Japan’s largest steel maker Nippon Steel has recorded a net profit of JPY 244.14 billion (USD 1.82 billion) in April-June 2022 quarter as compared to a net profit of JPY 172.31 billion in the same period of the previous year, while the company's net sales amounted to JPY 1.92 trillion, increasing by 28% YoY. Nippon Steel produced 8.69 million tonnes of crude steel, down by 15% YoY while its steel product shipments amounted to 8.19 million tonne down by 101% YoY Nippon Steel Executive Vice President Mr Takahiro Mori said “Domestic steel recovery might be delayed due to higher energy and natural resource prices, with Japanese demand in construction and manufacturing expected to weaken. However, Nippon Steel aims to maximize profits through various measures to improve the earnings structure and passing on higher costs of raw materials and fuels to product prices.” Nippon Steel expects its crude steel production to be approximately 17.50 million tonne both in the first half and second halves of the current year & expects a profit of JPY 300 billion for the first half and of JPY 600 billion for the full financial year
Japan’s largest steel maker Nippon Steel has recorded a net profit of JPY 244.14 billion (USD 1.82 billion) in April-June 2022 quarter as compared to a net profit of JPY 172.31 billion in the same period of the previous year, while the company's net sales amounted to JPY 1.92 trillion, increasing by 28% YoY. Nippon Steel produced 8.69 million tonnes of crude steel, down by 15% YoY while its steel product shipments amounted to 8.19 million tonne down by 101% YoY Nippon Steel Executive Vice President Mr Takahiro Mori said “Domestic steel recovery might be delayed due to higher energy and natural resource prices, with Japanese demand in construction and manufacturing expected to weaken. However, Nippon Steel aims to maximize profits through various measures to improve the earnings structure and passing on higher costs of raw materials and fuels to product prices.” Nippon Steel expects its crude steel production to be approximately 17.50 million tonne both in the first half and second halves of the current year & expects a profit of JPY 300 billion for the first half and of JPY 600 billion for the full financial year
