Japanese steelmaker Marubeni-Itochu Steel Inc. has announced its financial results for the first half ended September 30 of the financial year 2018-19.
For the given period, Marubeni-Itochu has reported a net profit of JPY 13.3 billion ($117 million), increasing by 67.4 percent compared to a net profit of JPY 7.9 billion in the first half of the previous financial year. The company's net sales revenues for the first half of the current fiscal year amounted to JPY 1.157 trillion ($10.1 billion), up 14.7 percent year on year.
The company attributed the increase in its consolidated first-half performance to bullish market conditions in the US and solid progress in domestic sales as well as to the improved performance of its overseas business companies.