Nippon Steel & Sumitomo Metal : Announcement of Revision in Forecast for Dividend

For Immediate Release

February 1, 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:	[phone]
Announcement of Revision in Forecasts for Dividend

The Board of Directors of Nippon Steel & Sumitomo Metal Corporation ("the Company") held on February 1, 2018 has decided to revise the forecasts for year-end dividend from retained earnings as follows.

1. Reason for the Revision

When the first half results were announced on October 27, the Company had not determined a year-end dividend distribution amount for the current fiscal year ending March 31 2018. In accordance with the basic profit distribution policy described previously announced, after due consideration of the earnings forecasts for the year and other factors, the Company intends to distribute a dividend of ¥30 per share at the end of the second half (year-end). This would bring the full-year dividend distribution amount to ¥60 per share, representing a consolidated dividend payout ratio of approximately 30%.

2. Details for the Revision

(yen)

Dividends per share
End of the first half	End of the second half	Full fiscal year
Previous forecasts (Data released on October 27, 2017)	Undecided	Undecided
Revised forecasts	30	60
Actual for the current fiscal year ending March 31, 2018	30
Actual for the previous fiscal year ended March 31, 2017	0	45	45