TOKYO (Reuters) - Embattled Kobe Steel Ltd has decided to withdraw its forecast for the current financial year as it struggles to quantify the impact of its data falsification scandal, the Nikkei business daily reported on Monday.
The steelmaker’s forecast for its first full-year profit in three years has been thrown into doubt by revelations of widespread tampering of data on products used across the world in cars, trains, airplanes and other equipment.
Kobe Steel forecast in July that it would earn net profit of Y35bn yen ($308m) in the year through March 2018 after two years of losses.
The company is also trimming its recurring profit forecast for the full year to Y50bn, from Y55bn, the Nikkei reported.
In a later article the Nikkei said Japan’s biggest banks are considering a loan of Y50bn for Kobe Steel, to shore up its finances.