NSSMC operating profit down 32% in year ending March 2017

Japanese steel producer Nippon Steel & Sumitomo Metal Corp (NSSMC) reported a 31.91% year-on-year decrease in operating profit for its business year ending on March 31, 2017, in an earnings statement published on Friday April 28.

Operating profit on a consolidated basis for the company’s business year was reported at ¥114.20 billion ($1.03 billion), down from ¥167.73 billion ($1.51 billion) a year earlier. NSSMC implemented “maximum cost improvement measures, and group companies, mainly those engaged in overseas business, showed an improvement in earnings”, the company said. Results, however, were negatively affected by a less favourable sales mix. This...

Published

Maria Tanatar

April 28, 2017

16:25 GMT

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