Nippon Steel Says Outlook Muddied as Profit Drops by Third

  • Kobe Steel confirms full-year loss as shares dive in Tokyo
  • Nippon cites steel price uncertainty for lack of forecast

Nippon Steel & Sumitomo Metal Corp. the world’s largest steelmaker by market value, said profit fell by almost a third in the twelve months through March and that it couldn’t give a target for the year ahead because the outlook for raw material and steel prices remains unclear.

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