Nippon Steel’s Fiscal 2024 Earnings and Future Outlook

Nippon Steel & Sumitomo ( (NPSCY) ) has released its Q4 earnings. Here is a breakdown of the information Nippon Steel & Sumitomo presented to its investors.

Nippon Steel Corporation, a leading player in the steel industry, is engaged in the manufacturing and sale of steel products, engineering and construction, chemicals and materials, and system solutions. The company is listed on multiple stock exchanges in Japan and is known for its commitment to innovation and sustainability.

In its latest earnings report for fiscal 2024, Nippon Steel Corporation reported a decrease in revenue and profits compared to the previous year. Despite the challenging global economic environment, the company maintained strong earnings through strategic structural reforms and profit improvement measures.

Key financial metrics for fiscal 2024 included a revenue of ¥8,695.5 billion, a business profit of ¥683.2 billion, and a profit attributable to owners of the parent of ¥350.2 billion. The company also reported a significant increase in cash and cash equivalents, ending the year with ¥672.5 billion. Strategic initiatives included expanding overseas operations, particularly in India and the U.S., and advancing carbon neutrality efforts.

Looking ahead, Nippon Steel Corporation anticipates continued challenges in the global steel market but remains focused on achieving its medium- to long-term management goals. The company aims to secure a business profit of ¥600.0 billion or more in fiscal 2025, despite uncertainties in the global economic landscape and potential impacts from international trade policies.