Nippon Steel raised its consolidated net profit forecast for the fiscal year ending March 2027 to ¥440 billion, up 52% from its August estimate of ¥290 billion and approximately $2.8 billion at the reported exchange rate. The upgrade was driven primarily by stronger-than-expected earnings from U.S. Steel, including its Slovak subsidiary NSSK, as well as higher raw-material prices and a one-off ¥96 billion Arkansas state tax credit linked to capital expenditure. Nippon Steel now expects U.S. Steel and NSSK to contribute ¥230 billion to full-year underlying business profit, ¥50 billion more than previously forecast. Chief Financial Officer Takahiko Iwai said half of U.S. Steel's earnings improvement came from market conditions and half from measures such as higher operating rates. He said steel prices were supported by the strength of the U.S. economy as well as tariffs, and declined to comment on the potential impact of the U.S. midterm election. For the April-September first half, Nippon Steel reported net profit of ¥263 billion, compared with a ¥113 billion net loss a year earlier, despite disruption from the Middle East conflict, typhoons and heavy rains, mainly in Japan.