TOKYO (dpa-AFX) - Nippon Steel (5401.T) reported first quarter profit attributable to owners of the parent of 75.299 billion yen versus a loss of 195.833 billion yen in the prior-year quarter. Diluted earnings per share was 12.73 yen compared to a loss of 37.47 yen. Operating profit reached 145.511 billion yen, compared to an operating loss of 139.559 billion yen, a year earlier. Business profit was 145.5 billion yen, up 58.1%. Revenue increased to 2.821 trillion yen from 2.009 trillion yen in the prior-year period.
For the first half period, the company forecasts revenue of 5.6 trillion yen, representing a 20.8% increase from the corresponding period in the previous fiscal year. Business profit is projected at 260 billion yen, up 14.3% year-over-year, with profit attributable to owners of the parent company estimated at 120 billion yen. Basic earnings per share for the first half is projected at 23.00 yen.
For the full fiscal year ending March 31, 2027, the company anticipates revenue of 11.2 trillion yen, marking an 11.3% increase from the previous fiscal year. Business profit is forecast at 630 billion yen, up 22.5% year-over-year, while profit attributable to owners of the parent company is expected to reach 290 billion yen. Basic earnings per share for the full year is projected at 55.00 yen.
Nippon Steel shares are trading at 646 yen on the Tokyo Stock Exchange, down 0.15%.
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