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Nippon Steel Returns to Profit in Fiscal Q1

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Nippon Steel (TYO:5401) reported attributable profit of 75.3 billion yen for the fiscal first quarter, returning from a loss of 195.8 billion yen a year earlier.

The steel manufacturer's earnings per share were 12.73 yen, compared with a loss per share of 37.47 yen a year ago, according to a Tokyo bourse filing on Tuesday.

Revenue for the three months ended June 30 jumped 40% year on year to 2.821 trillion yen from 2.009 trillion yen.

The company plans an interim and year-end dividend of 12.00 yen per share each for the current fiscal year.

For the fiscal first half ending Sept. 30, the company now expects an attributable profit of 120 billion yen, basic EPS of 23 yen and revenue of 5.600 trillion yen, compared with its previous forecast of an attributable profit of 90 billion yen, basic EPS of 17 yen and revenue of 5.400 trillion yen previously.

For the fiscal year ending March 31, 2027, attributable profit is forecasted at 290 billion yen, basic EPS is expected at 55 yen and revenue is anticipated to be 11.2 trillion yen, up from attributable profit of 220 billion yen, basic EPS of 42 yen and revenue of 11.000 trillion yen expected earlier forecasted previously.

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