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Nikkei Asia

Nippon Steel lifts full-year net profit forecast 32% to 290 billion yen on stronger U.S. Steel results

AI Market Summary
Nippon Steel raised its FY2024 net profit forecast 32% to ¥290bn, driven by stronger U.S. Steel earnings amid a firmer U.S. steel market and post-acquisition quality and efficiency gains. It also lifted its FY2027 underlying profit outlook for U.S. Steel to ¥180bn+ from ¥100bn+, improving earnings visibility for the group and supporting sentiment toward steel-sector equities.
Impact level
● Medium
Affected assets
NCSKS2USD/USDT+4.85%
AI Insight · NCSKS2USD/USDTAI Insight
▲ Bullish
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Nippon Steel raised its forecast for net profit in the 2024 financial year by 32% to 290 billion yen, citing strong performance at U.S. Steel as the U.S. steel market firmed. The company also lifted its projection for U.S. Steel’s underlying business profit in the financial year to March 2027 to 180 billion yen or more, from 100 billion yen or more. The revision reflects operating improvements already achieved, improving earnings visibility for its core assets, Nippon Steel and U.S. Steel.
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