Nippon Steel & Sumitomo Metal Corp.'s steelmaking and steel fabrication segment posted an ordinary profit of ¥189.7 billion for the third quarter of its fiscal 2017, more than doubling the ¥81.9 billion posted a year ago.
Net sales for the segment jumped to ¥3.699 trillion in the quarter, from ¥2.926 trillion a year ago.
Nippon Steel separately said it intends to deliver a dividend of ¥30 per share at the end of the second half, for a total dividend of ¥60 per share for fiscal 2017, compared to a dividend of ¥45 per share for fiscal 2016.
In full fiscal 2017, Nippon expects its profit attributable to shareholders to increase 37.5% year over year to ¥180.0 billion and net sales to jump 23% to ¥5.700 trillion.
The company's third-quarter profit attributable to the shareholders surged 162.7% year over year to ¥156.06 billion, or ¥176.81 per share.
Net sales in the three months rose 25% year over year to ¥4.165 trillion, according to the company's Feb. 1 release.
Operating profit in the quarter jumped 122.1% to ¥138.03 billion, while ordinary profit swelled 107.8% to ¥225.48 billion.
