Nippon Steel & Sumitomo Metal Corporation Announces Consolidated Earnings Results for the Nine Months Ended December 31, 2014; Provides Year End Dividend Guidance for the Fiscal Year Ending March 31, 2015; Revises Consolidated Earnings Guidance for the Full Year Ending March 31, 2015
The company provided dividend guidance for the fiscal year ending March 31, 2015. For the fiscal year ending March 31, 2015, the company expects to pay year end dividend of JPY 3.00 per share same as previous year.
The company revised consolidated earnings guidance for the full year ending March 31, 2015. For the full year ending March 31, 2015, the company expects to report net sales of JPY 5,650 billion and net income of JPY 180 billion or JPY 20 net income per share. For the full-year, ordinary profit is expected to be JPY 410 billion, up JPY 10 billion from the previously-announced forecast of JPY 400 billion. Factors expected to make a positive contribution are a steady response to recovering steel demand from the impact of the consumption tax hike and further cost improvement. The net income forecast has been revised down by JPY 70 billion from the previously announced JPY 250 billion to JPY 180 billion, due partly to a loss on business of subsidiaries and affiliates, which was recorded in the third quarter of fiscal 2014. For the year, the company expects to report capital expenditure of approximately JPY 30.5 billion and depreciation approximately JPY 320.0 billion.