TOKYO (dpa-AFX) - Shares of Nippon Steel Corp. (NISTY.PK, NISTF.PK) were gaining around 2 percent in the trading in Japan after the company reported Tuesday higher earnings and revenues for the first half, and lifted its earnings view for fiscal 2022. The company also lifted dividend.
For the first half, profit attributable to shareholders climbed 24.7 percent to 372.37 billion yen or 361.40 yen per share from 298.73 billion yen or 324.43 yen per share a year ago.
Operating profit moved up 26.5 percent to 532.51 billion yen, and business profit grew 13.4 percent from last year to 541.75 billion yen.
Revenues of 3.87 trillion yen increased 22.5 percent from prior year's 3.16 trillion yen.
Looking ahead for the fiscal 2022, Nippon now projects attributable profit of 670 billion yen or 728 yen per share, and business profit of 870 billion yen.
The company previously expected to record a profit of 600 billion yen or 652 yen per share.
The company continues to expect full-year revenues of 8.00 trillion yen.
Further, the Board passed a resolution to pay the first half year-end dividend of 90 yen per share, higher than previously announced 70 yen, and up from last year's 70 yen.
In Japan, Nippon Steel shares were trading at 2,083.50 yen, up 2.01 percent.
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