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February. 2, 2006
Nisshin Steel Co., Ltd.
Notice on Revisions to
Full-Term Earnings Projections
| Nisshin Steel Co. has revised downward its earnings projections for the March 2006 term (from April 1, 2005 to March 31, 2006) announced on Nov. 7, 2005, as follows, taking into account the company's recent performance. |
|
| 1. |
Revisions to Consolidated Earnings Projections for the March 2006 Term (from April 1, 2005 to March 31, 2006) |
| (million yen) |
|
| |
Sales |
Recurring Profit |
Net Profit |
Previous Projections (A)
(announced on Nov. 7, 2005) |
560,000 |
69,000 |
35,000 |
| Revised Projections (B) |
550,000 |
61,000 |
23,000 |
| B-A |
Δ 10,000 |
Δ 8,000 |
Δ 12,000 |
| Changes (%) |
Δ 1.8 |
Δ 11.6 |
Δ 34.3 |
| (for reference) Results for the March 2005 term |
535,721 |
60,193 |
24,122 |
|
|
| 2. |
Revisions to Unconsolidated Earnings Projections for the March 2006 Term (from April 1, 2005 to March 31, 2006) |
| (million yen) |
|
| |
Sales |
Recurring Profit |
Net Profit |
Previous Projections (A)
(announced on Nov. 7, 2005) |
420,000 |
67,000 |
36,000 |
| Revised Projections (B) |
410,000 |
62,000 |
26,000 |
| B-A |
Δ 10,000 |
Δ 5,000 |
Δ 10,000 |
| Changes (%) |
Δ 2.4 |
Δ 7.5 |
Δ 27.8 |
| (Reference) Results for the March 2005 term |
390,957 |
51,771 |
23,154 |
|
|
| 3. |
Reasons for Revisions |
Nisshin Steel has revised downward its earnings projections for the March 2006 term, as stated above, taking into account certain factors including the high flat rolled steel inventories and the effect of the foreign exchange movements, as well as the operation of the No. 1 blast furnace of Kure Steelworks, which has been unstable since early December 2005.
The operation of the blast furnace is now in the process of smooth recovery. We are resolved to attain stable operation to minimize its adverse effects, and would like to seek the understanding of the parties concerned. |
|
| Earnings projections are based on assumptions and estimates as of the date of the announcement and are therefore subject to changes depending on various factors emerging hereafter. |
|
| END |
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