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Nippon Steel Corp. on Thursday revised upward its group net and pretax profit forecasts for the fiscal year to March 31, citing higher prices of steel products stemming mainly from bigger demand overseas.

The steelmaker expects to post a net profit of 200 billion yen and pretax profit of 340 billion yen in the current fiscal year, up from the previous projections of 190 billion yen and 320 billion yen released Oct. 28.

It also revised upward its sales projection for the 12-month period to 3.36 trillion yen from 3.33 trillion yen.

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