According to SteelOrbis, Tokyo Steel has reported a significant decline in its net profit for the second quarter of the fiscal year 2024-25, posting JPY 9.83 billion ($64.75 million), down from JPY 15.61 billion in the same period last year. Sales revenues also fell by 7.9% to JPY 174.27 billion ($1.15 billion), while operating profit decreased to JPY 13.92 billion ($91.68 million) from JPY 21.54 billion previously. The company attributed the drop to reduced production and sales volumes, impacted by sluggish overseas market conditions and typhoons. Tokyo Steel anticipates a net profit of JPY 25 billion for the full fiscal year.