Japan-based Tokyo Steel has announced its interim consolidated financial results for the fiscal year 2024-25 ending March 31.
In the given fiscal year, the company reported a net profit of JPY 21.20 billion ($148.77 million), compared to a net profit of JPY 27.96 billion in the previous financial year amid declines in shipment volume and selling prices, while its sales revenues amounted to JPY 326.77 billion ($2.29 billion), declining by 11.0 percent year on year. In addition, Tokyo Steel’s operating profit came to JPY 30.10 billion ($211.24 million), decreasing from an operating profit of JPY 38.07 billion recorded last year.
In the current fiscal year, the company produced 3.20 million mt of steel, dropping by 11.2 percent year on year, while its total steel sales amounted to 3.14 million mt, down by 8.6 percent year on year.
The company stated in its report that the high level of steel exports from China and the tariff policies originating in the United States will have a negative impact on the global steel market.
In the meantime, the company expects its net profit to amount to JPY 13 billion for the financial year 2025-26, while its sales revenues and operating profit are forecast to total JPY 305 billion and JPY 19 billion, respectively.
