On Friday, Nippon Steel Corporation announced that they anticipate their net profit for the fiscal year 2025 will decrease by 42.9% to reach ¥200 billion ($1.38 billion). This outlook stems from increasing uncertainties surrounding the tariffs introduced by the United States.
The Japanese steel company, struggling with its plans to purchase U.S. Steel Corp., reported that its net profit for the fiscal year ending this March plummeted by 36.2% to 350.23 billion yen. This decline was attributed to rising inflation reducing demand for their products and a slowdown in the Chinese economy.
The operating profit fell by 29.6 percent to reach 547.96 billion yen, while sales dropped 1.9 percent to stand at 8.7 trillion yen.