Kobe Steel wins appeal in power plant lawsuit

Kobe Steel (TSE: 5406) announced today that the Osaka High Court dismissed an appeal against the original ruling in a lawsuit concerning the company's Kobe power plant. The lawsuit, initially filed against Kobe Steel and its subsidiary Kobelco Power Kobe No. 2, sought an injunction against the operation of the new Kobe power plant Units 3 and 4, with plaintiffs claiming potential damages from the plant's operations. The original ruling by the Kobe District Court in March 2023 rejected the plaintiffs' claims. Thirty-four local residents appealed that decision. Kobe Steel stated that the current judgment will not affect the company's financial performance. The company also stated that it will continue to respond appropriately in the event that the plaintiffs appeal the current ruling.