Tokyo, Aug. 5 (Jiji Press)–Nippon Steel Corp. said Tuesday that it swung to profit in its fiscal first quarter ended in June thanks to improved profitability at United States Steel Corp. The Japanese steelmaker logged a consolidated net profit of 75.2 billion yen for the three months, a turnaround from the year-before loss of 195.8 billion yen. Revenue rose 40.4 pct to 2,821.1 billion yen. Profits from Pittsburgh, Pennsylvania-based U.S. Steel, which the Japanese company acquired in June 2025, helped offset weakness in Nippon Steel’s domestic operations struggling with higher costs caused by the war in Iran. U.S. Steel’s profitability improved thanks to cost-cutting measures implemented with support from Nippon Steel engineers and higher steel prices in the United States. “U.S. Steel has become the group’s top earner,” Takahiko Iwai, senior managing executive officer at Nippon Steel, told a press conference in Tokyo. For the full year ending in March 2027, Nippon Steel raised its revenue projection from 11 trillion yen to 11.2 trillion yen and its net profit forecast from 220 billion yen to 290 billion yen. END [Copyright The Jiji Press, Ltd.]
Nippon Steel Returns to Profit in Fiscal 1st Quarter
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