Nippon Steel to Post 300 Billion yen Level of Recurring Profit in Fiscal 2010

Nippon Steel plans to post around 300 billion yen of consolidated recurring profit for fiscal 2010 started April. The profit was 11.8 billion yen in fiscal 2009 when the firm posted 86.9 billion yen of consolidated recurring loss in the first half. The firm posted 98.7 billion yen of profit in the second half.

Nippon Steel estimates the firm could post around 150 billion yen of consolidated recurring profit in second half of fiscal 2009 without onetime factors including inventory valuation loss and trouble in a blast furnace. The firm plans to post around 150 billion of profit both in first and second half of fiscal 2010.

Nippon Steel plans to increase crude steel output by 16% to 32 million tonnes in fiscal 2010 from fiscal 2009. The firm expects the output could increase more depending on overseas market.