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NIPPON STEEL, Apr-Dec (Cumulative 3Q) Net Income Decreases by 18%, Exceeds Full-Year Plan

Thu Feb 6, 2025 3:30 pm JST Earnings

5401 NIPPON STEEL CORPORATION 【IFRS】

Earnings Report

NIPPON STEEL CORPORATION <5401> [TSE Prime] announced its financial results (based on IFRS) after the market closed on February 6th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 17.9% from the same period last year to 362 billion yen. However, the progress rate toward the full-year plan of 310 billion yen is 116.8%, already exceeding the target and also exceeding the five-year average of 78.2%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income/loss for the January to March period (4Q) is expected to turn into a loss of 52 billion yen (compared to a profit of 108 billion yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the consolidated net income decreased to 118 billion yen, a 15.6% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 8.7% in the same period last year to 8.8%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 5,961,682 761,844 748,281 517,144 112.3 86.3 Feb 9, 2023 IFRS
Apr - Dec, 2023 6,641,816 618,683 608,085 440,914 95.8 79.6 Feb 7, 2024 IFRS
Apr - Dec, 2024 6,552,498 566,125 548,013 362,077 73.6 ー Feb 6, 2025 IFRS
YoY -1.3% -8.5% -9.9% -17.9% -23.1%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 4,455,676 354,868 347,930 249,137 54.1 17 May 9, 2024 IFRS
Oct - Mar, 2024 Guidance 4,220,265 ー ー 66,653 12.8 16 Nov 7, 2024 IFRS
YoY -5.3% － － -73.2% -76.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 7,975,586 883,646 866,849 694,016 150.7 36 May 10, 2023 IFRS
Mar, 2024 8,868,097 778,662 763,972 549,372 119.3 32 May 9, 2024 IFRS
Mar, 2025 Guidance 8,600,000 ー ー 310,000 59.3 32 Nov 7, 2024 IFRS
YoY -3.0% － － -43.6% -50.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 2,229,395 194,889 192,043 140,679 30.6 8.7 Feb 7, 2024 IFRS
Jan - Mar, 2024 2,226,281 159,979 155,887 108,458 23.6 7.2 May 9, 2024 IFRS
Apr - Jun, 2024 2,191,509 236,977 231,549 157,559 33.9 10.8 Aug 1, 2024 IFRS
Jul - Sep, 2024 2,188,226 138,776 132,705 85,788 17.9 6.3 Nov 7, 2024 IFRS
Oct - Dec, 2024 2,172,763 190,372 183,759 118,730 24.1 8.8 Feb 6, 2025 IFRS
YoY -2.5% -2.3% -4.3% -15.6% -21.0%

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