Nippon Steel Posted Notable Dip Steel Production During Fiscal 2019

SEATTLE (Scrap Monster): Nippon Steel released data for its April-March business year. The data suggests that consolidated crude steel production by the company totalled 41.84 million tonnes. This is marginally down by 4.3%, compared with the prior fiscal. However, the results are regarded as impressive, in view of a series of headwinds including the Covid-19 pandemic crisis.

The Steelmaking and Steel Fabrication segment recorded revenue of ¥5,257.3 billion, compared to ¥5,454.5 billion in fiscal 2018. The segment reported enhanced productivity and improved cost performance. Also, it continued developing business in new potential steel markets.

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The consolidated earnings were impacted by lower production and shipment volumes. In the fiscal year under review, Nippon Steel recorded consolidated revenue of ¥5,921.5 billion. This is in comparison with ¥6,177.9 billion in fiscal 2018. The consolidated total assets as of March 31, 2020 were ¥7,444.9 billion, down from ¥8,049.5 billion as of March 31, 2019. Meantime, the consolidated total liabilities increased from ¥4,442.1 billion to ¥4,448.3 over the previous fiscal.

The cash flows from operating activities totalled net inflow of ¥494.3 billion during fiscal 2019.