Nippon Steel : Announcement concerning Differences between Financial Results and the Previous Forecasts for Fiscal 2020
May 07, 2021 at 04:55 am EDT
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For Immediate Release
May 7, 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 concerning Differences between Financial Results
and the Previous Forecasts for Fiscal 2020
Nippon Steel Corporation ("the Company") announces today the differences between the actual financial results for fiscal 2020 and the previous forecasts released on February 5, 2021 in its consolidated and non-consolidated financial statements as per below. The Company also announces the differences between actual financial results for fiscal 2020 and 2019 concerning "Operating profit", "Profit before income taxes" and "Profit for the year" that were not included in the previous forecasts as per below.
1. Differences between the actual financial results and the previous forecasts for fiscal 2020 (April 1, 2020 - March 31, 2021) in its consolidated statements
(Millions of yen, except per share figures)
Revenue
Business profit
Operating profit
Profit before
income taxes
Previous forecasts (A)
4,850,000
30,000
―
―
Actual for fiscal 2020 (B)
4,829,272
110,046
11,381
(8,656)
Change (B-A)
(20,727)
80,046
―
―
% change
(0.4)
266.8
―
―
[Reference] Actual for fiscal
5,921,525
(284,417)
(406,119)
(423,572)
2019 (C)
Change (B-C)
(1,092,253)
394,464
417,501
414,916
% change
(18.4)
―
―
―
Profit for the year
Profit
attributable
Basic earnings
for the year
to owners
per share
of the parent
Previous forecasts (A)
―
(120,000)
(130.00)
Actual for fiscal 2020 (B)
(19,327)
(32,432)
(35.22)
Change (B-A)
―
87,567
94.78
% change
―
―
―
[Reference] Actual for fiscal
(426,120)
(431,513)
(468.74)
2019 (C)
Change (B-C)
406,793
399,081
433.52
% change
―
―
―
2. Differences between the actual financial results and the previous forecasts for fiscal 2020 (April 1, 2020 - March 31, 2021) in its non-consolidated financial statements
(Millions of yen, except per share figures)
Net sales
Operating profit
Ordinary profit
Profit
Earnings per
for the year
share
Previous forecasts (A)
2,820,000
―
(40,000)
(110,000)
(119.00)
Actual for fiscal 2020 (B)
2,820,992
(104,779)
(25,446)
(42,098)
(45.66)
Change (B-A)
992
―
14,553
67,901
73.34
% change
0.0
―
―
―
―
[Reference] Actual for
3,312,949
(119,374)
(40,410)
(455,641)
(494.18)
fiscal 2019 (C)
Change (B-C)
(491,957)
14,595
14,963
413,542
448.52
% change
(14.8)
―
―
―
―
3. Reasons for the Differences
The Company has recorded an increase in profit compared to the previous forecasts mainly due to the improvement in group companies' profit, and the progress in cost improvements.
For further details, please refer to "Flash Report Consolidated Basis Results for Fiscal 2020 (under IFRS)" and "Results and dividends of Fiscal 2020" released today.
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Disclaimer
Nippon Steel & Sumitomo Metal Corporation published this content on 07 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2021 08:54:07 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 
