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Annual Report, etc.
Financial Information

March 6, 2003
Nisshin Steel Co., Ltd.

Consolidated and Non-consolidated Projection for Year Ending March 31, 2003

1. Projection

(Billions of yen)

      
Consolidated
Non-consolidated

Net
sales

Income (loss) before
special items

Net loss
Net
sales
Income (loss) before
special items

Net loss

Year ending
Mar. 31, 2003
Current
409.0
4.0
(1.5)
292.5
4.0
0

Previous
(02/11/21)

405.0
3.0
(5.5)
291.5
3.0
(4.0)
(Reference-
Actual)
Year ended
Mar. 31, 2002
394.4
(17.0)
(25.2)
279.5
(18.4)
(23.2)
Six-month
period ended Sep.
30, 2002
199.0
(4.0)
(6.2)
142.4
(3.2)
(4.9)

Note: The estimate above are based on information available at the time of this writing and include uncertain factors.

2. Dividend for Year Ending March 31, 2003

Board resolved to pay a 2 yen/share divident subject to shareholders' approval.
We ask our shareholders for their continued support of the Nisshin Steel Group.

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