Nippon Steel : Announcement of Revision in Forecasts for Performance
August 03, 2021 at 06:14 am EDT
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For Immediate Release
August 3, 2021
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 Revision in Forecasts for Performance
Nippon Steel Corporation (the "Company") hereby reports the following revision in its consolidated and non-consolidated financial forecasts for the first half and the full fiscal year ending March 31, 2022, which were released at the time of the announcement of results for fiscal 2020 on May 7, 2021.
1. Revision to Forecasts of Operating Performance
Consolidated Financial Forecasts for the First Half of Fiscal 2021 (April 1, 2021 - September 30, 2021)
(Millions of yen, except per share figures)
Revenue
Business profit
Profit attributable to
Basic earnings per
owners of the parent
share (yen)
Previous forecasts (A)
3,000,000
250,000
130,000
141.00
Current forecasts (B)
3,100,000
350,000
200,000
217.00
Change (B-A)
100,000
100,000
70,000
76.00
% change
3.3
40.0
53.8
53.9
[Reference] Actual for the
first half of the previous
2,241,992
(106,523)
(191,164)
(207.62)
fiscal year ended March 31,
2021 (C)
Change (B-C)
858,007
456,523
391,164
424.62
% change
38.3
―
―
―
Consolidated Financial Forecasts for Fiscal 2021 (April 1, 2021 - March 31, 2022)
(Millions of yen, except per share figures)
Revenue
Business profit
Profit attributable to
Basic earnings per
owners of the parent
share (yen)
Previous forecasts (A)
6,000,000
450,000
240,000
261.00
Current forecasts (B)
6,500,000
600,000
370,000
402.00
Change (B-A)
500,000
150,000
130,000
141.00
% change
8.3
33.3
54.2
54.0
[Reference] Actual for the
previous fiscal year ended
4,829,272
110,046
(32,432)
(35.22)
March 31, 2021 (C)
Change (B-C)
1,670,727
489,953
402,432
437.22
% change
34.6
445.2
―
―
Non-Consolidated Financial Forecasts for Fiscal 2021 (April 1, 2021 - March 31, 2022)
(Millions of yen, except per share figures)
Net sales
Ordinary profit
Profit
Earnings per share
(yen)
Previous forecasts (A)
4,000,000
270,000
200,000
217.00
Current forecasts (B)
4,300,000
380,000
280,000
304.00
Change (B-A)
300,000
110,000
80,000
87.00
% change
7.5
40.7
40.0
40.1
[Reference] Actual for the
previous fiscal year ended
2,820,992
(25,446)
(42,098)
(45.66)
March 31, 2021 (C)
Change (B-C)
1,479,007
405,446
322,098
349.66
% change
52.4
―
―
―
2. Reasons for the Revision
The Company is projecting a consolidated business profit of 600.0 billion yen and non-consolidated ordinary profit of 380.0 billion yen in contrast with the previous consolidated and non-consolidated forecasts, due to the improvement of steel prices and the uptrend in Group companies' earnings in the fiscal year ending March 31, 2022.
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Disclaimer
Nippon Steel & Sumitomo Metal Corporation published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:55:17 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 
