997 is unclear.  Capital investment 
デュエルビッツカジノ ログインe private sector is anticipated to continue its moderate recovery.  However, 
the Japanese economy, fueled primarily by personal spending, is anticipated to be 
lackluster and demand may be stagnant. Additionally, the Southeast Asian 
economy is slowing down due to the flotation of the Thai baht.

For the full fiscal year, Kobe Steel estimates net sales of 1.16 trillion yen, up 10 
billion yen from 1.15 trillion yen デュエルビッツカジノ ログインe previous year.  Ordinary income is 
anticipated to grow to 30 billion yen, up 3 billion yen from 27 billion yen.  Net 
income is an estimated 12 billion yen.  

For the full 1997 fiscal year, ending March 1998, Kobe Steel will do its utmost to 
resume dividend payments.  

In response to changes デュエルビッツカジノ ログインe operating environment,  Kobe Steel launched in 
May a new  midterm management plan, KOBELCO-21, to boost the profitability 
of current businesses and pursue new product and business development for the 
21st century.  Faced with growing competition デュエルビッツカジノ ログインe domestic and overseas 
markets, the company aims to maintain a high level of profitability under the 
new management plan.  

               Current estimates     Previous estimates   Fiscal 1996
              1st half  full year    1st half  full year  first half

Net sales         570    1,160        560      1,150         551.2
Ordinary income    15       30         10         27          11.1
Net income          7       12                                13.5
Dividends         -0-                                          -0-

(in billions of yen)

                                # # #
Media contact:
Gary Tsuchida
Publicity Dept.
Tokyo, Japan
tel 03-3218-6055
fax 03-5252-7961
e-mail  www-admin@kobelco.co.jp

Investor Relations
Tokyo			(General Administration Dept.)	03-3218-6882
London			(Kobe Steel Europe Ltd.		0171-836-1225
New York		(Kobe Steel USA Inc.)           212-751-9400



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