According to a report for the fiscal year 2021-22 ending March 31, Nippon Steel Corporation, the largest steel mill in Japan, had a net profit of around 637.32 billion yen, compared with a net loss of 32.43 billion yen in the previous year, due to the improved demand, growth in sales, and recovery after the COVID-19 epidemic.

Meanwhile, the net sales revenue totaled around 6.81 trillion yen, a year-on-year increase of 41%.

For the outlook for the fiscal year 2022, Nippon Steel said that it aimed to gain a business profit of 600 billion yen or more excluding one-off factors.