Nippon Steel : Flash Report Consolidated Basis Results for the First Quarter of Fiscal 2021(April 1, 2021―June 30, 2021) ＜under IFRS＞

Flash Report

Consolidated Basis

Results for the First Quarter of Fiscal 2021
(April 1, 2021―June 30, 2021)
	＜under IFRS＞
	August 3, 2021
Company name:	Nippon Steel Corporation
Stock listing:	Tokyo, Nagoya, Sapporo, Fukuoka stock exchanges
Code number:	5401
URL:	https://www.nipponsteel.com/en/index.html
Representative:	Eiji Hashimoto, Representative Director and President
Contact:	Shinnosuke Arita, General Manager, Public Relations Center
Telephone:	[phone], 2146, 2977, 3419
Scheduled date to submit Securities Report:	August 6, 2021
Scheduled date to pay dividends:	-
Preparation of supplemental explanatory materials:	Yes
Holding of quarterly financial results meeting:	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 2021 (April 1, 2021―June 30, 2021)

(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 2021

1,503,151

32.8

217,024

―

256,341

―

250,382

―

172,306

―

First quarter of Fiscal 2020

1,131,604

(25.7)

(27,510)

―

(27,510)

―

(32,577)

―

(41,422)

―

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 2021

162,129

―

234,367

―

176.08

―

First quarter of Fiscal 2020

(42,071)

―

(91,911)

―

(45.69)

―

(*)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, 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 2021	7,753,035	3,353,326	2,971,911	38.3
Fiscal 2020	7,573,946	3,131,387	2,759,996	36.4

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 2020	―	0.00	―	10.00	10.00
Fiscal 2021	―
Fiscal 2021 (Forecasts)		55.00	―	―	―

Notes: 1. Whether the dividends forecasts have been revised: Yes

3. Consolidated Financial Forecasts for Fiscal 2021 (April 1, 2021―March 31, 2022)

（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 2021	3,100,000		38.3	350,000		―	200,000	―	217.00
Fiscal 2021	6,500,000		34.6	600,000		445.2	370,000	―	402.00

Notes: 1. Whether the consolidated financial forecasts for fiscal 2021 under review have been revised: Yes

• Notes
• 1. Changes in significant subsidiaries 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 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 2021	950,321,402 shares
Fiscal 2020	950,321,402 shares
(b) Number of treasury stock at the end of the period
First quarter of Fiscal 2021	29,553,811 shares
Fiscal 2020	29,564,533 shares
(c) Weighted average number of shares outstanding
First quarter of Fiscal 2021	920,762,338 shares
First quarter of Fiscal 2020	920,681,631 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 2021

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 2021

Quarterly Condensed Consolidated Financial Statements and Major Notes

(1) Quarterly Condensed Consolidated Statements of Financial Position

			(Millions of Yen)
ASSETS	March 31, 2021		June 30, 2021
Current assets :
Cash and cash equivalents	359,465	381,530
Trade and other receivables	805,306	751,461
Inventories	1,349,355	1,449,923
Other financial assets	27,772	33,538
Other current assets	130,786	181,680
Total current assets	2,672,686	2,798,135
Non-current assets :
Property, plant and equipment	2,954,938	2,989,635
Right-of-use assets	88,559	84,674
Goodwill	46,341	47,111
Intangible assets	95,826	114,589
Investments accounted for using the equity method	817,328	846,063
Other financial assets	628,226	588,476
Defined benefit assets	110,396	115,389
Deferred tax assets	153,123	162,614
Other non-current assets	6,519	6,344
Total non-current assets	4,901,260	4,954,899
Total assets	7,573,946	7,753,035

2

Nippon Steel Corporation (5401)

The First Quarter of Fiscal 2021

			(Millions of Yen)
LIABILITIES	March 31, 2021		June 30, 2021
Current liabilities :
Trade and other payables	1,382,761	1,300,208
Bonds, borrowings and lease liabilities	308,985	377,194
Other financial liabilities	1,250	1,351
Income taxes payable	24,256	93,282
Other current liabilities	54,077	44,295
Total current liabilities	1,771,331	1,816,332
Non-current liabilities :
Bonds, borrowings and lease liabilities	2,250,246	2,158,131
Other financial liabilities	4,784	5,544
Defined benefit liabilities	189,453	183,815
Deferred tax liabilities	37,385	39,459
Other non-current liabilities	189,358	196,425
Total non-current liabilities	2,671,228	2,583,375
Total liabilities	4,442,559	4,399,708
EQUITY

Common stock	419,524
Capital surplus	393,168
Retained earnings	1,910,333
Treasury stock	(58,342)
Other components of equity	95,311
Total equity attributable to owners of the parent	2,759,996
Non-controlling interests	371,390
Total equity	3,131,387
Total liabilities and equity	7,573,946

419,524

393,257

2,081,017

(58,337)

136,448

2,971,911

381,415

3,353,326

7,753,035

3