Japan’s Nippon Steel Corp announced that its second quarter net income dropped by 12% YoY to JPY 78.92 billion yen hurt by higher materials costs.
 
 Its sales improved by 17% to JPY 1.40 trillion yen.
 
 For the first six months through September, the company’s net profit was down by 8.4% to JPY 161.68 billion. Operating profit declined by 6.1% to JPY 248.41 billion and sales were down by 12.3% YoY to JPY 2.6 trillion in the first half of the business year starting in April.

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