Japan's Nippon Steel annual profit down 36%, beats forecasts
TOKYO, May 9 (Reuters) - Nippon Steel (5401.T), opens new tab, Japan's top steelmaker, posted on Friday 350.2 billion yen ($2.41 billion) in net profit for the year ended in March, down 36% from a year ago but beating analysts' forecasts.
An LSEG poll of analysts had expected Nippon Steel to post a 334.3 billion yen net profit for the last fiscal year. The company forecast net profit for the year ending next March at 200 billion yen.
Nippon Steel's $15 billion bid for U.S. Steel (X.N), opens new tab, rejected by former U.S. President Joe Biden, is under revision by U.S. authorities.
($1 = 145.4500 yen)
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