The Japanese based steelmaker JFE Holdings Inc. have announced that they will make a loss for the fourth quarter of the year as Japan’s steel makers continue to reel from the effects of the disasters that have plagued the country in recent months.

The news comes after it was announced that Nippon Steel Corp will also suffer a net loss of around £43.2 million for the same quarter. This time last year the company was posting profits of nearly £350 million.

The overall poor performance of JFE is attributed to the £208 million loss they took in the wake of the tunami and earthquake that shook the country. A number of their plants suffered heavy damage, which in turn affected steel output.