Japan’s steelmaker Nippon Steel expects to record a business restructuring loss of around 230 billion yen in its consolidated financial results for the fiscal year ending March 2026 due to the transfer of all shares in NS Kote, Inc., a holding company for its AM/NS Calvert LLC equity, to ArcelorMittal S.A., following the completion of Nippon Steel's merger with U.S. Steel.

Of the total loss, 100 billion yen will be a cash loss, with the remainder being a non-cash loss. While an extraordinary loss was previously expected in non-consolidated financial statements, the overall profit and loss impact is now predicted to be minimal due to a scheme change.

Nippon Steel plans to provide an updated full-year earnings forecast soon but confirms its full-year dividend forecast for fiscal 2025 will remain unchanged.