Nippon Steel posts quarterly loss on cost to buy U.S. Steel

Nippon Steel Corp. on Friday projected a fiscal-year 2025 loss due to costs tied to its $14.9 billion acquisition of U.S. Steel.

The Tokyo-based steel producer also noted that it was required to transfer its 50% stake in joint venture AM/NS Calvert to partner ArcelorMittal. The transfer resulted in a one-time loss of ¥231.5 billion ($1.56 billion). (Editor’s note: Nippon Steel reports results in Japanese yen.)