Japanese company Tokyo Steel announced interim consolidated financial results for the nine-month period ending December 31 of the 2025-26 fiscal year.
In the period, the company reported net profit of 9.40 billion yen ($61.13 million), compared with net profit of 16.86 billion yen in the same period previous fiscal year, while sales revenue was 201.85 billion yen ($1.31 billion), down 20.8 percent year on year. In addition, Tokyo Steel's operating profit was 8.17 billion yen ($53.14 million), down from the operating profit of 23.51 billion yen recorded in the same period last year.
In the first nine months of the current fiscal year, the company produced 2.31 million tons of steel, down 5.4% year on year, while total steel sales were 2.18 million tons, down up 9.3% year-on-year.
The company said it expects the business environment to remain more challenging than previously expected amid continued uncertainty in overseas steel markets driven by China's sluggish economy and the resulting surge in steel exports to record levels. The company added that in the domestic market, labor shortages and rising construction costs have led to construction delays and revisions of project plans, which in turn have negatively impacted demand for construction materials.
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