Japan-based Nippon Steel Corporation has announced its financial and operational results for the first quarter ended June 30 of the financial year 2024-25.
In the given quarter, the company recorded a net profit of JPY 167.02 billion ($1.12 billion), compared to a net profit of JPY 188.48 billion in the same period of the previous year, while its net sales amounted to JPY 2.19 trillion ($14.72 billion), dropping by 0.4 percent from net sales of JPY 2.20 trillion in the first quarter of the previous financial year. In addition, Nippon Steel’s operating profit decreased by 4.7 percent year on year to JPY 236.98 billion ($1.59 billion).
Meanwhile, in the first three months of the given financial year, the company produced 10.14 million mt of crude steel, down by 0.3 percent, while its steel product shipments amounted to 8.01 million mt, decreasing by 0.7 percent, both on year-on-year basis.
The company expects its crude steel production to be approximately 20.30 million mt and 19.80 million mt, respectively, in the first half and second half of the current financial year.
Nippon Steel expects sales revenues of JPY 4.4 trillion for the first half and sales revenues of JPY 8.8 trillion in the full financial year.