Nippon Steel Q1 profit down 3 pct, raises outlook

Newswire

TOKYO, July 31 (Reuters) - Nippon Steel Corp said its quarterly profit sank 3 percent on spiralling costs but boosted its full-year forecast by 22 percent after striking deals to raise long contract prices from some of its users. The world's No.2 steelmaker, the biggest beneficiary of strong worldwide sales of Japanese cars including Toyota Motor Corp , booked 144.1 billion yen ($1.3 billion) in April-June recurring profit, which is pretax and before special items. It raised its profit ...

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