Nippon Steel & Sumitomo ( (NPSCY) ) has released its Q2 earnings. Here is a breakdown of the information Nippon Steel & Sumitomo presented to its investors.
Nippon Steel Corporation is a leading steel manufacturing company listed on various stock exchanges in Japan, known for its extensive operations in the steelmaking industry. In its latest earnings report for the first half of fiscal 2024, the company disclosed a consolidated revenue of ¥4,379.7 billion, which is a slight decrease compared to the same period last year. The business profit stood at ¥375.7 billion, marking a significant decline of 24% from the previous year. Despite the challenging global economic conditions, the company managed to maintain a profit attributable to owners of the parent at ¥243.3 billion, a decrease of 18.9% year-on-year. Nippon Steel’s financial position remains robust with total assets increasing to ¥11,201.1 billion and equity reaching ¥5,999.4 billion. The company announced an interim dividend of ¥80 per share for fiscal 2024, maintaining the previous year’s dividend level. Looking ahead, Nippon Steel is optimistic about its future prospects, aiming to achieve a business profit of ¥1 trillion through strategic acquisitions and restructuring efforts, including the pending acquisition of United States Steel Corporation, which is expected to enhance its global market presence.
