TOKYO (dpa-AFX) - Nippon Steel Corp. (NISTY.PK, NISTF.PK) reported a first half loss to owners of the parent of 191.16 billion yen compared to profit of 38.75 billion yen, previous year. Basic loss per share was 207.62 yen compared to profit of 42.09 yen. Business loss for the period was 106.52 billion yen compared to profit of 73.10 billion yen. First half revenue declined to 2.24 trillion yen from 3.05 trillion yen, last year.
For fiscal 2020, the company has revised its business profit forecast to a loss of 60.00 billion yen, from previous guidance of a loss of 120.0 billion yen. The company said it is projecting an improved consolidated business loss due to the increase in the production and shipment volumes along with the recovery of steel demand mainly for the manufacturing industry and the uptrend in Group companies' earnings, in the fiscal year ending March 31, 2021.
Copyright RTT News/dpa-AFX
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