Kyoei Steel Ltd. announced consolidated earnings results for the first quarter ended June 30, 2017. For the quarter, the company reported net sales of JPY 43,251 million compared to JPY 36,764 million a year ago. Operating profit was JPY 1,715 million compared to JPY 2,584 million a year ago. Profit attributable to owners of parent was JPY 1,054 million compared to JPY 1,592 million a year ago. Net income per share was JPY 24.31 compared to JPY 36.77 a year ago. Profit before income taxes was JPY 1,464 million compared to JPY 2,502 million a year ago.

The company provided earnings guidance for the first half ending September 30, 2017 and full year ending March 31, 2018. For the six months, the company expected net sales of JPY 86,000 million, operating profit of JPY 1,300 million and profit attributable to owners of parent of JPY 1,100 million or JPY 25.37 per share.

For the full year, the company expected net sales of JPY 180,000 million, operating profit of JPY 5,400 million and profit attributable to owners of parent of JPY 3,900 million or JPY 89.97 per share.