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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
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Nippon Steel
Nippon Steel (5401) investor relations material
Nippon Steel Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2027 earnings summary5 Nov, 2026
Executive summary
H1 FY2027 revenue was ¥5,844,153 million, up 26.1% YoY; business profit rose 35.1% to ¥307,413 million, and parent-attributable profit was ¥262,997 million versus a year-earlier loss.
FY2027 underlying business profit is forecast at ¥770.0bn or more; overseas businesses, led by U.S. Steel, are expected to drive growth while domestic operations face cost pass-through delays and weather impacts.
H2 underlying business profit forecast of ¥456.7bn implies an annualized run rate of ¥900.0bn or more, supporting the FY2030 target of ¥1.0tn or more.
Financial highlights
H1 gross profit was ¥835,302 million versus ¥652,458 million; operating profit was ¥307,413 million versus an operating loss of ¥2,835 million.
H1 profit before income taxes was ¥247,009 million versus a loss of ¥30,104 million; net profit was ¥279,129 million versus a loss of ¥98,910 million.
FY2027 sales forecast is ¥11,700.0bn, up ¥500.0bn from the prior forecast; Business Profit forecast is ¥720.0bn, up ¥90.0bn.
Parent-attributable profit forecast is ¥440.0bn, up ¥150.0bn from the prior forecast; includes a one-time ¥96.1bn tax-credit benefit.
H1 FY2026 included a ¥230,369 million reorganization loss; no such line item appears in H1 FY2027 results.
Outlook and guidance
FY2027 underlying business profit forecast: domestic ¥380.0bn and overseas ¥390.0bn; U.S. Steel, including NSSK, is expected to contribute ¥230.0bn or more.
H2 underlying business profit forecast of ¥456.7bn, up ¥143.0bn from H1, reflects domestic production recovery, cost pass-through and overseas contributions.
U.S. Steel FY2027 underlying business profit is forecast at ¥230.0bn or more, ¥50.0bn above the prior forecast; its FY2030 target is ¥300.0bn or more.
FY2030 underlying business profit target is ¥1.0tn or more, including at least ¥500.0bn each from domestic and overseas businesses.
FY2027 annual dividend of ¥24 per share planned; policy targets a ~30% payout ratio and sets a ¥24 minimum dividend.
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Latest events from Nippon Steel
- Profit outlook raised above ¥700bn, with strong overseas growth and a stock split.5401
Q1 2027 - Carbon-neutral steelmaking by 2050 drives major investments, innovation, and GX Steel market creation.5401Investor Day 2026
- Revenue up 15.7%, profit down on U.S. Steel costs; FY2026 outlook strong with U.S. Steel boost.5401Q4 2026
- Profit forecast cut, net loss, and U.S. Steel acquisition reshape outlook and balance sheet.5401Q3 2026
- Targets ¥1 trillion profit and 100 MT steel capacity by 2030, with global expansion and new dividend.5401Investor Day 2025 presentation
- FY2025 Underlying BP raised to ¥680.0 bn, but net loss expected from U.S. Steel acquisition costs.5401Q2 2026
- Profit outlook rises to ¥730B with U.S. Steel, but recent results show a net loss.5401Q1 2026
- $14.1B acquisition expands global steel capacity, boosts U.S. presence, and advances decarbonization.5401M&A Announcement
- Profit outlook lowered on inventory losses, but dividend and U.S. Steel deal progress maintained.5401Q2 2025
Next Nippon Steel earnings date
Q3 20274 Feb, 2027
Nippon Steel
Next Nippon Steel earnings date
Q3 20274 Feb, 2027
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Frequently asked questions
Nippon Steel Corporation is Japan's largest steelmaker, operating globally with manufacturing bases in Japan and over 15 countries. The company's operations span four main segments: Steelmaking and Steel Fabrication, which is its core business area; Engineering and Construction; Chemicals and Materials; and System Solutions. Nippon Steel is committed to advancing in four strategic areas as part of its Medium- to Long-term Management Plan: rebuilding and strengthening its domestic steel business, promoting a global strategy for overseas expansion, pursuing carbon neutrality, and embracing digital transformation. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.