NIPPON STEEL NISSHIN CO., LTD. (Presentation Materials) （１／３）
01-Feb-16
Nisshin Steel Co., LTD. Ⅰ. Consolidated Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2016 (FY2016)
Consolidated Operating Results
（Billions of yen）
No
FY2016
FY2015
Apr-Dec (Actual) f
1st half
2nd half
Oct-Dec (Actual) d
(Actual) e
Apr-Jun
(Actual) a
Jul-Sep
(Actual) b
(Actual) c
Net sales
1
137.2
139.5
276.7
133.2
409.9
459.7
Operating income
2
1.0
5.3
6.3
0.6
6.9
15.4
Ordinary income
Ordinary steel / Special steel
3
3.8
5.6
9.4
3.1
12.5
12.5
Stainless steel
4
(2.0)
(2.0)
(4.0)
(4.0)
(8.0)
4.5
Total
5
1.8
3.6
5.4
(0.9)
4.5
17.0
Profit attributable to owners of parent
6
1.2
0.8
2.0
(2.0)
0.0
12.9
Difference
（ⅰ） e-f
（ⅲ） d-b
(49.8)
(6.3)
(8.5)
(4.7)
0.0
(2.5)
(12.5)
(2.0)
(12.5)
(4.5)
(12.9)
(2.8)
Inventory evaluation
Ordinary steel / Special steel
7
(1.0)
(1.0)
(2.0)
(2.0)
(4.0)
(1.0)
Stainless steel
8
(1.5)
(1.5)
(3.0)
(3.0)
(6.0)
3.5
Total
9
(2.5)
(2.5)
(5.0)
(5.0)
(10.0)
2.5
(3.0)
(1.0)
(9.5)
(1.5)
(12.5)
(2.5)
Other Information
No
FY2016
FY2015
Apr-Dec (Actual) f
1st half
2nd half
Oct-Dec (Actual) d
(Actual) e
Apr-Jun
(Actual) a
Jul-Sep
(Actual) b
(Actual) c
Crude steel production
(10,000tons)
Ordinary steel / Special steel
1
79
79
158
78
236
248
Stainless steel
2
15
19
34
16
50
55
Total
3
94
98
192
94
286
303
Sales volume
(10,000tons)
Ordinary steel / Special steel
4
74
76
150
75
225
238
Stainless steel
5
12
13
25
12
37
45
Total
6
86
89
175
87
262
283
Average sales price of steel products(1,000yen/tons)
7
124
120
122
114
119
127
Export ratio(monetary basis;%)
8
17
16
16
14
16
17
Export exchange rate(yen/US$)
9
121
122
122
121
122
106
Difference
（ⅰ） e-f
（ⅲ） d-b
(12)
(1)
(5)
(3)
(17)
(4)
(13)
(1)
(8)
(1)
(21)
(2)
(8)
(6)
(1)
(2)
16
(1)
Breakdown of Differences in Ordinary Income
ⅰ）First nine months of FY2015(Actual) vs First nine months of FY2016(Actual)
（Billions of yen） (Of which stainless steel)
First nine months of FY2015(Actual)
17.0
Breakdown
4.5
Sales related
(22.0)
Price difference (20.0), Volume and composition difference (7.0),
Export exchange difference 5.0
(6.5)
Purchasing price
26.5
Iron ore 20.0, Coking coal 3.0, Oil 7.5, Nickel 11.0,
Import exchange difference (18.0)
7.5
Cost improvement, etc.
0.0
Rationalization, etc.
0.0
Subsidiaries, etc.
(4.5)
Overseas consolidated subsidiaries(4.5)
(4.0)
Inventory evaluation
(12.5)
2.5→(10.0) （Of which, stainless steel 3.5→(6.0))
(9.5)
Total
(12.5)
(12.5)
First nine months of FY2016(Actual)
4.5
(8.0)
ⅱ）2Q of FY2016(Actual) vs 3Q of FY2016(Actual)
（Billions of yen） (Of which stainless steel)
2Q of FY2016(Actual)
3.6
Breakdown
(2.0)
Sales related
(5.5)
Price difference (3.5), Volume and composition difference(2.0)
(2.0)
Purchasing price
4.0
Iron ore 1.0, Coking coal 0.5, Oil 0.5, Nickel 2.0
2.0
Cost improvement, etc.
0.5
Rationalization, etc.
0.5
Subsidiaries, etc.
(1.0)
Overseas consolidated subsidiaries(1.0)
(1.0)
Inventory evaluation
(2.5)
(2.5)→(5.0) （Of which, stainless steel (1.5)→(3.0))
(1.5)
Total
(4.5)
(2.0)
3Q of FY2016(Actual)
(0.9)
(4.0)
（２／３）
vs Mar 31,2015
Interest-bearing debt
Other liabilities
283.7
205.0
(6.0)
(3.6)
Total liabilities
488.8
(9.7)
Common stock and additional paid-in capital
106.3
(14.7)
Retained earnings
84.7
10.6
Treasury stock, at cost
(0.5)
(0.0)
Accumulated other comprehensive income
63.8
(4.3)
Non-controlling interests
7.2
(1.7)
Total net assets
261.6
(10.2)
Total liabilities and net assets
750.5
(20.0)
Consolidated Balance Sheet（December 31, 2015）
vs Mar 31,2015 | ||
Cash on hand and in banks | 22.7 | (3.5) |
Accounts receivable | 78.3 | (0.6) |
Inventories | 139.6 | (4.5) |
Other current assets | 20.4 | (10.4) |
Tangible and intangible fixed assets | 283.2 | 5.4 |
Investments in securities, etc. | 206.0 | (6.3) |
Total assets | 750.5 | (20.0) |
Ⅱ．Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2016 (FY2016)
No | FY2016 | FY2016 (Previous forecast) d | FY2015 (Actual) e | ||||
1st half (Actual) a | 2nd half (Forecast) b | (Forecast) c | |||||
Net sales | 1 | 276.7 | 272.3 | 549.0 | 561.0 | 617.5 | |
Operating income | 2 | 6.3 | 4.7 | 11.0 | 12.5 | 21.0 | |
Ordinary income | Ordinary steel / Special steel | 3 | 9.4 | 7.6 | 17.0 | 19.0 | 16.1 |
Stainless steel | 4 | (4.0) | (6.5) | (10.5) | (9.5) | 3.5 | |
Total | 5 | 5.4 | 1.1 | 6.5 | 9.5 | 19.6 | |
Profit attributable to owners of parent | 6 | 2.0 | (1.0) | 1.0 | 4.5 | 16.9 | |
Consolidated Earnings Forecasts
Inventory evaluation
Ordinary steel / Special steel
7
(2.0)
(4.0)
(6.0)
(4.0)
(2.5)
Stainless steel
8
(3.0)
(5.0)
(8.0)
(4.5)
2.5
Total
9
(5.0)
(9.0)
(14.0)
(8.5)
0.0
Other Information
（Billions of yen）
Difference
（ⅰ）
c-d
（ⅱ）
c-e
(12.0)
(68.5)
(1.5)
(10.0)
(2.0)
0.9
(1.0)
(14.0)
(3.0)
(13.1)
(3.5)
(15.9)
(2.0)
(3.5)
(3.5)
(10.5)
(5.5)
(14.0)
（Billions of yen）
No
FY2016
FY2016
FY2015
1st half
(Actual) a
2nd half
(Forecast) b
(Forecast) c
(Previous
forecast)
(Actual)
d
e
Crude steel production
(10,000tons)
Ordinary steel / Special steel
1
158
161
319
322
327
Stainless steel
2
34
32
66
66
71
Total
3
192
193
385
388
398
Sales volume
(10,000tons)
Ordinary steel / Special steel
4
150
154
304
304
321
Stainless steel
5
25
28
53
53
60
Total
6
175
182
357
357
381
Average sales price of steel products(1,000yen/tons)
7
122
114
118
118
127
Export ratio(monetary basis;%)
8
16
14
15
16
17
Export exchange rate(yen/US$)
9
122
121
121
121
109
Difference
（ⅰ）
c-d
（ⅱ）
c-e
(3)
(8)
0
(5)
(3)
(13)
0
(17)
0
(7)
0
(24)
0
(9)
(1)
(2)
0
12
Breakdown of Differences in Ordinary Income ⅰ）FY2016(Previous forecast) vs FY2016(Forecast)
（Billions of yen） (Of which stainless steel)
FY2016(Previous Forevast)
9.5
Breakdown
(9.5)
Sales related
(3.0)
Price difference (3.0), Volume and composition difference 0.0
0.0
Purchasing price
7.0
Iron ore 1.5, Coking coal 0.5, Oil 1.0, Nickel 2.5
4.0
Cost improvement, etc.
0.0
0.0
Subsidiaries, etc.
(1.5)
Overseas consolidated subsidiaries(1.5)
(1.5)
Inventory evaluation
(5.5)
(8.5)→(14.0) （Of which, stainless steel (4.5)→(8.0))
(3.5)
Total
(3.0)
(1.0)
FY2016(Forecast)
6.5
(10.5)
（３／３）
ⅱ）FY2015(Actual) vs FY2016(Forecast)
（Billions of yen） (Of which stainless steel)
FY2015(Actual)
19.6
Breakdown
3.5
Sales related
(34.5)
Price difference (33.0), Volume and composition difference(7.5),
Export exchange difference 6.0
(13.5)
Purchasing price
41.0
Iron ore 25.0, Coking coal 4.5, Oil 10.5, Nickel 18.5,
Import exchange difference (22.5)
15.5
Cost improvement, etc.
0.4
Rationalization, etc.
0.0
Subsidiaries, etc.
(6.0)
Overseas consolidated subsidiaries(6.0)
(5.5)
Inventory evaluation
(14.0)
0→(14.0) （Of which, stainless steel (2.5→(8.0))
(10.5)
Total
(13.1)
(14.0)
FY2016(Forecast)
6.5
(10.5)
Cash Dividends
We have decided to pay year-end cash dividends of ¥25.0 per share considering stable shareholder returns and
consolidated results and earnings forecasts for this FY2016.
As a result, annual cash dividends for the FY2016 will be ¥40.0 per share.
(Reference) Interest-Bearing Dept and Net D/E Ratio
31-Mar-14 | 31-Mar-15 | 31-Dec-15 | |
Cash on hand and in banks(Billions of yen) | 40.8 | 26.3 | 22.7 |
Interest-bearing debt(Billions of yen) | 323.5 | 289.8 | 283.7 |
Net D/E ratio | 1.36 | 1.00 | 1.03 |
〃 (based on the credit rating) ※ | 1.11 | 0.86 | 0.88 |
※Net D/E ratio with 50% of the principal of hybrid securities/hybrid loans,
which receive equity credit from Japan Credit Rating Agency, deemed as capital. (50% of 50 billion yen at the end of March of 2014,
as well as 50% of 40 billion yen each at the end of March of 2015 and December of 2015 entered as capital respectively)
END
Nisshin Steel Co. Ltd. issued this content on 01 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 February 2016 06:23:23 UTC
Original Document: http://v4.eir-parts.net/v4Contents/View.aspx?template=ir_material_for_fiscal_ym&sid=22059&code=5413