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

For Immediate Release For Immediate Release

February 1, 2016

Company name:	Nippon Steel & Sumitomo Metal Corporation
Representative:	Kosei Shindo, Representative Director and President
Code number:	5401
Contact:	Nozomu Takahashi, General Manager, Public Relations Center
Telephone:	+81-3-6867-2130

Announcement of Revision in Forecasts for Dividend

The Board of Directors of the Company held on February 1, 2016 has decided to revise the forecasts for year-end dividend from retained earnings as follows.

1. Reason for the Revision

   In accordance with the basic profit distribution policy previously announced, after considering factors that include the earnings forecasts for the current fiscal year, the Company plans to distribute a dividend of ¥15.00 per share at the end of the second half (year-end), which had been undetermined at the time of the announcement of results for the first half of the fiscal year ending March 31, 2016 (on October 29, 2015).

   
   

2. Details for the Revision

(yen)

Dividends per share
Base date	End of the first half	End of the second half	Full fiscal year
Previous forecasts (Data released on October 29, 2015)	Undecided	Undecided
Revised forecasts	15.00	―
Actual for the current fiscal year ending March 31, 2016	3.00
Actual for the previous fiscal year ended March 31, 2015	2.00	3.50	5.50

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, the full fiscal year dividend (forecast) is shown as "―". Assuming the dividend at the end of the first half is recalculated in accordance with the share consolidation, the full fiscal year dividend (forecast) will effectively be ¥45.00 and the consolidated payout ratio 30%.