Nippon Steel, Japan’s largest steelmaker, reported an 18pct decline in net profit for the April-December period, citing weak domestic and global steel demand.
Net profit fell to JPY 362 bln (USD 2.36 bln) from JPY 440.9 bln a year earlier. The company maintained its full-year profit forecast at JPY 310 bln (USD 2.02 bln) for FY25, ending in March 2025.
Nippon Steel warned of an increasingly challenging market, with sluggish manufacturing and construction activity both in Japan and overseas. Slowing economic growth in China has widened the supply-demand gap, leading to excess production and rising exports. Meanwhile, growing trade restrictions worldwide are fragmenting markets, adding further uncertainty.
In Japan, rising import pressure and weaker-than-expected steel demand have exacerbated the downturn. Given the current conditions, the company sees no near-term improvement in real demand or profit margins.
1 USD / 152.9 JPY
