Nippon Steel forecasts significant profit drop in FY25 on tariff uncertainty

Nippon Steel Corp. expects its net profit to fall 42.9pct to JPY 200 bln (USD 1.38 bln) in fiscal 2025, citing uncertainty over U.S. tariffs.

The company, which is facing hurdles in its bid to acquire U.S. Steel Corp., reported a 36.2pct drop in fiscal 2024 profit, hit by inflation and a slowdown in China.

President Tadashi Imai warned of continued weak conditions this year and said the impact of U.S. tariffs remains hard to predict due to frequent changes.

On the U.S. Steel deal, Nippon Steel offered no new comments. Last month, former President Donald Trump directed the Committee on Foreign Investment to issue a recommendation by June 5, with a decision expected within 15 days after that.

1 USD / 144.8 JPY