Nippon Steel & Sumitomo Metal Corp. said its profit for the first quarter of fiscal year 2018 was around 96 billion yen, rose by 35% from 71 billion yen in the previous year. It also reported the earnings per share also grew to 109.2 yen roughly from 80.8 yen in the previous year.

The net sales for the first quarter hiked by 6.3% to about 1.4 trillion yen from 1.3 trillion yen in the fiscal year 2017, but the operating profit dropped by 27.6% to 48.20 billion yen from 66.54 billion year-on-year. The expected profit which belonged to the parent company this fiscal year would be 240 billion yen.