Nippon Steel reported a consolidated net profit of 7.52 billion yen for the April–June quarter of 2026, swinging from a 195.8 billion yen loss a year earlier. The acquisition of major US steelmaker US Steel in June 2025 contributed to earnings, offsetting a struggling domestic business hit by cost increases from Middle East tensions. Revenue rose 40.4 percent year on year to 2.8211 trillion yen. Senior Managing Executive Officer Naohiko Iwai stressed that US Steel has become the group's top earner, and explained that progress in cost cuts through the dispatch of engineers from Nippon Steel and rising US steel market conditions helped improve profitability.
NIPPON STEEL CORP.Nippon Steel swung to a net profit in Q2, helped by US Steel acquisition and cost cuts.
