The world's second biggest steelmaker Japan-based Nippon Steel & Sumitomo Metal Corp. (NSSMC) has announced its financial results for the first half ended September 30 of the financial year 2012-13, posting a net loss of JPY 310.4 billion ($3.9 billion).
In the given period, NSSMC's net sales amounted to JPY 2.61 trillion ($32.9 billion), while the company registered an operating profit of JPY 13.1 billion ($165 million).
Japanese steelmaker stated that its crude steel production in the first half of FY 2012-13 increased by 2.32 percent to 23.34 million mt, compared to the corresponding period of the previous financial year.
In October this year, Japanese steelmakers Nippon Steel and Sumitomo Metals merged to establish the world's second biggest steelmaker Nippon Steel & Sumitomo Metal Corp. with a targeted global steelmaking capacity of 60-70 million mt.