Nippon Steel's fiscal year profit down 95%

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TOKYO, May 13 : Nippon Steel, Japan's biggest steelmaker, on Wednesday posted 17.2 billion yen ($109 million) in net profit for the fiscal year ended in March, down 95 per cent from the year earlier.

Nippon Steel, which bought U.S. Steel for $15 billion last year and pledged massive investments into the asset, also forecast profit for the current fiscal year at 220 billion yen.

($1 = 157.7300 yen)

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