OREANDA-NEWS. Nippon Steel & Sumitomo Metal Corporation (NSSMC or the Company) posted third-quarter consolidated net sales of JPN 4,037.4 billion, operating profit of JPN 221.6 billion, ordinary profit of JPN 282.2 billion. Net income amounted to JPN 192.7 billion due to the incorporation of a gain on the sale of investments in securities and a loss on inactive facilities.

The Nippon Steel & Sumitomo Metal Corporation Group's business segments continued efforts to improve their revenues and earnings by responding to the changing operating environment of each of their business segments.

Steel exports continued to show signs of recovery but the global market conditions remained severe amid ongoing stagnant demand for steel materials, which was caused by persistently strong supply pressure from Chinese steelmakers. The steelmaking and steel fabrication segment recorded net sales of JPN 3,599.1 billion and ordinary profit of JPN 255.7 billion.

Nippon Steel & Sumikin Engineering Co., Ltd. endeavored to secure orders for large-scale projects and reduce costs with the aim of strengthening its competitiveness. The segment also strived to raise its overseas sales ratio and develop new products and businesses. The engineering and construction segment posted net sales of JPN 203.8 billion and ordinary profit of JPN 7.6 billion.

Nippon Steel & Sumikin Chemical Co., Ltd. recorded sluggish sales of needle coke used in graphite electrodes, epoxy resins, and circuit board materials. The styrene monomer market continued to be brisk but is showing some signs of reaching its peak. Sales were also strong for display materials, organic EL materials, and other products. The chemicals segment recorded net sales of JPN 174.2 billion and ordinary profit of JPN 10.0 billion.

Nippon Steel & Sumikin Materials Co., Ltd. benefited from robust demand in the electronic materials field for surface-treated copper wire, a material alternative to gold bonding wire, and other products. Demand increased in the basic industrial materials and components field for social infrastructure maintenance and reinforcement materials and demand from developing countries was also stronger in the environmental and energy field. The new materials segment posted net sales of JPN 28.4 billion and ordinary profit of JPN 1.4 billion.

NS Solutions Corporation continued to strengthen and expand its cloud computing and other service businesses while fortifying operations in Asia, including the acquisition of all the shares of its Thailand-based subsidiary PALSYS Software Co., Ltd. with the aim of expanding business operations in the region. The system solutions segment recorded net sales of JPN 121.7 billion and ordinary profit of JPN 7.3 billion.