Nakayama Steel Works profit falls 36% on lower sales

Nakayama Steel Works recorded net sales of 38.9bn yen for the three months ended June 30, down 18.4% year-on-year. Profit attributable to owners fell 36.3% to 1.08bn yen.

The steel business segment generated sales of 38.3bn yen with ordinary profit of 1.62bn yen. The engineering business posted sales of 407m yen but recorded a 2m yen ordinary loss. The company's full-year earnings forecast remains unchanged.