Glonghui, May 9 | Japan's largest steel manufacturer Nippon Steel (Nippon Steel) announced that net profit for the 2024 fiscal year ending March fell 20.8% to 549.4 billion yen, still exceeding analysts' expectations of 464.6 billion yen. For fiscal year 2025, Nippon Steel expects net profit of 300 billion yen due to continued losses in idle equipment, and domestic and overseas steel demand is expected to continue to be sluggish. The company reiterated that it plans to complete the $15 billion acquisition of American Steel by the end of this year, subject to US approval. Nippon Steel's forecast for this fiscal year does not include the impact of the acquisition of American Steel.
新日铁2024财年净利润下滑近21% 重申计划年底前完成收购美国钢铁
Nippon Steel's net profit for the 2024 fiscal year fell by nearly 21%, reaffirming plans to complete the acquisition of American Steel by the end of the year
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