TOKYO: The Japanese government wants to get actively involved in the issue of Kobe Steel’s data fabrications, Hiroshige Seko, the minister of economy, trade and industry, said on Friday, as the company’s widespread misconduct has sent a chill along global supply chains.
Kobe Steel, Japan’s third-biggest steelmaker, admitted earlier this month that it had falsified specifications on the strength and durability of its products. The falsifications stretch back for more than 10 years, a senior executive told Reuters.
“This is a problem between companies, but we want to be actively involved in the issues,” Seko told a news conference, adding that he hoped Kobe Steel would take proper and prompt actions to remedy the situation.
Japan’s Transport Minister Keiichi Ishii also urged the company to investigate the falsifications and take proper prevention measures.
“It was extremely regrettable,” Ishii told a news conference on Friday.
“We want the company to take measures to make sure that it complies with laws and reinforces safety management,” he said.
The ministry has also asked Kobe Steel’s customers to ensure the safety of automobiles and planes.
No safety problems have surfaced as Kobe Steel attempts to confirm the extent of the data tampering. But in Europe, aviation safety authorities earlier this week issued a directive advising aircraft manufacturers to avoid using Kobe Steel products if they can until checks are completed.
Four Japanese automakers on Thursday said they found no safety issues with aluminum parts supplied by Kobe Steel, allaying some concerns that falsified quality data on products from the steelmaker had compromised their vehicles.
Nonetheless, the company’s fate hangs in the balance while checks are being carried out. It must report to Japan’s industry ministry by around the end of next week on any safety concerns and provide a more extensive account of the problems a fortnight later.
Japan government wants to get actively involved in Kobe Steel issue — trade minister
Japan government wants to get actively involved in Kobe Steel issue — trade minister
Saudi Maaden reports 156% surge in annual net profit to $2bn on strong commodity prices and record production
RIYADH: Saudi mining and metals company Maaden has reported a 156 percent jump in its net profit attributable to shareholders for 2025, driven by higher commodity prices, record production volumes, and a one-off bargain purchase gain.
The state-backed giant posted a net profit of SR7.35 billion ($1.95 billion) for the full year 2025, an increase from SR2.87 billion in the previous year. The firm’s revenue surged by 19 percent to SR38.58 billion, up from SR32.55 billion in 2024.
This comes as Saudi Arabia steps up efforts to expand its mining sector as a pillar of economic diversification, encouraging international participation and private investment to unlock the Kingdom’s estimated $2.5 trillion in untapped mineral resources under Vision 2030.
In a statement on Tadawul, the company said: “Performance was led by record phosphate production, near record aluminum production, an increase in all three of Maaden’s main output commodity prices.”
The performance was also fueled by a 60 percent increase in gross profit, which reached SR14.79 billion. In its annual results announcement, Maaden attributed the top-line growth to “higher commodity market prices for phosphate, aluminum and gold business units,” as well as increased sales volumes in its phosphate and aluminum segments. This was partially offset by slightly lower sales volume in the gold unit.
Maaden’s CEO, Bob Wilt, hailed 2025 as a transformative year for the company, marked by strategic growth and operational excellence. “This was a great year for Maaden’s strategic growth. We delivered strong financial results and sustained operational excellence across the business,” he said in a statement.
“This was driven by growth in production across all businesses, including record-breaking DAP (di-ammonium phosphatevolumes), disciplined cost control across and a clear commitment to our role as a cornerstone of the Saudi economy,” Wilt added.
Profitability was further bolstered by an increased share of net profit from joint ventures and an associate. This included a one-off bargain purchase gain of SR768 million related to Maaden’s investment in Aluminium Bahrain B.S.C. The company also benefited from lower finance costs.
The fourth quarter of 2025 was strong, with Maaden swinging to a net profit of SR1.67 billion, compared to a loss of SR106 million in the same period of the prior year. Quarterly revenue rose 7 percent to SR10.64 billion.
The firm achieved record production of di-ammonium phosphate, reaching 6.72 million tonnes for the year, a 9 percent increase. Aluminum production remained near-record levels, while the company added a net 7.8 million ounces to its reportable gold mineral resources through discovery and resource development.
The phosphate division saw sales jump 17 percent to SR20.77 billion, with the earnings before interest, taxes, depreciation, and amortization margin expanding to 47 percent. The aluminum business reported a 9 percent increase in sales to SR10.99 billion, with EBITDA more than doubling in the fourth quarter.
Looking ahead, Wilt emphasized that the pace of growth will accelerate as the company advances key initiatives, including the Phosphate 3 Phase 1 and Ar Rjum projects, which remain on budget and schedule. Maaden has also secured a gas supply for its future Phosphate 4 project.
“This pace of growth will only accelerate. Not only as we advance projects and increase the scale of our exploration program, but as we continue to grow production and implement technology that will further modernize, streamline and unlock value,” Wilt added.
Earnings per share for the year rose sharply to SR1.91, up from SR0.78 in 2024. Total shareholders’ equity increased by 18.7 percent to SR61.59 billion.
