Japan-based Nippon Steel Corporation has announced its financial and operational results for the financial year 2024-25 ended March 31.
In the given financial year, the company recorded a net profit of JPY 382.97 billion ($2.59 billion), compared to a net profit of JPY 587.90 billion in the previous year, while its net sales amounted to JPY 8.70 trillion ($58.78 billion), dropping by 1.9 percent compared to net sales of JPY 8.87 trillion in the previous financial year. In addition, Nippon Steel’s operating profit decreased by 29.6 percent year on year to JPY 547.96 billion ($3.70 billion).
Meanwhile, in the financial year 2024-25, the company produced 39.64 million mt of crude steel, down by 2.1 percent, while its steel product shipments amounted to 31.62 million mt, falling by 1.3 percent, both year on year.
Nippon Steel stated that, following US President Donald Trump’s ordering of a new review of its bid to acquire US Steel, it is continuing to work with the Committee on Foreign Investment in the United States (CFIUS) and the US government to obtain approval for the acquisition. Once the acquisition is completed, the company will have secured a presence in three key geographical areas, by the addition of the US to India and the ASEAN region. It expects that its total crude steel production capacity would thus reach 86 million mt.
