Japan's biggest steelmaker Nippon Steel Thursday reported an 11% year-on-year fall in its first-quarter net profit to 157.6 billion yen ($1.05 billion), beating estimates. Nippon Steel had been expected to post a net profit of 108.7 billion yen, according to a LSEG poll of analysts. It raised its net profit forecast for the fiscal year ending in March 2025 to 340 billion yen, from 300 billion yen.
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