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Nippon Steel profits fall as oil prices tumble

2015-04-28 23:35:00| Steel - Topix.net

Nippon Steel & Sumitomo Metal said Tuesday its net profit fell almost 12 percent in its fiscal year to March, as plunging oil prices led to losses at a Brazilian affiliate. The Tokyo-based company, one of the world's biggest steelmakers, said its annual net profit came to 214.3 billion yen and forecast weak market conditions for the year ahead.

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