Japan-based Nippon Steel Corporation has stated in its consolidated financial and operational report for the first half ending September 30 of the financial year 2024-25 that it aims to complete the acquisition of US Steel by the end of this year, and it intends to achieve a business profit of JPY 1 trillion as soon as possible with the acquisition in question.
Meanwhile, in the given period, the company recorded a net profit of JPY 259.07 billion ($1.68 billion), compared to a net profit of JPY 321.82 billion in the same period of the previous year, while its sales revenues amounted to JPY 4.38 trillion ($28.45 billion), dropping by 0.7 percent from JPY 4.41 trillion recorded in the first half of the previous financial year. In addition, Nippon Steel’s operating profit decreased by 11.3 percent year on year to JPY 375.75 billion ($2.44 billion).
In the first six months of the given financial year, the company produced 19.93 million mt of crude steel, down by 1.3 percent, while its steel product shipments amounted to 15.91 million mt, decreasing by 1.6 percent, both on year-on-year basis.
The company expects its crude steel production and its steel product shipments to be approximately 40 million mt and 31.50 million mt, respectively, in the full financial year.
Nippon Steel forecasts that its sales revenues will amount to JPY 8.6 trillion in the full financial year.