NIPPON STEEL CORPORATION's first quarter of the fiscal year ending March 2027 saw a substantial year-on-year increase in revenue and a substantial increase in operating profit, returning the company to profitability. The share price has been trending higher since early September, and a major Japanese brokerage has raised its target share price to ¥760.
According to a summary of NIPPON STEEL CORPORATION's earnings report, revenue for the first quarter of the fiscal year ending March 2027 rose 40.4% year on year to ¥2.8212 trillion, while business profit increased 58.1% to ¥145.5 billion, with both operating profit and net income returning to positive territory. The impact of the business restructuring loss recorded in the same period of the previous year has fallen away, and the full-year outlook continues to call for higher revenue and profit.
In the latest share price performance, the share price rose from ¥686.4 to ¥702.6 over the 5 trading days from 11 to 17 September, breaking above its 25-day moving average on the 16th, while trading volume increased substantially from the previous day on the 17th. A major Japanese brokerage raised its target share price to ¥760 on 8 September, leaving a gap above the current share price.
As reference indicators, market capitalization was approximately ¥3,680,939 million, shares outstanding were approximately 5,373,633,760, the company forecast a dividend yield of 3.50%, and the dividend per share was ¥24 for the fiscal year ending March 2027.