Nippon Steel's 170 billion yen deficit forecast Annual final profit and loss until March next year

Nippon Steel's 170 billion yen deficit forecast Annual final profit and loss until March next year 19:06 on November 6

For the first time, Nippon Steel has announced that it will have a deficit of 170 billion yen for the year ending March next year.

Demand for automobiles, which had been declining due to the impact of the new coronavirus, is recovering, and the deficit is expected to shrink from the interim results.

Nippon Steel's financial results for the six months to September were a deficit of 191.1 billion yen for the entire group.

This is because the production of automobiles and other products has fallen due to the effects of the new coronavirus, and global demand for steel has declined.

On the other hand, in the one-year results up to March next year, we have shown for the first time that the final profit and loss will be a deficit of 170 billion yen.

As demand for automobiles is recovering from around summer, the deficit is expected to shrink from the interim results.

At a telephone conference on the 6th, Nippon Steel's Vice President Katsuhiro Miyamoto said, "If demand recovers further, we will continue to operate the suspended blast furnaces in sequence."

In addition, the results for the year to March next year announced by Kobe Steel are expected to be a deficit of 15 billion yen in final profit and loss, which is expected to be smaller than previously expected, and the results of major steel makers. Is beginning to see signs of recovery.