Japanese steelmaker Marubeni-Itochu Steel Inc. has announced its financial results for the first half ended September 30 of the financial year 2017-18.
For the given period, Marubeni-Itochu has reported a net profit of JPY 7.9 billion ($69.63 million), increasing by 9.7 percent year on year. The company's net sales revenues for the first half of the current fiscal year amounted to JPY 1.009 trillion ($8.89 billion), up 21.6 percent year on year.
The company stated that solid progress in domestic sales supported its consolidated first-half performance, fueled by increased demand and higher unit prices as well as improved earnings at its overseas business companies. Negative factors in the given period included a slow recovery in energy-related demand and a decline in export transactions under tight supply conditions.