For Immediate Release
May 7, 2021
Company name: | Nippon Steel Corporation |
Representative: | Eiji Hashimoto, Representative Director and President |
Code number: | 5401 |
Contact: | Shinnosuke Arita, General Manager, Public Relations Center |
Telephone: | +81-3-6867-2135, 2146, 2977, 3419 |
Announcement concerning Differences between Financial Results | |
and the Previous Forecasts for Fiscal 2020 |
Nippon Steel Corporation ("the Company") announces today the differences between the actual financial results for fiscal 2020 and the previous forecasts released on February 5, 2021 in its consolidated and non-consolidated financial statements as per below. The Company also announces the differences between actual financial results for fiscal 2020 and 2019 concerning "Operating profit", "Profit before income taxes" and "Profit for the year" that were not included in the previous forecasts as per below.
1. Differences between the actual financial results and the previous forecasts for fiscal 2020 (April 1, 2020 - March 31, 2021) in its consolidated statements
(Millions of yen, except per share figures)
Revenue | Business profit | Operating profit | Profit before | |||
income taxes | ||||||
Previous forecasts (A) | 4,850,000 | 30,000 | ― | ― | ||
Actual for fiscal 2020 (B) | 4,829,272 | 110,046 | 11,381 | (8,656) | ||
Change (B-A) | (20,727) | 80,046 | ― | ― | ||
% change | (0.4) | 266.8 | ― | ― | ||
[Reference] Actual for fiscal | 5,921,525 | (284,417) | (406,119) | (423,572) | ||
2019 (C) | ||||||
Change (B-C) | (1,092,253) | 394,464 | 417,501 | 414,916 | ||
% change | (18.4) | ― | ― | ― | ||
Profit for the year | ||||||
Profit | attributable | Basic earnings | ||||
for the year | to owners | per share | ||||
of the parent | ||||||
Previous forecasts (A) | ― | (120,000) | (130.00) | |||
Actual for fiscal 2020 (B) | (19,327) | (32,432) | (35.22) | |||
Change (B-A) | ― | 87,567 | 94.78 | |||
% change | ― | ― | ― | |||
[Reference] Actual for fiscal | (426,120) | (431,513) | (468.74) | |||
2019 (C) | ||||||
Change (B-C) | 406,793 | 399,081 | 433.52 | |||
% change | ― | ― | ― | |||
2. Differences between the actual financial results and the previous forecasts for fiscal 2020 (April 1, 2020 - March 31, 2021) in its non-consolidated financial statements
(Millions of yen, except per share figures)
Net sales | Operating profit | Ordinary profit | Profit | Earnings per | |
for the year | share | ||||
Previous forecasts (A) | 2,820,000 | ― | (40,000) | (110,000) | (119.00) |
Actual for fiscal 2020 (B) | 2,820,992 | (104,779) | (25,446) | (42,098) | (45.66) |
Change (B-A) | 992 | ― | 14,553 | 67,901 | 73.34 |
% change | 0.0 | ― | ― | ― | ― |
[Reference] Actual for | 3,312,949 | (119,374) | (40,410) | (455,641) | (494.18) |
fiscal 2019 (C) | |||||
Change (B-C) | (491,957) | 14,595 | 14,963 | 413,542 | 448.52 |
% change | (14.8) | ― | ― | ― | ― |
3. Reasons for the Differences
The Company has recorded an increase in profit compared to the previous forecasts mainly due to the improvement in group companies' profit, and the progress in cost improvements.
For further details, please refer to "Flash Report Consolidated Basis Results for Fiscal 2020 (under IFRS)" and "Results and dividends of Fiscal 2020" released today.
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Disclaimer
Nippon Steel & Sumitomo Metal Corporation published this content on 07 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2021 08:54:07 UTC.