Nippon Steel now expects net profit for the year ending March 2027 to reach 440 billion yen, up sharply from an earlier August projection of 290 billion yen. Stronger performance from the US Steel segment, which includes Slovak subsidiary NSSK, is expected to add 230 billion yen to underlying business profit. The upward revision also benefited from a one-off 96 billion yen capital expenditure tax credit granted by the state of Arkansas. Meanwhile, interim results showed the company rebounding to a 263 billion yen net profit despite typhoons and Middle Eastern tensions.
Key points
Operational improvements and higher steel prices in the United States are driving Nippon…: Operational improvements and higher steel prices in the United States are driving Nippon Steel's medium-term earnings recovery.
The business successfully rebounded from a 113 billion yen loss to post a 263 billion yen…: The business successfully rebounded from a 113 billion yen loss to post a 263 billion yen net profit for the April-September period.
Broader economic strength in the United States accounted for half of the year-on-year gai…: Broader economic strength in the United States accounted for half of the year-on-year gains achieved by the US Steel division.
Sources checked by our analysis pipeline: 1
TOKYO, Nov 5 : Japan's biggest steelmaker Nippon Steel on Thursday raised its net profit forecast for fiscal 2026 by 52 per cent to 440 billion yen ($2.8 billion), citing stronger-than-expected earnings from its US Steel business.
• The forecast, for the year ending March 2027, compares with the company's August estimate of 290 billion yen and a net profit of 17 billion yen in fiscal 2025
• Nippon Steel expects US Steel, including its Slovak subsidiary NSSK, to contribute 230 billion yen to full-year underlying business profit, up 50 billion yen from its previous forecast, helped by higher US steel prices
• The company also expects stronger raw material prices to boost earnings in its raw-materials business. A one-off gain of 96 billion yen from an Arkansas state tax credit related to capital expenditure also contributed to the upgrade
• "The main driver behind the upward revision is US Steel," Chief Financial Officer Takahiko Iwai told a press conference, adding that the huge investment to acquire U.S. Steel had proved to be the right decision
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