Nippon Steel : Announcement of Forecasts for Performance
August 04, 2020 at 02:06 am EDT
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For Immediate Release
August 4, 2020
Company name:
Nippon Steel Corporation
Representative:
Eiji Hashimoto, Representative Director and President
Code number:
5401
Contact:
Shinnosuke Arita, General Manager, Public Relations Center
Telephone:
+81-3-6867-2135, 2146, 2977, 3419
Announcement of Forecasts for Performance
In view of recent trends in performance, Nippon Steel Corporation (the "Company") announces today its forecasts for the first half and the full fiscal year ending March 31, 2021, which had been undetermined at the time of the announcement of results for the fiscal year ended March 31, 2020 on May 8, 2020.
1. Forecasts for Performance
Consolidated Financial Forecasts for the First Half of Fiscal 2020 (April 1, 2020 - September 30, 2020)
(Millions of yen, except per share figures)
Revenue
Business profit
Profit attributable to
Earning per share (¥)
owners of the parent
Previous forecasts (A)
―
―
―
―
Current forecasts (B)
2,200,000
(150,000)
(200,000)
(217.00)
Change (B-A)
―
―
―
―
% change
―
―
―
―
[Reference] Actual for the
first half of the previous
3,047,183
73,100
38,750
42.09
fiscal year ended March 31,
2020
Consolidated Financial Forecasts for Fiscal 2020 (April 1, 2020 - March 31, 2021)
(Millions of yen)
Business profit
Previous forecasts (A)
―
Current forecasts (B)
(120,000)
Change (B-A)
―
% change
―
[Reference] Actual for the
previous fiscal year ended
(284,417)
March 31,2020
Non-Consolidated Financial Forecasts for Fiscal 2020 (April 1, 2020 - March 31, 2021)
(Millions of yen)
Ordinary profit
Previous forecasts (A)
―
Current forecasts (B)
(200,000)
Change (B-A)
―
% change
―
[Reference] Actual for the
previous fiscal year ended
(40,410)
March 31,2020
2. Reasons for the Announcement
The Company announces today its forecasts for the first half and the full fiscal year ending March 31, 2021, which had been undetermined at the time of the announcement of results for the fiscal year ended March 31, 2020.
Although demand for steel products affected by the COVID-19 is expected to bottom out in the first half of the year and recover in the second half of the year, mainly in the manufacturing industry, it is expected to be low level compared to the pre-pandemic period. As a result, the Company is projecting a consolidated business loss of 120.0 billion yen and a non-consolidated ordinary loss of 200.0 billion yen in the fiscal year ending March 31, 2021.
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Disclaimer
Nippon Steel & Sumitomo Metal Corporation published this content on 04 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2020 06:06:16 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 
