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MarketScreener Homepage  >  Equities  >  Tokyo  >  Nippon Steel Corporation    5401   JP3381000003

NIPPON STEEL CORPORATION

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Nippon Steel : Japan Oct crude steel output dips for fourth month as some plants remained shut

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11/21/2019 | 05:40am EST
FILE PHOTO: The logos of Nippon Steel Corp are displayed at the company headquarters in Tokyo

Japan's crude steel output fell 4.9% in October from a year earlier, marking a fourth straight monthly drop, as some plants remained shut following typhoons and fires, the Japan Iron and Steel Federation said on Thursday.

Crude steel output, which is not seasonally adjusted, declined to 8.16 million tonnes in October from a year earlier, although it was up 1.5% from September.

Japan's biggest steelmaker, Nippon Steel Corp, said last month that one of the two steelmaking plants at its Kimitsu Steel Works near Tokyo would be shut until the end of December to repair a chimney that collapsed in a typhoon in September.

Another plant at Nippon Steel's subsidiary in Hiroshima, Kure Works, has also suspended operations since a fire damaged its operating room in late August.

Japanese steelmakers trimmed their annual profit forecasts earlier this month as slumping steel prices in Asia eroded their export margins, while slower auto demand overseas and falling usage in machinery at home forced them to cut output.

They are suffering from a softening global economy hit by the U.S.-China trade row and rising costs of raw materials such as iron ore as top producer China boosts crude steel output to meet infrastructure demand and support its economy.

By Yuka Obayashi

Stocks mentioned in the article
ChangeLast1st jan.
CHIMNEY CO., LTD. 0.00% 2310 End-of-day quote.-0.60%
NIPPON STEEL CORPORATION -1.65% 1488 End-of-day quote.-8.63%
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Financials (JPY)
Sales 2020 5 997 B
EBIT 2020 107 B
Net income 2020 44 233 M
Debt 2020 2 566 B
Yield 2020 0,94%
P/E ratio 2020 39,3x
P/E ratio 2021 12,7x
EV / Sales2020 0,66x
EV / Sales2021 0,60x
Capitalization 1 370 B
Technical analysis trends NIPPON STEEL CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 1 786,36  JPY
Last Close Price 1 488,00  JPY
Spread / Highest target 47,8%
Spread / Average Target 20,1%
Spread / Lowest Target -19,4%
EPS Revisions
Managers
NameTitle
Kosei Shindo President & Representative Director
Katsuhiro Miyamoto Representative Director, VP & Head-Finance
Akihiko Inoue Representative Director & GM-Technical Development
Shoji Muneoka Director
Eiji Hashimoto Representative Director, VP & GM-Global Business
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