Nippon Steel cuts outlook, Aussie flood ups coal cost


TOKYO, Jan 28 (Reuters) - Japan's Nippon Steel Corp , the world's No.4 steelmaker, returned to profit in the nine months to December, but cut its full-year profit outlook by 12 percent after floods in Australia forced it to buy costlier coal on the spot market. Nippon Steel, which supplies Japan's big manufacturers such as Toyota Motor Corp and Panasonic Corp , now sees 220 billion yen ($2.65 billion) in recurring profit -- which is pretax and before special items -- for the year to March ...

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