Nisshin Steel Co., Ltd. announced consolidated earnings and operating results for the third quarter and nine months ended December 2015. For the quarter, the company reported net sales of ¥133.2 billion, operating income of ¥0.6 billion, ordinary loss of ¥0.9 billion, loss attributable to owners of the parent of ¥2.0 billion.

For the nine months, the company reported net sales of ¥409.9 million compared to ¥459.7 million a year ago, operating income of ¥6.9 million compared to ¥15.4 million a year ago, ordinary income of ¥4.5 million compared to ¥17.0 million a year ago, profit attributable to owners of the parent of ¥0.0 million compared to ¥12.9 million a year ago a year ago. Interest-bearing debt as of December 31, 2015 was ¥283.7 billion down ¥6.0 billion as of March 31, 2015.

For the quarter, the company reported total crude steel production was 940,000 tons, total sales volume of 870,000 tons, average sales price of steel products of ¥114,000 per ton.

For the nine months, the company reported total crude steel production was 2,860,000 tons compared to 2,860,000 tons a year ago, total sales volume of 2,620,000 tons compared to 2,620,000 tons a year ago, average sales price of steel products of ¥1,190,000 per ton compared to 1,900,000 tons a year ago a year ago.

For the second half of 2016, the company expected net sales of ¥272.3 billion, operating income of ¥4.7 billion, ordinary income of ¥1.1 billion, loss attributable to owners of the parent of ¥1.0 billion.

For the fiscal year ending March 31, 2016, the company now expected net sales of ¥549 billion, operating income of ¥11 billion, ordinary income of ¥6.5 billion, profit attributable to owners of the parent of ¥1.0 billion compared to net sales of ¥561 billion, operating income of ¥12.5 billion, ordinary income of ¥9.5 billion, profit attributable to owners of the parent of ¥4.5 billion expected previously for the same period.

For the second half of 2016, the company expected total crude steel production was 1,930,000 tons, total sales volume of 1,820,000 tons, average sales price of steel products of ¥114,000 per ton.

For the fiscal year ending March 31, 2016, the company now expected total crude steel production was 3,850,000 tons, total sales volume of 3,570,000 tons, average sales price of steel products of ¥118,000 per ton compared to total crude steel production was 3,880,000 tons, total sales volume of 3,570,000 tons, average sales price of steel products of ¥118,000 per ton expected previously for the same period.

The company decided to pay year-end cash dividends of ¥25.0 per share considering stable shareholder returns and consolidated results and earnings forecasts for the fiscal 2016. As a result, annual cash dividends for the fiscal 2016 will be ¥40.0 per share.