(Presentation Materials) （１／３）
31-Jul-15
Nisshin Steel Co., LTD.
Ⅰ. Consolidated Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2016 (FY2016)
1. Consolidated Operating Results
（Billions of yen）

No

FY2016

1Q

(Actual)

a

FY2015

1Q

(Actual)

b

Difference a-b

Net sales

1

137.2

151.0

(13.8)

Operating income

2

1.0

2.2

(1.2)

Ordinary income

Ordinary steel / Special steel

3

3.8

2.2

1.6

Ordinary income

Stainless steel

4

(2.0)

(1.0)

(1.0)

Total

5

1.8

1.2

0.6

Profit attributable to owners of parent

6

1.2

0.0

1.2

Inventory evaluation

Ordinary steel / Special steel

7

(1.0)

(0.5)

(0.5)

Inventory evaluation

Stainless steel

8

(1.5)

0.5

(2.0)

Total

9

(2.5)

0.0

(2.5)

2. Other Information

3. Breakdown of Differences in Ordinary Income
ⅰ）1Q of FY2015(Actual) vs 1Q of FY2016(Actual)

（Billions of yen） (Of which stainless steel)

1Q of FY2015(Actual)

1.2

Breakdown

(1.0)

Sales related

Purchasing price

Cost improvement, etc. Subsidiaries, etc. Inventory evaluation

(2.5)

4.5

1.1

0.0 (2.5)

Volume and composition difference (2.5), Price difference (2.0),

Export exchange difference 2.0

Iron ore 7.0, Coking coal 1.0, Oil 1.5, Nickel 2.0, Import exchange difference (7.5)

Rationalization, etc.

0.0→(2.5)　（Of which, stainless steel 0.5→(1.5))

1.0

(0.5)

0.5

0.0 (2.0)

Total

0.6

(1.0)

1Q of FY2016(Actual)

1.8

(2.0)

（２／３）

4. Consolidated Balance Sheet（June 30, 2015）

vs Mar 31,2015

Cash on hand and in banks Accounts receivable Inventories

Other current assets

Tangible and intangible fixed assets

Investments in securities, etc.

22.5

68.0

145.4

29.9

278.4

217.7

(3.7) (10.9)

1.2 (0.9)

0.7

5.3

Total assets

762.2

(8.3)

Ⅱ．Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2016 (FY2016)

1. Consolidated Earnings Forecasts

No

FY2016

FY2015 (Actual)

e

No

1st half

2nd half

(Forecast)

c

(Forecast)

d

FY2015 (Actual)

e

No

1Q

(Actual)

a

2Q

(Forecast)

b

2nd half

(Forecast)

c

(Forecast)

d

FY2015 (Actual)

e

Net sales

1

137.2

142.8

297.0

577.0

617.5

Operating income

2

1.0

4.0

9.5

14.5

21.0

Ordinary income

Ordinary steel / Special steel

3

3.8

4.7

10.0

18.5

16.1

Ordinary income

Stainless steel

4

(2.0)

(2.0)

(2.5)

(6.5)

3.5

Total

5

1.8

2.7

7.5

12.0

19.6

Profit attributable to owners of parent

6

1.2

1.3

5.5

8.0

16.9

Inventory evaluation

Ordinary steel / Special steel

7

(1.0)

(1.0)

(1.0)

(3.0)

(2.5)

Inventory evaluation

Stainless steel

8

(1.5)

(1.0)

(1.0)

(3.5)

2.5

Total

9

(2.5)

(2.0)

(2.0)

(6.5)

0.0



2. Other Information

（Billions of yen）



（Billions of yen）

No

FY2016

FY2015 (Actual)

e

No

1st half

2nd half

(Forecast)

c

(Forecast)

d

FY2015 (Actual)

e

No

1Q

(Actual)

a

2Q

(Forecast)

b

2nd half

(Forecast)

c

(Forecast)

d

FY2015 (Actual)

e

Crude steel production

(10,000tons)

Ordinary steel / Special steel

1

79

81

160

320

327

Crude steel production

(10,000tons)

Stainless steel

2

15

20

33

68

71

Total

3

94

101

193

388

398

Sales volume

(10,000tons)

Ordinary steel / Special steel

4

74

74

158

306

321

Sales volume

(10,000tons)

Stainless steel

5

12

14

29

55

60

Total

6

86

88

187

361

381

Average sales price of steel products(1,000yen/tons)

7

124

122

122

122

127

Export ratio(monetary basis;%)

8

17

16

17

17

17

Export exchange rate(yen/US$)

9

121

120

120

120

109



3. Breakdown of Differences in Ordinary Income
ⅰ）1Q of FY2016(Actual) vs 2Q of FY2016(Forecast)

（Billions of yen） (Of which stainless steel)

1Q of FY2016(Actual)

1.8

Breakdown

(2.0)

Sales related

Purchasing price

Cost improvement, etc. Subsidiaries, etc. Inventory evaluation

(3.5)

3.5

0.4

0.0

0.5

Volume and composition difference 0.5, Price difference (4.0)

Iron ore 1.5, Coking coal 1.0, Nickel 1.0

Rationalization, etc.

(2.5)→(2.0)　（Of which, stainless steel (1.5)→(1.0))

(1.5)

1.0

0.0

0.0

0.5

Total

0.9

0.0

2Q of FY2016(Forecast)

2.7

(2.0)

（３／３）
ⅱ）FY2015(Actual) vs FY2016(Forecast)

（Billions of yen） (Of which stainless steel)

FY2015(Actual)

19.6

Breakdown

3.5

Sales related

Purchasing price

Cost improvement, etc. Subsidiaries, etc. Inventory evaluation

(22.5)

24.0

0.4 (3.0) (6.5)

Volum e and com position difference (6.0), Price difference (22.5),

Export exchange difference 6.0

Iron ore 21.5, Coking coal 4.0, Nickel 11.0, Oil 7.5, Import exchange difference (22.5)

Rationalization, etc.

Overseas consolidated subsidiaries, etc.

0.0→(6.5)　（Of which, stainless steel 2.5→(3.5))

(6.5)

5.5

0.0 (3.0) (6.0)

Total

(7.6)

(10.0)

FY2016(Forecast)

12.0

(6.5)



4. Cash Dividends
We have decided to pay mid-term cash dividends of ¥15.0 per share
considering stable shareholder returns and
consolidated results and earnings forecasts for this FY2016.
The year-end cash dividends for the FY2016 are undetermined,
which will be announced as soon as they are made available.
(Reference) Interest-Bearing Dept and Net D/E Ratio

31-Mar-14

31-Mar-15

30-Jun-15

Cash on hand and in banks(Billions of yen)

40.8

26.3

22.5

Interest-bearing debt(Billions of yen)

323.5

289.8

286.9

Net D/E ratio

1.36

1.00

1.00

〃　 (based on the credit rating) ※

1.11

0.86

0.86

※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 each at the end of March of 2014,

as well as 50% of 40 billion yen at the end of March of 2015 and June of 2015 entered as capital respectively)

END

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