Nippon Steel & Sumitomo Metal : Announcement Concerning Differences between Financial Results for Fiscal 2017 and 2016
April 26, 2018 at 12:44 am EDT
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For Immediate Release
April 26, 2018
Company name:
Nippon Steel & Sumitomo Metal Corporation
Representative:
Kosei Shindo, Representative Director and President
Code number:
5401
Contact:
Fumiaki Ohnishi, General Manager, Public Relations Center
Telephone:
+81-3-6867-2130
Announcement Concerning Differences between Financial Results
for Fiscal 2017 and 2016
Nippon Steel & Sumitomo Metal Corporation ("the Company") announces its consolidated operating profit, because of an increase by ¥68,179 million (59.7 %) from the previous fiscal year. The Company also reports its non-consolidated profit, because of an increase by ¥76,734 million (184.7 %) from the previous fiscal year.
1. Differences between the actual financial results for fiscal 2017 (April 1, 2017 - March 31, 2018) and the previous
(Millions of yen, except per share figures)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Earnings per share (¥)
Actual for fiscal 2016 (A)
4,632,890
114,202
174,531
130,946
147.97
Actual for fiscal 2017 (B)
5,668,663
182,382
297,541
195,061
221.00
Change (B-A)
1,035,772
68,179
123,009
64,114
% change
22.4
59.7
70.5
49.0
(For reference) Previous forecasts (Data released on February 1, 2018) (C)
5,700,000
―
300,000
180,000
204.0
Change (B-C)
(31,336)
―
(2,458)
15,061
2. Differences between the actual non-consolidated financial results for fiscal 2017 (April 1, 2017 - March 31, 2018)
and the previous
(Millions of yen, except per share figures)
Net sales
Operating profit
Ordinary profit
Profit
Earnings per share (¥)
Actual for fiscal 2016 (A)
2,974,224
(29,195)
48,132
41,541
46.87
Actual for fiscal 2017 (B)
3,266,686
6,408
107,213
118,275
133.81
Change (B-A)
292,461
35,603
59,081
76,734
% change
9.8
―
122.7
184.7
3. Reasons for the Differences
Compared with the financial results for fiscal 2016, the Company's actual profit for fiscal 2017 increased due to reducing costs and improvements in the earnings of Group companies, including those involved in overseas business.
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Nippon Steel & Sumitomo Metal Corporation published this content on 26 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 April 2018 04:43:01 UTC
Nippon Steel Corporation is one of the Japanese largest iron and steel groups. Net sales break down by activity as follows:
- manufacturing of steel products (88.5%): long steel, flat steel, rails, sheets, iron bars, tubular products, etc.;
- engineering and construction services (4%): design, development and construction of offshore structures, infrastructures and environmental systems;
- technologic services (3.9%);
- manufacturing of chemical product (3.6%): primarily raw materials and iron and steel by-products (coal, coke, tar, etc.).
Net sales are distributed geographically as follows: Japan (60.2%), Asia (22.8%) and other (17%).
NIPPON STEEL CORPORATION 
