Nippon Steel, the largest steel company, has announced in its one-year earnings forecast until March next year that the final profit of the entire group will be 240 billion yen, turning into the black for the first time in three years.
It is expected to recover from the effects of the new coronavirus, and the production of automobile manufacturers, which are the main customers, is also picking up.
On the other hand, the financial results for the year to March were 4,829.2 billion yen, 18.4% less than the previous year, and the final loss was 32.4 billion yen.