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Investing.com -- Nippon Steel (TYO:5401) reported a net loss of 195.83 billion yen ($1.30 billion) for the quarter ended June 30, sharply exceeding the 25.7 billion yen loss expected by analysts polled by LSEG.
The figure marked a steep decline from the 157.56 billion yen profit recorded in the same period last year.
Operating loss came in at 139.56 billion yen, compared to an operating profit of 236.9 billion yen a year earlier. Business profit stood at 92.02 billion yen.
Revenue dropped to 2 trillion yen from 2.19 trillion yen in the prior-year quarter.
Basic earnings per share (EPS) for the quarter were negative 187.36 yen, down from 169.32 yen in the same period last year.
For the full fiscal year, Nippon Steel forecasts revenue of 10 trillion yen and business profit of 480 billion yen.
It projects a net loss of 40 billion yen, but noted that excluding the impact of the one-time loss from the U.S. Steel transaction, net profit would stand at 220 billion yen.
Underlying business profit, which strips out one-offs and is a key internal metric, is expected to reach 730 billion yen, including 80 billion yen from U.S. Steel.
Nippon Steel also reaffirmed plans to distribute a full-year dividend of 120 yen per share for fiscal 2025, unchanged from the prior year. This includes an interim dividend of 60 yen.
A 5-for-1 stock split is scheduled to take effect on October 1, aimed at broadening its investor base.