Nippon Steel : Financial Results (PDF 1.8MB)

Flash Report

Consolidated Basis

Results for the First Quarter of Fiscal 2022

(April 1, 2022―June 30, 2022)

＜under IFRS＞

Company name:

Stock listing:

Code number: URL: Representative: Contact: Telephone:

Scheduled date to submit Securities Report: Scheduled date to pay dividends:

Preparation of supplemental explanatory materials: Holding of quarterly financial results meeting:

August 4, 2022

NIPPON STEEL CORPORATION

Tokyo Stock Exchange / Nagoya Stock Exchange / Fukuoka Stock Exchange / Sapporo Securities Exchange

5401

https://www.nipponsteel.com/en/index.html

Eiji Hashimoto, Representative Director and President Shinnosuke Arita, General Manager, Public Relations Center [phone], 2146, 2977, 3419

August 9, 2022

-

Yes

Yes (for investment analysts)

(All amounts have been truncated to the nearest millions of Japanese yen.)

1. Consolidated Operating Results and Financial Position through the First Quarter of Fiscal 2022 (April 1, 2022―June 30, 2022)

(1) Consolidated Operating Results (Accumulated)

(Percentage figures are changes from the same period of the previous fiscal year.)

	Revenue		Business profit (*)	Operating profit	Profit before		Profit
		income taxes
	Millions of		%	Millions of	%	Millions of		%	Millions of		%	Millions of		%
	yen		yen	yen		yen		yen
First quarter of Fiscal 2022	1,919,181		27.7	338,873	56.1	338,873		32.2	334,014		33.4	244,145		41.7
First quarter of Fiscal 2021	1,503,151		32.8	217,024	－	256,341		－	250,382		－	172,306		－
	Profit attributable to	Total comprehensive	Basic earnings	Diluted earnings
	owners of the parent	income		per share		per share
	Millions of		%	Millions of	%	Yen		Yen
	yen		yen
First quarter of Fiscal 2022	230,972		42.5	358,534	53.0	250.82		224.28
First quarter of Fiscal 2021	162,129		－	234,367	－	176.08		176.08

(*)Business Profit on Consolidated Statements of Profit or Loss indicates the results of sustainable business activities, and is an important measure to compare and evaluate the Company's consolidated performance continuously. It is defined as being deducted Cost of sales, Selling, general and administrative expenses and Other operating expenses from Revenue, and added Share of profit in investments accounted for using the equity method and Other operating income. Other operating income and expenses are composed mainly of Dividend income, Foreign exchange gains or losses, and Loss on disposal of fixed assets.

(2) Consolidated Financial Position

			Total equity attributable to	Ratio of total equity
	Total assets	Total equity	attributable to owners of the
	owners of the parent
			parent to total assets
	Millions of yen	Millions of yen	Millions of yen	%
First quarter of Fiscal 2022	9,024,437	4,166,472	3,731,449	41.3
Fiscal 2021	8,752,346	3,897,008	3,466,799	39.6

2. Dividends

			Dividends per share
	End of first quarter	End of second quarter	End of third quarter	End of fiscal year	Fiscal year
	Yen	Yen	Yen	Yen	Yen
Fiscal 2021	－	70.00	－	90.00	160.00
Fiscal 2022	－
Fiscal 2022 (Forecasts)		70.00	－	－	－

Notes: Whether the dividends forecasts have been revised: Yes

3. Consolidated Financial Forecasts for Fiscal 2022 (April 1, 2022―March 31, 2023)

(Percentage figures are changes from the same period of the previous fiscal year.)

	Revenue		Business profit		Profit attributable to	Basic earnings per share
			owners of the parent
	Millions of yen		%	Millions of yen		%	Millions of yen	%	Yen
First half of Fiscal 2022	4,000,000		26.4	450,000		(5.8)	300,000	0.4	326.00
Fiscal 2022	8,000,000		17.5	800,000		(14.7)	600,000	(5.9)	652.00

Notes: Whether the consolidated financial forecasts for fiscal 2022 under review have been revised: Yes

• Notes
• 1. Changes in significant subsidiaries (changes in specified subsidiaries accompanying changes in scope of consolidation) during the period: None
  2. Changes in accounting policies and changes in accounting estimates
  3. 1. Changes in accounting policies required by IFRS: None
     2. Changes in accounting policies other than those in (a) above: None
     3. Changes in accounting estimates: None
  4. Number of shares outstanding (common shares)
  5. 1. Number of shares outstanding at the end of the period (including treasury stock)

First quarter of Fiscal 2022	950,321,402 shares
Fiscal 2021	950,321,402 shares
(b) Number of treasury stock at the end of the period
First quarter of Fiscal 2022	29,455,865 shares
Fiscal 2021	29,449,711 shares
(c) Weighted average number of shares outstanding
First quarter of Fiscal 2022	920,869,014 shares
First quarter of Fiscal 2021	920,762,338 shares

• This quarterly flash report is not subject to quarterly review procedures.
• Explanation of the appropriate use of performance forecasts and other related items (Explanation of the appropriate use of performance forecasts)
  The forward-looking statements included in this flash report are based on the assumptions, forecasts, and plans of the Company as of the date on which this document is made public. The Company's actual results may differ substantially from such statements due to various risks and uncertainties.

NIPPON STEEL CORPORATION (5401)

The First Quarter of Fiscal 2022

Index of Attached Documents
Quarterly Condensed Consolidated Financial Statements and Major Notes....................................................................	2
(1)	Quarterly Condensed Consolidated Statements of Financial Position ....................................................................	2
(2)	Quarterly Condensed Consolidated Statements of Profit or Loss and
	Quarterly Condensed Consolidated Statements of Comprehensive Income ...........................................................	4
(3)	Quarterly Condensed Consolidated Statements of Changes in Equity....................................................................	5
(4)	Notes to the Quarterly Condensed Consolidated Financial Statements ..................................................................	7
	(Going Concern Assumption)...............................................................................................................................	7
	(Segment Information) .........................................................................................................................................	7

1

NIPPON STEEL CORPORATION (5401)

The First Quarter of Fiscal 2022

Quarterly Condensed Consolidated Financial Statements and Major Notes

(1) Quarterly Condensed Consolidated Statements of Financial Position

			(Millions of Yen)
ASSETS	March 31, 2022		June 30, 2022
Current assets :
Cash and cash equivalents	551,049	410,832
Trade and other receivables	939,406	930,576
Inventories	1,756,589	1,976,042
Other financial assets	41,357	46,509
Other current assets	226,253	275,484
Total current assets	3,514,655	3,639,444
Non-current assets :
Property, plant and equipment	3,052,640	3,106,540
Right-of-use assets	78,162	77,782
Goodwill	61,741	64,554
Intangible assets	130,497	137,710
Investments accounted for using the equity method	1,079,068	1,181,399
Other financial assets	548,283	525,911
Defined benefit assets	123,563	116,503
Deferred tax assets	158,031	166,953
Other non-current assets	5,701	7,636
Total non-current assets	5,237,691	5,384,993
Total assets	8,752,346	9,024,437

2

NIPPON STEEL CORPORATION (5401)

The First Quarter of Fiscal 2022

				(Millions of Yen)
LIABILITIES	March 31, 2022			June 30, 2022
Current liabilities :
Trade and other payables	1,526,719	1,544,462
Bonds, borrowings and lease liabilities	344,056	387,975
Other financial liabilities	1,042	8,332
Income taxes payable	109,958	101,921
Other current liabilities	36,852	50,300
Total current liabilities	2,018,630	2,092,992
Non-current liabilities :
Bonds, borrowings and lease liabilities	2,309,339	2,230,744
Other financial liabilities	1,207	1,221
Defined benefit liabilities	188,350	191,722
Deferred tax liabilities	39,805	38,604
Other non-current liabilities	298,005	302,679
Total non-current liabilities	2,836,707	2,764,972
Total liabilities	4,855,337	4,857,965
EQUITY
Common stock	419,524	419,524
Capital surplus	393,547	401,414
Retained earnings	2,514,775	2,658,559
Treasury stock	(57,977)	(57,991)
Other components of equity	196,928	309,941
Total equity attributable to owners of the parent	3,466,799	3,731,449
Non-controlling interests	430,209	435,023
Total equity	3,897,008	4,166,472
Total liabilities and equity	8,752,346	9,024,437

3