Nisshin Steel : Consolidated Financial Results for the Fiscal Year Ended March 31, 2016

d814e6be-42a7-41d2-a436-f8bdd11e9564.pdf Translation Consolidated Financial Results for the Fiscal Year Ended March 31, 2016

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)

April 28, 2016

Scheduled date of ordinary general meeting of shareholders: June 24, 2016 Scheduled date to commence dividend payments: June 3, 2016 Scheduled date to submit Annual Securities Report: June 24, 2016 Preparation of supplementary materials on financial results: Yes

Holding of financial results briefing: Yes (for institutional investors and analysts)

(Rounded down to the nearest millions of yen)

1. Consolidated performance for the fiscal year ended March 31, 2016 (from April 1, 2015 to March 31, 2016)
2. Consolidated operating results (Percentages indicate year-on-year changes.)

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent
   Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   March 31, 2016	547,026	(11.4)	10,087	(52.1)	6,206	(68.5)	(6,613)	‐
   March 31, 2015	617,525	7.1	21,055	27.2	19,697	(0.1)	16,947	(4.6)

   (Note) Comprehensive income

   For the fiscal year ended March 31, 2016: (48,314) million yen [-%] For the fiscal year ended March 31, 2015: 55,676 million yen [75.9%]

   Net income per share	Diluted net income per share	ROE	ROA	ROS
   Fiscal year ended	Yen	Yen	%	%	%
   March 31, 2016	(60.33)	-	(2.8)	0.8	1.8
   March 31, 2015	160.51	-	7.2	2.6	3.4

   (Reference) Equity in earnings of unconsolidated subsidiaries and affiliates

   For the fiscal year ended March 31, 2016: (1,666) million yen For the fiscal year ended March 31, 2015: 3,195 million yen

3. Consolidated financial position

   Total assets	Net assets	Equity ratio	Net assets per share
   As of	Millions of yen	Millions of yen	%	Yen
   March 31, 2016	708,167	217,978	29.9	1,931.19
   March 31, 2015	770,591	271,997	34.1	2,398.36

   (Reference) Equity (= Shareholders' equity and accumulated other comprehensive income) As of March 31, 2016 211,694 million yen

   As of March 31, 2015 262,918 million yen

4. Consolidated cash flows

5. Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of year
   Fiscal year ended March 31, 2016 March 31, 2015	Millions of yen 50,532 39,303	Millions of yen (28,281) (29,367)	Millions of yen (16,579) (26,078)	Millions of yen 31,344 26,187

6. Cash dividends

   Dividends per share					Total cash dividends (Total)	Dividend payout ratio (Consolidated)	Ratio of dividends to net assets (Consolidated)
   First quarter- end	Second quarter- end	Third quarter- end	Fiscal year- end	Total
   Fiscal year ended March 31, 2015	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
   	-	0.00	-	40.00	40.00	4,391	24.9	1.8
   Fiscal year ended March 31, 2016	-	15.00	-	25.00	40.00	4,391	24.9	1.8
   Fiscal year ending March 31, 2017 (Forecast)	-	-	-	-	-	-

   (Notes) Cash dividends for the fiscal year ending March 31, 2017 are undecided at present. The figures will be announced as soon as it is possible to disclose dividend forecast.

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

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

   Net sales		Operating income		Ordinary income		Profit attributable to owners of parent		Net income per share
   First six months ending September 30, 2016	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   	254,000	(8.2)	9,000	42.0	5,000	(8.3)	3,000	49.5	27.37
   Fiscal year ending March 31, 2017	521,000	(4.8)	25,500	(152.8)	20,000	(222.2)	14,500	-	132.28

   * Notes

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

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

11. Changes in accounting policies due to revisions to accounting standards: Yes

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

13. Changes in accounting estimates: None

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 March 31, 2016	109,843,923 shares
    As of March 31, 2015	109,843,923 shares

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

    As of March 31, 2016	225,192 shares
    As of March 31, 2015	219,728 shares

18. Average number of shares during the period

19. For the fiscal year ended March 31, 2016	109,621,245 shares
    For the fiscal year ended March 31, 2015	105,585,467 shares

    (Reference) Overview of non-consolidated performance

    Non-consolidated performance for the fiscal year ended March 31, 2016 (from April 1, 2015 to March 31, 2016)
20. Non-consolidated operating results (Percentages indicate year-on-year changes.)

    Net sales		Operating income		Ordinary income		Net income
    Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
    March 31, 2016	418,393	(13.2)	5,373	(63.2)	17,441	55.9	5,886	-
    March 31, 2015	482,194	-	14,615	-	11,190	-	(5,264)	-

    Net income per share	Diluted net income per share
    Fiscal year ended	Yen	Yen
    March 31, 2016	53.62	-
    March 31, 2015	(49.78)	-

21. Non-consolidated financial position

Total assets	Net assets	Equity ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
March 31, 2016	603,278	164,527	27.3	1,498.70
March 31, 2015	630,344	174,702	27.7	1,591.30

(Reference) Equity

As of March 31, 2016 164,527 million yen

As of March 31, 2015 174,702 million yen

The Company was founded in October, 2012 as a holding company. As it merged consolidated subsidiaries - Nisshin Steel Co., Ltd. and Nippon Metal Industry Co., Ltd. - on April 1, 2014 and became an operating holding company, non-consolidated performance for the FY ended March 2015 was changed substantially from the previous period and continuity was lost. In light of this break, year-on-year changes for the said FY have been omitted.

• Indication regarding execution of audit procedures

  At the time of disclosure of this earnings report, the audit procedures for financial statements in accordance with 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.