Nippon Steel posts $1.3 billion Q1 loss
An LSEG poll of analysts had expected Nippon Steel to post 25.7 billion yen in quarterly losses. A year earlier, Nippon Steel saw a quarterly net profit of 157.56 billion yen.
For the fiscal year as a whole, Nippon Steel forecasts a loss of 40 billion yen, it said.
In June, Nippon Steel closed its $14.9 billion acquisition of U.S. Steel (X.MX), opens new tab after an 18-month struggle to obtain U.S. government approval for the deal, which faced scrutiny due to national security concerns.
($1 = 150.5800 yen)
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