Nippon Steel & Sumitomo Metal : Notice Concerning Dividends

For Immediate Release

April 28, 2017

Company name:	Nippon Steel & Sumitomo Metal Corporation
Representative:	Kosei Shindo, Representative Director and President
Code number:	5401
Contact:	Fumiaki Ohnishi, General Manager, Public Relations Center
Telephone:	[phone]

Notice Concerning Dividends

Nippon Steel & Sumitomo Metal Corporation ("the Company") announces that the Board of Directors of the Company held on April 28, 2017 has decided to submit a request for approval of the year-end dividend as follows to the 93rd General Meeting of Shareholders scheduled to be held on June 27, 2017.

1. Details of Year-end Dividend

   Amount	Previous forecast (Feb. 2, 2017)	Fiscal year ended March 31, 2016
   Record date	March 31, 2017	March 31, 2017	March 31, 2016
   Year-end dividend per share of common stock	45 yen	25 yen	15 yen
   Total dividend	39,776 million yen	―	13,544 million yen
   Effective date	June 28, 2017	―	June 27, 2016
   Source of funds for dividend	Retained earnings	―	Retained earnings

2. Reason

Based on the Company's favorable performance since the announcement of the previous earnings forecasts and results for the third quarter on February 2, 2017, the Company plans to request the approval of the General Meeting of Shareholders to increase the planned dividend by ¥20 and also distribute a year-end dividend payment of ¥45 per share in accordance with the basic profit distribution policy described previously announced. This would bring the full-year dividend distribution amount to ¥45 per share, representing a consolidated payout ratio of 30.4% for fiscal 2016.

(Reference) Fiscal year Dividends Breakdown

Annual ordinary dividend per share (Yen)
Record date	September 30 (Interim)	March 31 (Year-end)	Fiscal year
Fiscal year ended March 31,2017	0	45	45
Fiscal year ended March 31,2016	3	15	―

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 fiscal year dividend of the previous fiscal year is shown as "―". Assuming the share consolidation, the fiscal year dividend of the previous fiscal year would be ¥45.