Japan's Nippon Steel annual profit down 36%, beats forecasts

Reuters

Thu, May 8, 2025, 11:43 PM 1 min read

TOKYO (Reuters) -Nippon Steel, Japan's apical steelmaker, posted connected Friday 350.2 cardinal yen ($2.41 billion) successful nett net for the twelvemonth ended successful March, down 36% from a twelvemonth agone but beating analysts' forecasts.

An LSEG canvass of analysts had expected Nippon Steel to station a 334.3 cardinal yen nett net for the past fiscal year. The institution forecast nett net for the twelvemonth ending adjacent March astatine 200 cardinal yen.

Nippon Steel's $15 cardinal bid for U.S. Steel, rejected by erstwhile U.S. President Joe Biden, is nether revision by U.S. authorities.

($1 = 145.4500 yen)

(Reporting by Katya Golubkova; Editing by Muralikumar Anantharaman)