Japanese company Tokyo Steel has announced interim consolidated financial results for the first half of the year ending September 30, 2025-26 fiscal year.
In the quarter, the company reported a net profit of 4.57 billion yen ($30.37 million), compared with a net profit of 9.83 billion yen in the same period of the previous fiscal year, while sales revenue totaled 133.89 billion yen ($889.81 million), down 23.2 percent year-on-year In addition, Tokyo Steel's operating profit was 6.04 billion yen ($40.17 million), down from an operating profit of 13.92 billion yen recorded in the same half of last year.
In the first six months, the company produced 1.37 million tons of steel, a decrease of 9.5% year-on-year, while its total steel sales amounted to 1.43 million tons, a decrease of 13.5% year-on-year.
At the same time, the company revised down its net profit forecast to 10 billion yen for the 2025-26 fiscal year, while sales revenue and operating profit are expected to reach 264.3 billion yen and 10.5 billion yen, respectively.
According to a Tokyo Steel report, product shipments fell short of expectations between July and September due to factors including reduced construction capacity caused by labor shortages in the domestic construction industry. In addition, higher fixed costs due to reduced production resulted in lower than expected costs.,
