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Nippon Steel Corp. forecasts a consolidated net loss of 45 billion yen for fiscal 2002 after absorbing losses of 142 billion yen, including one-time costs for restructuring a subsidiary, the world’s third-largest steel maker said Thursday.

In its previous earnings forecast issued on Nov. 21, the firm predicted a net profit of 25 billion yen on revenue of 2.66 trillion yen. The steel maker posted a net loss of 28.4 billion yen in fiscal 2001.

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