Kobe Steel has published its third quarter results, which indicate higher unit shipments of cranes but production issues in Japan.

Since Kobelco Cranes was integrated into the construction division we can no longer see the financial numbers for Kobelco Cranes. But a short statement in the accounts said that shipments of crawler cranes during the nine months to the end of December were higher in unit terms, apart from Japan where delays in pre-shipment inspections following the “crane collapse accident” at Kobe Steel’s Yakasago Works in July 2018. It added that demand in North America firm as it was in other overseas markets.

Kobelco Construction revenues improved 11 percent to ¥297.1 billion yen, ($2.65 billion) due to higher sales of excavators, particularly in China, and the reversal of part of an allowance for retained receivables in the excavator business in China. Pre-tax profits increased just over 42 percent to ¥22.6 billion($205 million)

The company also issued an update on its ‘misconduct’ scandal which came to light last year, with a new policies and capital expenditure to prevent a reoccurrence. It seems that the steel and metals division knowingly provided customers with products that did not meet their specifications, in order to maximise profits. It seems that as long as the substandard material did not carry a safety risk the company lied about the specifications. A number of senior executives have also been fired.