Nippon Steel Corporation said that it booked a net loss of JPY 29.59 in the July to September 2009 quarter due largely to higher input costs, but the loss was smaller than its prior projection as the recovering Asian market boosted its exports.
The world's second largest steel maker by output posted a profit of JPY 78.92 billion in the same period a year earlier. It forecast a net loss of around JPY 38 billion for the quarter this year. Its net loss in the just ended quarter was wider than the consensus forecast of a JPY 27.2 billion loss compiled by Thomson Reuters based on estimates by 14 analysts.
Consolidated operating results
| H1 '09 | H1 '08 | Change | |
| Net sales | 1,573,338 | 2,602,181 | -39.50% |
| Operating profit | -71,414 | 248,413 | NA |
| Ordinary profit | -86,957 | 262,239 | NA |
| Net income | -71,840 | 161,677 | NA |
In JPY millions
Performance review by business segment in H1
Operating Profit
| H1 '09 | H1 '08 | |
| Steelmaking and steel fabrication | -93.2 | 22.6 |
| Engineering and construction | 11.9 | 5.9 |
| Urban development | 2.9 | 2.2 |
| Chemicals | 5.3 | 8 |
| New materials | -0.2 | 0.2 |
| System solutions | 4 | 4.3 |
| Total | -69.3 | 250.5 |
| Elimination of intersegment transactions | -2 | -2.1 |
| Consolidated total | -71.4 | 248.4 |
In JPY millions
Net Sales
| H1 '09 | H1 '08 | |
| Steelmaking and steel fabrication | 1,259.50 | 2,233.70 |
| Engineering and construction | 154.8 | 168.7 |
| Urban development | 43.8 | 25.5 |
| Chemicals | 86.5 | 136.9 |
| New materials | 29.1 | 35.8 |
| System solutions | 69.8 | 76.4 |
| Total | 1,643.70 | 2,677.30 |
| Elimination of intersegment transactions | -70.3 | -75.1 |
| Consolidated total | 1,573.30 | 2,602.10 |
In JPY billions