NIPPON STEEL & SUMITOMO METAL CORPORATION provided earnings guidance for the first half ending September 30, 2016 and fiscal year ending March 31, 2017. For the first half, the company expected net sales of ¥2,200,000 million, ordinary profit of ¥15,000 million.

For the fiscal year 2017, the company expected ordinary profit of ¥130,000 million, capital expenditure approximately of ¥370.0 billion and deprecation approximately of ¥310.0 billion.

The company reported consolidated earnings and production results and non-consolidated production results for the first quarter ended June 30, 2016. For the quarter, the consolidated company posted a loss attributable to owners of parent of ¥14.6 billion or ¥16.44 per share ($139 million) compared to profit attributable to owners of parent of ¥72.7 billion or ¥79.68 per share a year ago. Revenue tumbled nearly 17% to ¥1.05 trillion from ¥1.3 trillion in last year. The company reported operating loss of ¥7.4 billion compared to operating profit of ¥52.4 billion, ordinary loss of ¥12.1 billion compared to ordinary profit of ¥84.4 billion and loss before income taxes of ¥18.3 billion compared to profit before income taxes of ¥103.7 billion in last year.

For the quarter, the consolidated company reported crude steel production of 26.20 million tons compared to 25.86 million tons, pig iron production of 10.49 million tons compared to 10.45 million tons, crude steel production of 11.16 million tons compared to 10.89 million tons for the last year.

For the quarter, the non-consolidated company reported crude steel production of 10.58 million tons compared to 10.31 million tons for the last year.