NIPPON STEEL NISSHIN CO., LTD. (Presentation Materials) （１／３）
02-Feb-17
Nisshin Steel Co., LTD. Ⅰ. Consolidated Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2017 (FY2017)
Consolidated Operating Results
（Billions of yen）
No
FY2017
FY2016
Apr-Dec (Actual) f
1st half
2nd half
Oct-Dec (Actual) d
(Actual) e
Apr-Jun
(Actual) a
Jul-Sep
(Actual) b
(Actual) c
Net sales
1
119.4
132.3
251.7
130.0
381.7
409.9
Operating income
2
0.2
4.0
4.2
1.5
5.7
6.9
Ordinary income
Ordinary steel / Special steel
3
1.2
3.3
4.5
3.3
7.8
12.5
Stainless steel
4
(2.5)
(1.0)
(3.5)
(2.0)
(5.5)
(8.0)
Total
5
(1.3)
2.3
1.0
1.3
2.3
4.5
Profit attributable to owners of parent
6
(1.5)
1.5
0.0
0.2
0.2
0.0
Difference
（ⅰ）
e-f
（ⅱ）
d-b
(28.2)
(2.3)
(1.2)
(2.5)
(4.7)
0.0
2.5
(1.0)
(2.2)
(1.0)
0.2
(1.3)
Inventory evaluation
Ordinary steel / Special steel
7
(1.5)
(1.0)
(2.5)
2.0
(0.5)
(4.0)
Stainless steel
8
(1.5)
(2.0)
(3.5)
0.5
(3.0)
(6.0)
Total
9
(3.0)
(3.0)
(6.0)
2.5
(3.5)
(10.0)
3.5
3.0
3.0
2.5
6.5
5.5
Other Information
No
FY2017
FY2016
Apr-Dec (Actual) f
1st half
2nd half
Oct-Dec (Actual) d
(Actual) e
Apr-Jun
(Actual) a
Jul-Sep
(Actual) b
(Actual) c
Crude steel production
(10,000tons)
Ordinary steel / Special steel
1
68
79
147
76
223
236
Stainless steel
2
18
17
35
14
49
50
Total
3
86
96
182
90
272
286
Sales volume
(10,000tons)
Ordinary steel / Special steel
4
70
79
149
76
225
225
Stainless steel
5
12
15
27
12
39
37
Total
6
82
94
176
88
264
262
Average sales price of steel products(1,000yen/tons)
7
109
106
108
106
107
119
Export ratio(monetary basis;%)
8
15
15
15
15
15
16
Export exchange rate(yen/US$)
9
108
102
105
109
106
122
Difference
（ⅰ）
e-f
（ⅱ）
d-b
(13)
(3)
(1)
(3)
(14)
(6)
0
(3)
2
(3)
2
(6)
(12)
0
(1)
0
(16)
7
Breakdown of Differences in Ordinary Income
（ⅰ）First nine months of FY2016(Actual) vs First nine months of FY2017(Actual)
（Billions of yen） (Of which stainless steel)
First nine months of FY2016(Actual)
4.5
Breakdown
(8.0)
Sales related
(37.5)
Price difference (30.0), Volume and composition difference (2.0),
Export exchange difference (5.5)
(18.5)
Purchasing price
28.0
Iron ore 4.0, Coking coal (1.0), Nickel 7.5, Chromium 2.5, Oil 3.0,
Import exchange difference 11.0
17.0
Cost, etc.
(1.2)
1.0
Subsidiaries, etc.
2.0
0.0
Inventory evaluation
6.5
(10.0)→(3.5) （Of which, stainless steel (6.0)→(3.0))
3.0
Total
(2.2)
2.5
First nine months of FY2017(Actual)
2.3
(5.5)
（ⅱ）2Q of FY2017(Actual) vs 3Q of FY2017(Actual)
（Billions of yen）
(Of which stainless steel)
2Q of FY2017(Actual)
2.3
Breakdown
(1.0)
Sales related
0.5
Price difference 2.0, Volume and composition difference (1.0),
Export exchange difference 0.5
(1.0)
Purchasing price
(6.5)
Iron ore (1.5), Coking coal (3.0), Nickel (1.0), Chromium (1.0)
(2.0)
Cost, etc.
(0.5)
(1.0)
Subsidiaries, etc.
0.0
0.5
Inventory evaluation
5.5
(3.0)→2.5 （Of which, stainless steel (2.0)→0.5)
2.5
Total
(1.0)
(1.0)
3Q of FY2017(Actual)
1.3
(2.0)
（２／３）
vs Mar 31,2016
Interest-bearing debt
Other liabilities
258.4
209.3
(21.0)
(1.3)
Total liabilities
467.7
(22.4)
Common stock and additional paid-in capital
106.3
-
Retained earnings
75.6
(2.5)
Treasury stock, at cost
(0.5)
(0.0)
Accumulated other comprehensive income
22.9
(4.7)
Non-controlling interests
12.4
6.1
Total net assets
216.8
(1.1)
Total liabilities and net assets
684.5
(23.5)
Consolidated Balance Sheet（December 31, 2016）
vs Mar 31,2016 | ||
Cash on hand and in banks | 20.6 | (10.7) |
Accounts receivable | 63.8 | (13.7) |
Inventories | 131.7 | 6.9 |
Other current assets | 20.8 | (4.7) |
Tangible and intangible fixed assets | 283.7 | 4.9 |
Investments in securities, etc. | 163.7 | (6.1) |
Total assets | 684.5 | (23.5) |
Ⅱ．Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2017 (FY2017)
No | FY2017 | FY2016 (Actual) c | |||
(Forecast) a | (Previous forecast) b | ||||
Net sales | 1 | 512.0 | 516.0 | 547.0 | |
Operating income | 2 | 8.5 | 11.0 | 10.0 | |
Ordinary income | Ordinary steel / Special steel | 3 | 9.5 | 9.5 | 17.2 |
Stainless steel | 4 | (4.0) | (2.0) | (11.0) | |
Total | 5 | 5.5 | 7.5 | 6.2 | |
Profit attributable to owners of parent | 6 | 1.0 | 3.0 | (6.6) | |
Consolidated Earnings Forecasts
Inventory evaluation
Ordinary steel / Special steel
7
2.5
0.0
(4.5)
Stainless steel
8
(2.5)
(3.0)
(9.0)
Total
9
0.0
(3.0)
(13.5)
Other Information
（Billions of yen）
Difference
（ⅰ）
a-b
（ⅱ）
a-c
(4.0)
(35.0)
(2.5)
(1.5)
0.0
(7.7)
(2.0)
7.0
(2.0)
(0.7)
(2.0)
7.6
2.5
7.0
0.5
6.5
3.0
13.5
（Billions of yen）
No
FY2017
FY2016
(Actual) c
(Forecast) a
(Previous
forecast) b
Crude steel production
(10,000tons)
Ordinary steel / Special steel
1
294
297
314
Stainless steel
2
66
69
65
Total
3
360
366
379
Sales volume
(10,000tons)
Ordinary steel / Special steel
4
304
302
306
Stainless steel
5
53
56
52
Total
6
357
358
358
Average sales price of steel products(1,000yen/tons)
7
109
110
117
Export ratio(monetary basis;%)
8
15
15
15
Export exchange rate(yen/US$)
9
107
105
120
Difference
（ⅰ）
a-b
（ⅱ）
a-c
(3)
(20)
(3)
1
(6)
(19)
2
(2)
(3)
1
(1)
(1)
(1)
(8)
0
0
2
(13)
（３／３）
Breakdown of Differences in Ordinary Income
（ⅰ）FY2017(Previous forecast) vs FY2017(Forecast)
（Billions of yen）
(Of which stainless steel)
FY2017(Previous forecast)
7.5
Breakdown
(2.0)
Sales related
0.5
Volume and composition difference (1.0), Export exchange difference 1.5
(0.5)
Purchasing price
(4.0)
Iron ore (0.5), Coking coal (1.0), Nickel (0.5), Import exchange difference (1.5)
(1.5)
Cost, etc.
(2.5)
(1.0)
Subsidiaries, etc.
1.0
0.5
Inventory evaluation
3.0
(3.0)→0.0 （Of which, stainless steel (3.0)→(2.5))
0.5
Total
(2.0)
(2.0)
FY2017(Forecast)
5.5
(4.0)
（ⅱ）FY2016(Actual) vs FY2017(Forecast)
（Billions of yen）
(Of which stainless steel)
FY2016(Actual)
6.2
Breakdown
(11.0)
Sales related
(31.5)
Price difference (24.5), Volume and composition difference (1.0),
Export exchange difference (6.0)
(14.5)
Purchasing price
16.0
Iron ore 2.5, Coking coal (10.0), Nickel 5.0, Chromium 2.5, Oil 1.5,
Import exchange difference 16.0
14.0
Cost, etc.
(0.7)
0.0
Subsidiaries, etc.
2.0
1.0
Inventory evaluation
13.5
(13.5)→0.0 （Of which, stainless steel (9.0)→(2.5))
6.5
Total
(0.7)
7.0
FY2017(Forecast)
5.5
(4.0)
Cash Dividends
The year-end cash dividends for the fiscal year ending March 31, 2017 are undetermined, which will be announced as soon as they are made available.
(Reference) Interest-Bearing Dept and Net D/E Ratio
31-Mar-15 | 31-Mar-16 | 31-Dec-16 | |
Cash on hand and in banks(Billions of yen) | 26.3 | 31.4 | 20.6 |
Interest-bearing debt(Billions of yen) | 289.8 | 279.5 | 258.4 |
Net D/E ratio | 1.00 | 1.17 | 1.16 |
〃 (based on the credit rating) ※ | 0.86 | 0.98 | 0.97 |
※Net D/E ratio with 50% of the principal of hybrid loans,
which receive equity credit from Japan Credit Rating Agency, deemed as capital.
(50% of 40 billion yen at the end of March of 2015, March of 2016 and December of 2016 entered as capital respectively)
END
Nisshin Steel Co. Ltd. published this content on 08 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 08 February 2017 01:26:00 UTC.
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