NIPPON STEEL NISSHIN CO., LTD. (Presentation Materials) （１／３）
29-Jul-16
Nisshin Steel Co., LTD. Ⅰ. Consolidated Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2017 (FY2017)
Consolidated Operating Results
（Billions of yen）
No
FY2017
FY2016
Difference
1Q
1Q
(Actual)
(Actual)
（ⅰ）
a
b
a-b
Net sales
1
119.4
137.2
(17.8)
Operating income
2
0.2
1.0
(0.8)
Ordinary income
Ordinary steel / Special steel
3
1.2
3.8
(2.6)
Stainless steel
4
(2.5)
(2.0)
(0.5)
Total
5
(1.3)
1.8
(3.1)
Profit attributable to owners of parent
6
(1.5)
1.2
(2.7)
Inventory evaluation
Ordinary steel / Special steel
7
(1.5)
(1.0)
(0.5)
Stainless steel
8
(1.5)
(1.5)
0.0
Total
9
(3.0)
(2.5)
(0.5)
Other Information
No
FY2017
1Q
(Actual) a
FY2016
1Q
(Actual) b
Difference
（ⅰ）
a-b
Crude steel production
(10,000tons)
Ordinary steel / Special steel
1
68
79
(11)
Stainless steel
2
18
15
3
Total
3
86
94
(8)
Sales volume
(10,000tons)
Ordinary steel / Special steel
4
70
74
(4)
Stainless steel
5
12
12
0
Total
6
82
86
(4)
Average sales price of steel products(1,000yen/tons)
7
109
124
(15)
Export ratio(monetary basis;%)
8
15
17
(2)
Export exchange rate(yen/US$)
9
108
121
(13)
Breakdown of Differences in Ordinary Income
（ⅰ）1Q of FY2016(Actual) vs 1Q of FY2017(Actual)
（Billions of yen） (Of which stainless steel)
1Q of FY2016(Actual)
1.8
Breakdown
(2.0)
Sales related
(16.0)
Price difference (12.5), Volume and composition difference (2.0),
Export exchange difference (1.5)
(7.0)
Purchasing price
15.5
Iron ore 3.5, Coking coal 1.5, Oil 1.5, Nickel 4.5,
Import exchange difference 2.0
8.0
Cost, etc.
(1.6)
slower-than-usual restart of operations following a scheduled
outage at Kure Works
(0.5)
Subsidiaries, etc.
(0.5)
(1.0)
Inventory evaluation
(0.5)
(2.5)→(3.0) （Of which, stainless steel (1.5)→(1.5))
0.0
Total
(3.1)
(0.5)
1Q of FY2017(Actual)
(1.3)
(2.5)
（２／３）
vs Mar 31,2016
Interest-bearing debt
Other liabilities
272.0
199.9
(7.4)
(10.7)
Total liabilities
472.0
(18.1)
Common stock and additional paid-in capital
106.3
-
Retained earnings
73.9
(4.2)
Treasury stock, at cost
(0.5)
(0.0)
Accumulated other comprehensive income
19.4
(8.2)
Non-controlling interests
6.5
0.2
Total net assets
205.7
(12.2)
Total liabilities and net assets
677.7
(30.4)
Consolidated Balance Sheet（June 30, 2016）
vs Mar 31,2016 | ||
Cash on hand and in banks | 25.8 | (5.5) |
Accounts receivable | 67.1 | (10.4) |
Inventories | 126.4 | 1.6 |
Other current assets | 19.1 | (6.4) |
Tangible and intangible fixed assets | 277.3 | (1.4) |
Investments in securities, etc. | 161.7 | (8.2) |
Total assets | 677.7 | (30.4) |
Ⅱ．Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2017 (FY2017)
Difference | ||
（ⅰ） a-e | （ⅱ） b-a | （ⅲ） c-d |
(2.0) | 12.0 | (5.0) |
(6.5) | 12.0 | (8.5) |
(3.5) | 7.0 | (6.5) |
(3.5) | 8.5 | (2.0) |
(7.0) | 15.5 | (8.5) |
(6.5) | 14.5 | (7.0) |
Consolidated Earnings Forecasts
No
FY2016
(Forecast)
1st half
a
2nd half
b
c
Net sales
1
252.0
264.0
516.0
Operating income
2
2.5
14.5
17.0
Ordinary income
Ordinary steel / Special steel
3
4.0
11.0
15.0
Stainless steel
4
(6.0)
2.5
(3.5)
Total
5
(2.0)
13.5
11.5
Profit attributable to owners of parent
6
(3.5)
11.0
7.5
FY2016
(Previous forecast)
d
1st half
e
521.0
254.0
25.5
9.0
21.5
7.5
(1.5)
(2.5)
20.0
5.0
14.5
3.0
Inventory evaluation
Ordinary steel / Special steel
7
(1.5)
(1.5)
(3.0)
Stainless steel
8
(5.5)
0.5
(5.0)
Total
9
(7.0)
(1.0)
(8.0)
(5.0)
(3.5)
(2.5)
(2.0)
(7.5)
(5.5)
2.0
0.0
2.0
(3.5)
6.0
(2.5)
(1.5)
6.0
(0.5)
Difference
（ⅰ）
a-e
（ⅱ）
b-a
（ⅲ）
c-d
(12)
12
(10)
1
(1)
3
(11)
11
(7)
0
7
0
1
3
2
1
10
2
(3)
4
(1)
0
0
0
(4)
(1)
(4)
Other Information
No
FY2016
(Forecast)
1st half
a
2nd half
b
c
Crude steel production
(10,000tons)
Ordinary steel / Special steel
1
151
163
314
Stainless steel
2
36
35
71
Total
3
187
198
385
Sales volume
(10,000tons)
Ordinary steel / Special steel
4
150
157
307
Stainless steel
5
28
31
59
Total
6
178
188
366
Average sales price of steel products(1,000yen/tons)
7
107
111
109
Export ratio(monetary basis;%)
8
15
15
15
Export exchange rate(yen/US$)
9
106
105
106
FY2016
(Previous forecast)
d
1st half
e
324
163
68
35
392
198
307
150
57
27
364
177
110
110
15
15
110
110
Breakdown of Differences in Ordinary Income
（ⅰ）1st half of FY2017(Previous forecast) vs 1st half of FY2017(Forecast)
（Billions of yen） (Of which stainless steel)
（Billions of yen）
（Billions of yen）
1st half of FY2017(Previous forecast)
5.0
Breakdown
(2.5)
Sales related
(5.0)
Price difference (2.0), Volume and composition difference (2.0),
Export exchange difference (1.0)
(2.0)
Purchasing price
2.5
Coking coal (0.5), Nickel 1.5, Export exchange difference 3.0
2.0
Cost, etc.
(3.0)
slower-than-usual restart of operations following a scheduled
outage at Kure Works
0.5
Subsidiaries, etc.
0.0
(0.5)
Inventory evaluation
(1.5)
(5.5)→(7.0) （Of which, stainless steel (2.0)→(5.5))
(3.5)
Total
(7.0)
(3.5)
1st half of FY2017(Forecast)
(2.0)
(6.0)
（３／３）
（ⅱ）1st half of FY2017(Forecast) vs 2nd half of FY2017(Forecast)
（Billions of yen） (Of which stainless steel)
1st half of FY2017(Forecast)
(2.0)
Breakdown
(6.0)
Sales related
9.0
Price difference 5.0, Volume and composition difference 4.0
3.0
Purchasing price
(3.5)
Iron ore (2.0), Coking coal (0.5), Nickel (1.5), Oil (1.5),
Import exchange difference 3.0
(1.5)
Cost, etc.
4.0
0.0
Subsidiaries, etc.
0.0
1.0
Inventory evaluation
6.0
7.0→(1.0) （Of which, stainless steel (5.5)→0.5)
6.0
Total
15.5
8.5
2nd half of FY2017(Forecast)
13.5
2.5
（ⅲ）FY2017(Previous forecast) vs FY2017(Forecast)
（Billions of yen） (Of which stainless steel)
FY2017(Previous forecast)
20.0
Breakdown
(1.5)
Sales related
(5.0)
Price difference (1.5), Volume and composition difference (1.0)
Export exchange difference (2.5)
(2.0)
Purchasing price
(1.0)
Iron ore (3.0), Oil (2.0), Zinc (1.5), Nickel 1.5,
Import exchange difference 5.5
3.0
Cost, etc.
(2.0)
slower-than-usual restart of operations following a scheduled
outage at Kure Works
(0.5)
Subsidiaries, etc.
0.0
0.0
Inventory evaluation
(0.5)
(7.5)→(8.0) （Of which, stainless steel (2.5)→(5.0))
(2.5)
Total
(8.5)
(2.0)
FY2017(Forecast)
11.5
(3.5)
Cash Dividends
The 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 | 30-Jun-16 | |
Cash on hand and in banks(Billions of yen) | 26.3 | 31.4 | 25.8 |
Interest-bearing debt(Billions of yen) | 289.8 | 279.5 | 272.0 |
Net D/E ratio | 1.00 | 1.17 | 1.24 |
〃 (based on the credit rating) ※ | 0.86 | 0.98 | 1.03 |
※Net D/E ratio with 50% of the principal of hybrid loans,
which receive equity credit from Japan Credit Rating Agency, deemed as capital. (40 billion yen at the end of March of 2015, March of 2016 and June of 2016 entered as capital respectively)
END
Nisshin Steel Co. Ltd. published this content on 29 July 2016 and is solely responsible for the information contained herein.
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