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Japan's Nippon Steel full-year profit down 21%, beats estimates

For the year ending in March 2025, Nippon Steel forecast a net profit of 300 billion yen

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Published Thu, May 9, 2024 · 02:55 PM
    • Nippon Steel had been expected to post a net profit of 464.6 billion yen, according to a LSEG poll of analysts.
    • Nippon Steel had been expected to post a net profit of 464.6 billion yen, according to a LSEG poll of analysts. PHOTO: REUTERS

    NIPPON Steel, Japan’s biggest steel maker, posted on Thursday (May 9) a 20.8 per cent fall in net profit for the year ended in March to 549.4 billion yen (S$4.78 billion), beating estimates.

    Nippon Steel had been expected to post a net profit of 464.6 billion yen, according to a LSEG poll of analysts.

    For the year ending in March 2025, Nippon Steel forecast a net profit of 300 billion yen.

    The company reiterated that it planned to close its US$15 billion deal to buy US Steel by the end of this year at the latest. REUTERS

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