en.Wedoany.com Reported - Nippon Steel Vice Chairman Takahiro Mori said the company expects US Steel's profit to exceed 100 billion yen (approximately $6.24 billion) this year, with a strong market outlook through 2027 and long-term annual profits reaching 300 billion to 400 billion yen.

Mori described the U.S. market environment as extremely favorable, with hot-rolled coil prices exceeding $1,200 per metric ton, more than double the level in Asia. To capitalize on this price advantage, US Steel restarted an idle blast furnace in Illinois in March, which is now operating at full capacity.

These remarks come one year after Nippon Steel completed its $14.9 billion acquisition of US Steel, following an 18-month political and regulatory battle that faced resistance in Washington.

According to Mori, approximately 100 Japanese employees dispatched by Nippon Steel are participating in 260 operational improvement initiatives to enhance productivity and create synergies. US Steel's board has approved about one-third of the $11 billion investment plan that Nippon Steel committed to by 2028, with annual earnings expected to increase to $3 billion by 2035.

Mori acknowledged risks from cost inflation pressures and labor shortages, as well as global uncertainties stemming from geopolitical tensions and trade protectionism. However, Nippon Steel will continue to expand overseas markets, focusing on the United States, India, Thailand, and Europe.

He stated that Nippon Steel aims to increase overseas profits to over 500 billion yen by 2030, nearly five times the level of fiscal 2025. Mori, who led the acquisition negotiations for US Steel, noted that global structural changes have made it more important for companies operating overseas to build relationships with key policymakers and government officials, and to align investments and operations with national industrial policies.

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