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Kobe Steel

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For the construction equipment subsidiary, see Kobelco Construction Machinery America.
Kobe Steel, Ltd.
Kobelco
Native name
株式会社神戸製鋼所
Kabushiki gaisha Kōbe Seikō-sho
Company typePublic (Kabushiki gaisha)
TYO: 5406
NAG: 5406
Nikkei 225 component (TYO)
IndustrySteel
FoundedKobe, Japan
(September 1, 1905; 119 years ago (1905-09-01))
FounderSuzuki Shoten
Seiichiro Kobayashi
Headquarters2-4, Wakinohama-Kaigandori 2-chome, Chūō-ku, Kobe, Hyōgo, 651-8585, Japan
Key people
Mitsugu Yamaguchi, (CEO and President)
Products
RevenueIncrease ¥ 106.8 billion (FY 2022)
Increase ¥ 72.5 billion (FY 2022)
Total assets¥ 250.9 billion (as of March 31, 2022)
Number of employees
38,106 (consolidated) (as of March 31, 2022)
WebsiteOfficial website
Footnotes / references
[1][2]

Kobe Steel, Ltd. (株式会社神戸製鋼所, Kabushiki gaisha Kōbe Seikō-sho), is a major Japanese steel manufacturer headquartered in Chūō-ku, Kobe. KOBELCO is the unified brand name of the Kobe Steel Group.

Kobe Steel has the lowest proportion of steel operations of any major steelmaker in Japan and is characterised as a conglomerate comprising the three pillars of the Materials Division, the Machinery Division and the Power Division.[3]

The materials division has a high market share in wire rods and aluminium materials for transport equipment, while the machinery division has a high market share in screw compressors. In addition, the power sector has one of the largest wholesale power supply operations in the country.[4]

Kobe Steel is a member of the Mizuho keiretsu. It was formerly part of the DKB Group, Sanwa Group keiretsu, which later were subsumed into Mizuho. The company is listed on the Tokyo & Nagoya Stock Exchange, where its stock is a component of the Nikkei 225.[5]

As of March 31, 2022, Kobe Steel has 201 subsidiaries and 50 affiliated companies across Japan, Asia, Europe, the Middle East and the US. Its main production facilities are Kakogawa Steel Works and Takasago Works.[6]

Kobe Steel is also famous as the owner of the rugby team Kobelco Steelers.[7]

History

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Suzuki Shoten headquarters (formerly Mikado Hotel, before 1918)

In 1905, the general partnership trading company Suzuki Shoten acquired a steel business in Wakinohama, Kobe, called Kobayashi Seikosho, operated by Seiichiro Kobayashi, and changed its name to Kobe Seikosho. Then, in 1911, Suzuki Shoten spun off the company to establish Kobe Steel Works, Ltd. at Wakinohamacho, Kobe.[8]

After the Russo-Japanese War, as the Imperial Japanese Navy adopted a policy of fostering private factories, Kobe Steel received technical guidance and orders from the Kure Naval Arsenal and other arsenals in Maizuru and Yokosuka, and expanded its scale.[9]

Around 1914, the company started making machinery for naval vessels and began its journey as a machine manufacturer. Its business performance expanded, partly due to the shipbuilding boom during World War I. In 1918, it acquired the rights to manufacture diesel engines from Sulzer of Switzerland, helping to speed up the Japanese naval, marine, locomotive and automobile transport sectors.[10]

Today, the KOBELCO Group operates a broad range of business fields that cover Steel & Aluminum, Advanced Materials, Welding, Machinery, Engineering, Construction Machinery, and Electric Power.[11]

In the Great Hanshin Earthquake of January 1995, the Kobe head office building and company housing collapsed, and the No. 3 Blast Furnace at the Kobe Steel Works was also damaged, resulting in an emergency shutdown, causing approximately JPY 100 billion in damage, the largest for a private company. The Third Blast Furnace, which restarted only two and a half months after the earthquake, had become a 'symbol of recovery', but was suspended in October 2017 in order to strengthen competitiveness.[12] In recent years, the company has been focusing on fields other than steel, such as aluminium, machinery, and electric power, and is clearly aiming to change from being a 'steelmaker' to a 'manufacturer that also handles steel'.[11]

Former prime minister Shinzō Abe worked at Kobe Steel before entering politics.[13]

Main locations

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Source:[14]

Domestic Locations

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  • Kobe Head Office
    Kobe Steel Kobe headquarters
  • Tokyo Head Office
  • Takasago Works
  • Kobe Corporate Research Laboratories
  • Kakogawa Works
    Kakogawa Works
  • Research & Development Laboratory
  • Kobe Wire Rod & Bar Plant
    Kobe Wire Rod & Bar Plant
  • Fujisawa Office
  • Ibaraki Plant
  • Saijo Plant
  • Fukuchiyama Plant
  • Moka Works
  • Chofu Works
  • Daian Works

Overseas Regional Headquarters and Offices

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  • Kobe Steel USA Inc. (U.S. headquarters): 19575 Victor Parkway, Suite 200 Livonia, MI, 48152, USA
  • Kobelco (China) Holding Co., Ltd. (China headquarters, investment company): Room 3701, Hong Kong New World Tower, No.300 Middle Huai Hai Zhong Road, Huangpu District, Shanghai, 200021, People's Republic of China
  • Kobelco (China) Holding Co., Ltd. (Guangzhou Branch): Room 1203, #285 East Linhe Road, Tianhe District, Guangzhou City, Guangdong Province, People's Republic of China
  • Kobelco South East Asia Ltd. (Regional headquarters for Southeast Asia and South Asia): 17th Floor, Sathorn Thani Tower ll, 92/49 North Sathorn Road, Khwaeng Silom, Khet Bangrak, Bangkok, 10500, Kingdom of Thailand
  • Kobelco Europe GmbH (Regional Headquarters for Europe and the Middle East): Luitpoldstrasse 3, 80335 Munich, Germany

Business Units & Main Products

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Source:[15]

Steel & Aluminum

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  • Steel Sheets
  • Wire Rods and Bars
  • Aluminum Plate
  • Steel Plates

Welding

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  • Robots and Electric Power Sources
  • Welding Materials

Advanced Materials

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  • Steel Castings and Forgings
  • Titanium
  • Copper Sheet and Strip
  • Steel Powder

Machinery

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  • Standard Compressors
  • Rotating Machinery
  • Tire and Rubber Machinery
  • Plastic Processing Machinery
  • Advanced Technology Equipment
  • Rolling Mill・Press Machine
  • Ultra High Pressure Equipment
  • Energy & Chemical Field

Engineering

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  • Iron Unit Field
  • Advanced Urban Transit System

Electric Power

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  • Wholesale Power Supply

Scandal

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In October 2017, Kobe Steel admitted to falsifying data on the strength and durability of its aluminium, copper and steel products.[13][16] The scandal deepened when the company said it found falsified data on its iron ore powder, which caused its shares to fall 18%. By 11 October, shares had fallen by a third.[13] After testing the parts of their bullet trains, the Central Japan Railway Company announced that 310 components were discovered to contain sub-standard parts supplied by Kobe Steel.[17][18]

Following further news in October 2017 that car makers Toyota, Nissan, and General Motors, and train manufacturer Hitachi, were among 200 companies affected by the Kobe Steel's mislabelling, which had potential safety implications for their vehicles, the CEO of Kobe Steel conceded that his company now had "zero credibility".[19] Other affected companies include Ford, Boeing and Mitsubishi Heavy Industries.[13] CEO Kawasaki promised to lead an internal investigation.[13] On 13 October 2017, Kobe Steel admitted that the number of companies misled was over 500.[20]

Despite the costs of dealing with the scandal, Kobe Steel issued a revised profit forecast in February 2018 announcing that it expects to generate a net profit of ¥45 billion ($421 million) for the full 2017 fiscal year, marking its first net profit in three years.[21][22]

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  • Screw of IJN Battleship Mutsu, donated by Kobe Steel (Yamato Museum)
    Screw of IJN Battleship Mutsu, donated by Kobe Steel (Yamato Museum)
  • Main anchor of IJN destroyer Yukikaze with the engraving 'KOBE STEEL WORKS LTD' (JMSDF the First Service School)
    Main anchor of IJN destroyer Yukikaze with the engraving 'KOBE STEEL WORKS LTD' (JMSDF the First Service School)
  • IJA Kobeseiko Te-Gō
    IJA Kobeseiko Te-Gō

See also

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References

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  1. ^ "Corporate Profile". Kobelco.co.jp. Retrieved April 13, 2014.
  2. ^ "Financial statements for the first quarter of 2022" (PDF). Kobelco.co.jp. Retrieved August 28, 2022.
  3. ^ "統合報告書". 株式会社神戸製鋼所. Retrieved 28 August 2022.
  4. ^ "統合報告書". 株式会社神戸製鋼所. Retrieved 28 August 2022.
  5. ^ "Components:Nikkei Stock Average". Nikkei Inc. Retrieved April 13, 2014.
  6. ^ "統合報告書". 株式会社神戸製鋼所. Retrieved 28 August 2022.
  7. ^ "How Dan Carter's Kobelco Steelers are setting the new standard in Japanese rugby". www.rugbypass.com. 2020-01-16. Retrieved 2023-09-04.
  8. ^ "神戸製鋼所設立の歴史①". 鈴木商店記念館. Retrieved 28 August 2022.
  9. ^ "神戸製鋼所設立の歴史③". 鈴木商店記念館. Retrieved 28 August 2022.
  10. ^ "神戸製鋼所設立の歴史⑤". 鈴木商店記念館. Retrieved 28 August 2022.
  11. ^ a b "統合報告書". 株式会社神戸製鋼所. Retrieved 28 August 2022.
  12. ^ "神戸製鋼、神戸の高炉休止 震災復興の象徴、歴史に幕". 朝日新聞. 31 October 2017. Retrieved 28 August 2022.
  13. ^ a b c d e "Kobe Steel admits falsifying data on 20,000 tonnes of metal". The Economist. 12 October 2017.
  14. ^ "統合報告書". 株式会社神戸製鋼所. Retrieved 28 August 2022.
  15. ^ "統合報告書". 株式会社神戸製鋼所. Retrieved 28 August 2022.
  16. ^ Soble, Jonathan; Boudette, Neal E. (10 October 2017). "Kobe Steel's Falsified Data Is Another Blow to Japan's Reputation". The New York Times. Retrieved 10 October 2017.
  17. ^ "Bullet Train Parts Failed Quality Tests: Steel Scandal Deepens". Bloomberg News. Retrieved 11 October 2017.
  18. ^ "Kobe Steel scandal deepens over quality of products used in cars and aircraft". The Guardian. Retrieved 11 October 2017.
  19. ^ McCurry, Justin (12 October 2017). "Kobe Steel chief admits scandal has hit trust as car checks spread". The Guardian. Retrieved 12 October 2017.
  20. ^ McLain, Sean; Tsuneoka, Chieko (2017-10-13). "Kobe Steel Admits 500 Companies Misled in Scandal". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-10-13.
  21. ^ Obayashi, Yuka (2018-02-01). "Japan steelmakers' profits surge; Kobe Steel reinstates forecast". Reuters. Retrieved 2018-02-26.
  22. ^ "Kobe Steel expects net profit for fiscal 2017 despite data fabrication scandal". The Japan Times. 2018-02-02. Retrieved 2018-02-26.
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