Nippon Steel, the world's second largest steel company has cut its full- year profit forecast.
The company expects pre-tax profit of 560bn yen ($5.4bn, 2.7bn), for the year ending 31 March - a 6.3% drop on the previous year.
Nippon Steel had been forecasting record profits, with a 0.4% rise.
Steel companies around the world have been struggling with soaring iron ore and coal prices. Japan's companies have also been hit by the rising yen.
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