For Immediate Release

April 28, 2017

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 Fiscal 2016 and the Previous Forecasts

Nippon Steel & Sumitomo Metal Corporation ("the Company") hereby reports the difference between the actual financial results for fiscal 2016 and the previous forecasts which were released on February 2, 2017. The Company also announces the operating profit which was not announced on February 2, 2017, because of a decrease by ¥53,528 million (31.9 %) to the previous fiscal year.

  1. Differences between the actual financial results for fiscal 2016 (April 1, 2016 - March 31, 2017) and the previous forecasts

    (Millions of yen, except per share figures)

    Net sales

    Operating profit

    Ordinary profit

    Profit attributable

    to owners of parent

    Earnings per share (¥)

    Previous forecasts (Figures released on

    February 2, 2017) (A)

    4,550,000

    ―

    130,000

    80,000

    90.00

    Current fiscal year (B)

    4,632,890

    114,202

    174,531

    130,946

    147.97

    Change (B-A)

    82,890

    ―

    44,531

    50,946

    % change

    1.8

    ―

    34.3

    63.7

    (For reference)

    Actual for fiscal 2015

    4,970,429

    167,731

    200,929

    145,419

    158.72

  2. Reasons for the Differences

Compared with the financial forecasts previously released on February 2, 2017, the Company's actual profit for fiscal 2016 increased due to the uptrends in the Group companies' earnings and the change of procurement ratio for each raw material.

Note: The Company carried out the share consolidation at the ratio of 10 shares to 1 share effective October 1, 2015. In accordance with it, earnings per share are calculated based on the assumption that the share consolidation had been carried out at the beginning of the previous fiscal year.

Nippon Steel & Sumitomo Metal Corporation published this content on 28 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 April 2017 06:19:21 UTC.

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