Reportedly, Nippon Steel & Sumitomo Metal Corp. (NSSMC), the second largest steelmaker in Japan released its financial result for the fiscal year 2012/13 ended on March 31st. NSSMC posted a net loss of 124.6 billion for the fiscal year 2012/13, in comparison of a net profit of 58.47 billion in a year ago. In the given period of time, the company's net sales totaled 4.4 trillion, rising by 7.3% from a year ago. NSSMC stated that the net loss was caused by the loss on sale of shares of Sumitomo Metal Industries and other investment securities. Besides, NSSMC produced 46.03 million tons of crude steel in the fiscal year 2012/13 and its shipments of steel products totaled 40.97 million tons.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64398&division=A6
