Nippon Steel: Core Earnings at 620 Billion Yen; Full-Year Forecast Revised to a Net Loss of 70 Billion Yen

Nippon Steel announced on the 5th that it expects a consolidated net loss of ¥70 billion for the fiscal year ending March 2026. Core business profit excluding its U.S. subsidiary, U.S. Steel, is projected at ¥620 billion, down ¥60 billion from the previous forecast. The revision reflects a worsening business environment, including weak demand from the manufacturing and construction sectors, the impact of low-priced exports from China, and a recent surge in raw material prices. In addition, a one-off impact of approximately ¥40 billion stemming from troubles with blast-furnace ancillary equipment at the Muroran area of the North Japan Works has been factored in. Operating profit is expected to be ¥420 billion, representing a 38.5% year-on-year decline.