Nippon Steel, the largest domestic steel company, forecasts the final profit for the current fiscal year as demand for steel products, which had been declining due to the impact of the new coronavirus, has recovered and steel prices are rising. It has been revised upward significantly.
According to the announcement, Nippon Steel's financial results for the entire group for the six months from April to September were 3,163.9 billion yen, a 41.1% increase from the same period last year, and the final profit and loss was 191.1 billion yen. Turned from a deficit to a surplus of 298.7 billion yen.
This is because the demand for steel products, which had been declining last year due to the influence of the new coronavirus, is recovering mainly for the manufacturing industry such as automobiles, and the price of steel products is rising and the management is being rationalized. This is the main factor.
For this reason, we have significantly revised the final profit for the year ending March next year from 370 billion yen to 520 billion yen.
It is expected to reach a record high since the business integration in 2012.
Nippon Steel has decided to close the steelworks in Kure City, Hiroshima Prefecture, and has stopped the operation of the blast furnace in September, and is promoting the rationalization of management by suspending one blast furnace at the steelworks in Wakayama Prefecture.
Vice President Hiroshi Mori said in an online press conference on the 2nd that Toyota Motor Corporation and a major Chinese steel company have filed a lawsuit for damages for infringement of the patent. "Toyota Motor Corporation is one of the most important customers. And I would like to continue to have a good relationship in the future. "