Nippon Steel Trading : Summary of Consolidated Financial Results for Fiscal Year Ended March 31, 2022

This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation, nor for direct, indirect, or any other form of damages that may arise from use of this translation.

	Summary of Consolidated Financial Results
	for Fiscal Year Ended March 31, 2022
	(Japanese GAAP)
	May 11, 2022
	Stock Exchange: Tokyo
Listed company name:	NIPPON STEEL TRADING CORPORATION
Code No.:	9810
URL:	https://www.nst.nipponsteel.com/en/
Representative name:	Yasumitsu Saeki, President and Representative Director
Tel.	[phone]

Scheduled ordinary general meeting of shareholders: June 24, 2022

Start of cash dividend payments:	June 27, 2022
Securities report to be submitted:	June 24, 2022
Supplementary materials:	Yes (Japanese only)
IR conference:	Yes (for institutional investors and analysts; Japanese
	only)
	(Figures rounded down to nearest million yen)

1. Consolidated Earnings through the Fiscal Year Ended March 31, 2022 (April 1, 2021 to March 31, 2022)

(1)	Consolidated Operating Results								(%: change from the previous year)
				Net sales			Operating profit		Ordinary profit	Profit attributable to
								owners of parent
			Millions of yen		%		Millions of yen		%	Millions of yen	%	Millions of yen		%
	FYE March 31, 2022		1,865,907		46.8		44,627		99.6	47,810	85.5	35,417		121.5
	FYE March 31, 2021		1,271,050		−		22,361		−	25,772	−	15,992		−
Note:	Comprehensive income
		FYE March 31, 2022	¥39,806 million (86.7%)
		FYE March 31, 2021	¥21,321 million (−%)
			Earnings per share	Diluted earnings per	Return on equity	Ordinary profit/total	Operating profit/net
					share		assets		sales
				Yen			Yen			%			%			%
	FYE March 31, 2022		1,098.03			−			13.2			4.8			2.4
	FYE March 31, 2021		495.79			−			6.5			3.0			1.8
Reference: Shares of profit/loss of entities accounted for using equity method
		FYE March 31, 2022	¥2,439 million
		FYE March 31, 2021	¥2,559 million

• As we have applied the changes in the accounting policies retrospectively, the financial figures shown for the fiscal year ended March 2021 are the figures after the retrospective application. The percentage change from the previous year is not shown.

(2) Consolidated Financial Position

			Total assets		Net assets	Equity ratio	Net assets per share
			Millions of yen		Millions of yen	%	Yen
	As of March 31, 2022		1,100,441		308,198	25.7	8,759.36
	As of March 31, 2021		883,285		278,090	28.9	7,917.51
Reference: Equity capital
	As of March 31, 2022	¥282,534 million
	As of March 31, 2021	¥255,389 million

* As we have applied the changes in the accounting policies retrospectively, the financial figures shown for the fiscal year ended March 2021 are the figures after the retrospective application.

(3) Consolidated Cash Flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities	at the end of period
	Millions of yen	Millions of yen	Millions of yen	Millions of yen
As of March 31, 2022	(113,001)	(5,327)	100,633	28,818
As of March 31, 2021	47,255	(6,451)	(9,993)	55,881

* As we have applied the changes in the accounting policies retrospectively, the financial figures shown for the fiscal year ended March 2021 are the figures after the retrospective application.

2.	Dividends
				Annual dividends per share
					Dividends paid	Payout ratio	Dividends on
						Fiscal		equity ratio
			1Q	2Q	3Q	Total	(total)	(consolidated)
			year end	(consolidated)
			Yen	Yen	Yen	Yen	Yen	Millions of	%	%
			yen
	FYE March 31, 2021	−	50.00	−	110.00	160.00	5,161	32.4	2.1
	FYE March 31, 2022	−	160.00	−	190.00	350.00	11,290	31.9	4.2
	FYE March 31, 2023 (Est.)	−	−	−	−	300.00		32.3

• Regarding the second quarter and year-end dividends for the fiscal year ending March 2023 (forecast), since the consolidated earnings forecast for the fiscal year ending March 2023 is prepared only for the full year, and it is not possible to forecast the interim and year-end dividends separately, only the total amount of the annual dividend is indicated.

3. Projected Consolidated Results for Fiscal Year Ending March 31, 2023 (April 1, 2022 to March 31, 2023)

(%: change from the same period of the previous year)

	Ordinary profit	Profit attributable to	Earnings per share
	owners of parent
	Millions of yen	%	Millions of yen	%	Yen
Full fiscal year	43,000	(10.1)	30,000	(15.3)	930.09

* Notes

1. Changes in significant subsidiaries during period (changes in specified subsidiaries resulting in changes in scope of consolidation): None
2. Changes of accounting policies, changes of accounting estimates and retrospective restatements
3. 1. Changes in accounting policies resulting from changes in accounting standards, etc.: Yes
   2. Other accounting policy changes: None
   3. Changes in accounting estimates: None
   4. Restatements: None
4. Number of shares outstanding (common shares)
5. 1. Number of shares outstanding at the end of the period (including treasury shares)

As of March 31, 2022	32,307,800 shares
As of March 31, 2021	32,307,800 shares

ii. Number of treasury shares at the end of the period

As of March 31, 2022	52,712 shares
As of March 31, 2021	51,577 shares
iii. Average number of shares during the period
FYE March 31, 2022	32,255,655 shares
FYE March 31, 2021	32,257,181 shares

(Reference) Overview of Non-consolidated Financial Results

Non-consolidated Results for Fiscal Year Ended March 31, 2022 (April 1, 2021 to March 31, 2022)

(1) Non-consolidated Operating Results								(%: change from the previous year)
		Net sales		Operating profit		Ordinary profit	Profit
		Millions of yen		%	Millions of yen		%	Millions of yen		%	Millions of yen	%
	FYE March 31, 2022	1,245,531		51.6	24,284		65.0	30,430		51.3	23,663	50.2
	FYE March 31, 2021	821,843		−	14,714		−	20,113		−	15,750	−
		Earnings per share		Diluted earnings per share
					Yen			Yen
	FYE March 31, 2022				733.54				−
	FYE March 31, 2021				488.24				−

• As we have applied the changes in the accounting policies retrospectively, the financial figures shown for the fiscal year ended March 2021 are the figures after the retrospective application. The percentage change from the previous year is not shown.

(2) Non-consolidated Financial Condition

			Total assets		Net assets	Equity ratio	Net assets per share
			Millions of yen		Millions of yen	%	Yen
	As of March 31, 2022		835,470		197,023	23.6	6,107.72
	As of March 31, 2021		686,470		186,222	27.1	5,772.70
Reference: Equity capital
	As of March 31, 2022	¥197,023 million
	As of March 31, 2021	¥186,222 million

• As we have applied the changes in the accounting policies retrospectively, the financial figures shown for the fiscal year ended March 2021 are the figures after the retrospective application.

non-consolidated financial results from actual results of the previous period>

As the business environment for the Steel Business has recovered accompanying the recovery of demand for steel domestically and abroad, there has been a difference between the actual results for the previous fiscal year and the actual results for the fiscal year under audit.

• Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
• Explanation for the proper use of earnings projections, and other special matters

(Caution on description of future events, etc.)

The preceding projections are based on information available at the time of the publication of these materials, and are not intended as pledges on the part of the Company that the said projections will be achieved. Actual results may differ materially from projections due to various factors that may occur in the future. For the assumptions on which these earnings projections were based, see "1. Overview of Operating Results and Others,

(1) Outline of Operating Results for the Fiscal Year" on page 2 of the attachment.

(How to acquire supplementary materials)

Supplementary materials were published on TDnet as of May 11, 2022, and they were published on the Group's website on the same date.

(How to acquire materials for briefing session)

The Company has scheduled a briefing session for institutional investors and analysts on May 24, 2022. Soon after the session is over, the presentation materials distributed during the event will be posted on the Company's website (Japanese only).

NIPPON STEEL TRADING CORPORATION (9810)

Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Index of attached documents

1. Overview of Operating Results and Others .....................................................................................................................	2
(1)	Outline of Operating Results for the Fiscal Year ............................................................................................................	2
(2)	Overview of Financial Position for the Fiscal Year ........................................................................................................	3
(3)	Basic Policy on Distribution of Profits, and Dividends in Period under Review and Subsequent Period.......................	4
2. Basic Philosophy for Selecting Accounting Standards ........................................................................................................	4
3. Consolidated Financial Statements and Significant Notes Thereto ...............................................................................	5
(1)	Consolidated Balance Sheets ..........................................................................................................................................	5
(2)	Consolidated Statements of Income and Consolidated Statements of Comprehensive Income ......................................	7
(3)	Consolidated Statements of Changes in Equity ..............................................................................................................	9
(4)	Consolidated Statements of Cash Flows .......................................................................................................................	11
(5)	Consolidated Financial Statements and Significant Notes Thereto...............................................................................	13
	(Notes on Going Concern Assumption)........................................................................................................................	13
	(Changes in Accounting Policies).................................................................................................................................	13
	(Additional Information)...............................................................................................................................................	13
	(Segment Information, etc.) ..........................................................................................................................................	14
	(Per Share Information) ................................................................................................................................................	19
	(Subsequent Events) .....................................................................................................................................................	19

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