Kobe Steel Ltd. said Monday it has withdrawn its net income forecast and won't pay dividends, acknowledging that executives can't predict how the scandal involving falsified product data will affect earnings in coming months.
The steel maker eliminated its ¥10 per share interim dividend and can't make a net income forecast because it might have to reimburse customers, Kobe Steel said as it announced first-half earnings.
The forecast for net income had been ¥35 billion for the fiscal year that ends in March.