TOKYO (dpa-AFX) - Nippon Steel Corp. (NISTY.PK) reported Friday that its nine-month loss attributable to owners of parent was 357.38 billion yen, compared to last year's profit of 206.63 billion yen. Loss per share were 388.23 yen, compared to profit of 234.11 yen last year.
Operating loss was 372.50 billion yen, compared to operating profit of 241.03 billion yen in the prior year. Business loss was 279.30 billion yen, compared to business profit of 263.38 billion yen a year ago.
Consolidated net sales dropped 2.2 percent to 4.48 trillion yen from 4.58 trillion yen last year.
Looking ahead to fiscal 2019, the company now expects attributable loss of 440 billion yen or 478 yen per share, business loss of 310 billion yen, and net sales of 5.90 trillion yen, down 4.5 percent from last year.
The company previously expected attributable profit of 40 billion yen or 43 yen per share, business profit of 100 billion yen, and net sales of 6.10 trillion yen.
The revision in outlook reflects lower production and shipment volume, deteriorating earnings at group companies, and the recording of impairment losses on operating assets.
Copyright RTT News/dpa-AFX