Japan-basedNippon SteelCorporation has announced its financial results for the financial year 2021-22 ended March 31.
In the given period,Nippon Steelrecorded a net profit of JPY 637.32 billion ($4.89 billion), compared to a net loss of JPY 32.43 billion in the previous year, while the company’s net sales amounted to JPY 6.81 trillion ($52.23 billion), increasing by 40.9 percent compared to net sales of JPY 4.83 trillion in the previous financial year.
Meanwhile, in the given financial year,Nippon Steelproduced 38.68 million mt ofcrude steel, up 17.2 percent, while its steel product shipments amounted to 35.56 million mt, increasing by 13.9 percent, both year on year.
According to the company’s statement, given that the outlook is extremely uncertain due to the war between Russia and Ukraine, it is difficult to produce reasonable calculations concerning earnings forecasts for the financial year 2022-23. The company has therefore left its forecasts undecided and will disclose them as soon as reasonable calculations can be made.