Nippon Steel raises FY2026 profit forecast on strong US Steel earnings

TOKYO, Aug 4 : Japan's top steelmaker Nippon Steel on Tuesday raised its full-year net profit forecast by 32 per cent to 290 billion yen ($1.84 billion), citing stronger earnings at U.S. Steel amid a firmer U.S. steel market. • Nippon Steel posted a 75.30 billion yen net profit for the April-June first quarter, compared with a 195.83 billion yen net loss a year earlier, when it booked a hefty one-off loss related to the sale of its stake in the AM/NS Calvert joint venture.• "U.S. Steel drove our group earnings," Nippon Steel Chief Financial Officer Takahiko Iwai told a news conference, adding that measures to improve quality and operational efficiencies at U.S. Steel after its acquisition also contributed to higher profits at the U.S. unit.• Nippon Steel raised its underlying business prof