Nisshin Steel : Consolidated Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2017

February 2, 2017

Company name: Nisshin Steel Co., Ltd. Listing: Tokyo Stock Exchange Securities code: 5413

URL: http://www.nisshin-steel.co.jp/

Representative: Toshinori Miki, Representative Director and President & CEO

Inquiries: Nobuyuki Sakaki, General Manager, General Administration Department TEL: +81-3-3216-5566 (from overseas)

Scheduled date to file quarterly securities report: February 9, 2017 Scheduled date to commence dividend payments: - Preparation of supplementary material on quarterly earnings: Yes

Holding of quarterly earnings performance review: Yes (for institutional investors and analysts)

(Rounded down to the nearest millions of yen)

1. Consolidated performance for the first Nine months of the fiscal year ending March 31, 2017 (from April 1, 2016 to December 31, 2016)
2. Consolidated operating results (Percentages indicate year-on-year changes.)

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent
   First nine months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   December 31, 2016	381,708	(6.9)	5,784	(16.5)	2,398	(47.3)	231	-
   December31, 2015	409,920	(10.8)	6,930	(55.0)	4,552	(73.3)	0	(100.0)

   (Note) Comprehensive income

   For the first nine months ended December 31, 2016:(5,960) million yen [-%] For the first nine months ended December 31, 2015:(4,572) million yen [-%]

   Net income per share	Diluted net income per share
   First nine months ended	Yen	Yen
   December 31, 2016	2.11	-
   December 31, 2015	0.00	-

3. Consolidated financial position

4. Total assets	Net assets	Equity ratio
   As of	Millions of yen	Millions of yen	%
   December 31, 2016	684,597	216,847	29.9
   March 31, 2016	708,167	217,978	29.9

   (Reference) Equity (= Shareholders' equity and accumulated other comprehensive income) As of December 31, 2016 204,412 million yen

   As of March 31, 2016 211,694 million yen

5. Cash dividends

   Dividends per share
   First quarter- end	Second quarter- end	Third quarter- end	Fiscal year- end	Total
   Fiscal year ended March 31, 2016	Yen	Yen	Yen	Yen	Yen
   	-	15.00	-	25.00	40.00
   Fiscal year ending March 31, 2017	-	0.00	-
   Fiscal year ending March 31, 2017 (Forecast)	-	-

   (Note) Revisions to the forecasts of cash dividends most recently announced: None

   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.

6. Consolidated earnings forecasts for the fiscal year ending March 31, 2017 (from April 1, 2016 to March 31, 2017)

7. (Percentages indicate year-on-year changes.)

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent			Net income per share
   Fiscal year ending March 31, 2017	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   	512,000	(6.4)	8,500	(15.7)	5,500	(11.4)	1,000	-	9.12

   (Note) Revisions to the consolidated earnings forecasts most recently announced: Yes

   * Notes

8. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None

9. Application of special accounting for preparing quarterly consolidated financial statements: Yes

10. Changes in accounting policies, changes in accounting estimates and restatement

11. Changes in accounting policies due to revisions to accounting standards: None

12. Changes in accounting policies due to other reasons: None

13. Changes in accounting estimates: Yes

14. Restatement: None

15. Number of issued shares (common stock)

16. Total number of issued shares at the end of the period (including treasury stock)

    As of December 31, 2016	109,843,923 shares
    As of March 31, 2016	109,843,923 shares

17. Number of shares of treasury stock at the end of the period

    As of December 31, 2016	229,685 shares
    As of March 31, 2016	225,192 shares

18. Average number of shares during the period (cumulative from the beginning of the fiscal year)

19. For the first nine months ended December 31, 2016	109,616,316 shares
    For the first nine months ended December 31, 2015	109,621,953 shares

    • Indication regarding execution of quarterly review procedures

      This quarterly earnings report is exempt from the quarterly review procedures pursuant to the Financial Instruments and Exchange Act. At the time of disclosure of this quarterly earnings report, however, the quarterly review procedures pursuant to the Financial Instruments and Exchange Act are in progress.

    • Proper use of earnings forecasts and other special matters

    The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable and are in no way intended to be commitments or undertakings of the Company. Actual business and other results may differ substantially due to various factors.