Nippon Steel & Sumitomo Metal : Announcement Concerning Differences between Consolidated Financial Results for the Fiscal Years Ended March 31, 2015, and March 31, 2016
April 28, 2016 at 02:32 am EDT
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For Immediate Release
April 28, 2016
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:
+81-3-6867-2130
Announcement Concerning Differences between Consolidated Financial Results for the Fiscal Years Ended March 31, 2015, and March 31, 2016
Nippon Steel & Sumitomo Metal Corporation (the "Company") hereby reports the difference between the actual financial results for fiscal 2015 and the previous fiscal year. The Company also announces the operating profit for fiscal 2015 which forecast was not disclosed on February 1, 2016 decreased by ¥181,779 million (52.0%) from the previous fiscal year.
Differences between the actual financial results for fiscal 2015 (April 1, 2015 to March 31, 2016) and the previous fiscal year
(Millions of yen)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Previous fiscal year (A)
5,610,030
349,510
451,747
214,293
Current fiscal year (B)
4,907,429
167,731
200,929
145,419
Change (B-A)
(702,600)
(181,779)
(250,817)
(68,873)
% change
(12.5)
(52.0)
(55.5)
(32.1)
(For reference)
Previous forecasts announced on February 1, 2016
4,970,000
―
200,000
140,000
Reasons for the Differences
International steel market conditions were characterized by substantial price declines beginning in the summer, while the slumping oil market led to depressed demand in the energy sector. Accordingly the operating profit for fiscal 2015 decreased from the previous fiscal year.
Nippon Steel & Sumitomo Metal Corporation issued this content on 28 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 April 2016 06:31:23 UTC
Original Document: http://www.nssmc.com/en/ir/library/pdf/20160428_250.pdf
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 & Sumitomo Metal : Announcement Concerning Differences between Consolidated Financial Results for the Fiscal Years Ended March 31, 2015, and March 31, 2016
NIPPON STEEL CORPORATION 
