For Immediate Release | November 1, 2019 | |
Company name: | Nippon Steel Corporation | |
Representative: | Eiji Hashimoto, Representative Director and President | |
Code number: | 5401 | |
Contact: | Fumiaki Ohnishi, General Manager, Public Relations Center | |
Telephone: | +81-3-6867-2130 |
Announcement of Revision in Forecasts for Performance
Nippon Steel Corporation ("the Company") hereby reports the following revision in its consolidated financial forecasts for the fiscal year ending March 31, 2020, which were released at the time of the announcement of results for the first quarter of fiscal 2019 (on August 1, 2019).
Consolidated Financial Forecasts for the Fiscal 2019 (April 1, 2019-March 31, 2020)
(Millions of yen, except per share figures)
Revenue | Business profit | Profit attributable to | Basic earnings per | ||
owners of the parent | share (¥) | ||||
Previous forecasts (A) | ― | 150,000 | ― | ― | |
Current forecasts (B) | 6,100,000 | 100,000 | 40,000 | 43.00 | |
Change (B-A) | ― | (50,000) | ― | ||
% change | ― | (33.3) | ― | ||
(For reference)Actual the previous | 6,177,947 | 336,941 | 251,169 | 281.77 | |
fiscal year ended March 31, 2019(C) | |||||
Change (B-C) | (77,947) | (236,941) | (211,169) | ||
% change | (1.3) | (70.3) | (84.1) | ||
Reasons for the Revision
The Company released only its business profit forecast in its full-year consolidated forecasts for the fiscal year ending March 31, 2020 at the time of the result announcement for the first quarter of fiscal 2019 (on August 1, 2019) and, after considering current economic conditions, has revised that forecast.
The Company's consolidated business profit is now forecast to be ¥100 billion, as changes such as deterioration in the steel supply-demand environment in Japan and overseas and the impact of disasters that have occurred during the fiscal year have exceeded the company's assumptions made at the time of the previous announcement.
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Nippon Steel & Sumitomo Metal Corporation published this content on 01 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2019 06:51:04 UTC