Nippon Steel Corp. · TSE:5401

Nippon Steel — FY2005 Earnings Presentation

47 slides from Nippon Steel's earnings presentation, Apr 28, 2006

  1. Slide 1: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    2006 3 2006 4 28 0 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  2. Slide 2: (CFO)

    1 2006 3 2 2007 3 3 (CFO) 1 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  3. Slide 3: I FY2005 Results

    I 2005 1 2 3 4 5 6 7 8 9 * 2006.3.2 2 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  4. Slide 4: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    05 04 39,063 33,893 5,170 39,000 63 25,913 21,478 4,435 25,700 213 13,150 12,415 735 13,300 150 5,763 4,299 1,464 5,350 413 4,339 3,038 1,301 4,100 239 1,424 1,261 163 1,250 174 5,474 3,714 1,760 5,150 324 3,887 2,478 1,409 3,700 187 1,587 1,236 351 1,450 137 182 19 201 190 8 3,439 2,206 1,233 3,300

  5. Slide 5: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    05 39,063 39,000 63 25,913 25,700 213 13,150 13,300 150 5,763 5,350 413 4,339 4,100 239 1,424 1,250 174 5,474 5,150 324 3,887 3,700 187 1,587 1,450 137 182 190 8 3,439 3,300 139 2,440 2,350 90 999 950 49 4 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  6. Slide 6: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    2,800 350 3,100 845 *1 150*3 400 260 130 (+200 ) (-110 ) (-50 ) 140 *2 35 ( ) *1 ; 04 15 1) 110, 75, 100 2) 50 , 220 05 830 1) 200, 400 2) 180, 150, 80, 120 *2 ; *3 ; 30, 70, 30, 20 5 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  7. Slide 7: 01

    05 04 148 77 42 106 33 3 50 17 42 42 30 30 39 39 182 80 19 201 6 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  8. Slide 8: A B Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    05 04 A B 39,063 5,763 14.8% 33,893 4,299 12.7% + 5,170 + 1,463 39,000 5,350 30,575 5,139 16.8% 26,207 3,769 14.4% + 4,368 + 1,370 30,760 4,780 3,361 95 2.8 % 2,798 66 2.4 % + 563 29 3,200 90 1,040 141 13.6 % 892 85 9.5 % + 148 57 1,050 130 3,730 270 7.2 % 3,311 263 7.9 % + 419 6 3,730 240 1,483 118

  9. Slide 9: D/E ratio

    02 02 03 03 04 04 05 05 18,719 15,612 12,822 12,238 ( 584) D/E D/E (Debt (Debt Equity Equity ratio) ratio) 2.37 1.66 1.08 0.73 ( 0.35) 04 05 06/3 D/E 584 2.22 2.37 1,661 5,474 2,117 1.66 2,014 1,833 471 1,044 337 1.08 501 239 0.73 11,400 840 100 900 8 Copyright (C) 2006 NIPPON STEEL Corporation All

  10. Slide 10: Free Cash Flow

    05 04 03 A 3,929 5,394 2,880 5,656 3,694 736 1,833 1,805 1,835 3,560 106 309 B 2,268 1,749 518 ( ) 2,014 1,892 1,557 Free Cash Flow A+B 1,661 3,644 3,399 300 430 75 1,361 3,214 3,323 ( ) 492 2,951 3,278 ( ) 337 101 99 ( ) 501 162 9 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  11. Slide 11: (06/3E) (05/3E) 06/3E

    05 (06/3E) 04 (05/3E) 06/3E 05/3E 45,427 34,465 38,721 28,199 6, 706 6,266 1 2 2 +3,673 +282 3 1 +1,225 3 +874 -1,458 +1,468 4 +18 4 +3,102 +3,439 2005.6 337 +2,189 484 501 +21 10 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  12. Slide 12: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    11 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  13. Slide 13: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    12 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  14. Slide 14: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    13 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  15. Slide 15: ROS ROA D/E

    05 04 03 ROS / 14.0 (15.0) 11.0 (11.5) 5.9 (6.3) ROA / 12.4 (11.6) 10.1 (9.3) 5.3 (5.1) / 0.86 (0.75) 0.88 (0.76) 0.79 (0.70) / 6.06 (6.40) 5.99 (6.15) 5.41 (5.51) / 36.9 (40.4) 30.7 (36.1) 25.3 (31.9) / 31.3 (37.1) 37.8 (42.3) 53.4 (57.8) D/E / 73 (69) 108 (89) 166 (127) 1999 / 66.7 47.2 44.3 / 3.1

  16. Slide 16: II 2006

    II 2006 1 2 3 4 5 6 15 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  17. Slide 17: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    40,000 19,000 39,063 18,634 937 366 24,500 12,200 25,913 12,454 1,413 254 15,500 6,800 13,150 6,180 2,350 620 4,750 2,250 5,763 3,013 1,013 763 3,700 1,800 4,339 2,363 639 563 1,050 450 1,424 650 374 200 4,600 2,200 5,474 2,944 874 744 3,400 1,700 3,887 2,200 487 500 1,200 500 1,587 744 387 244 2,80

  18. Slide 18: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    , 830 200 ( ) 210 *1 300 350 240 150 #1 *2 *05 06 05 2,530 150 230 2,300 4,600 4,750 4,400 150 *1 ; *2 ; 60 17 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  19. Slide 19: (A) (B) (A

    06 06 (A) 06 (B) (A B) 40,000 19,000 21,000 2,000 24,500 12,200 12,300 100 15,500 6,800 8,700 1,900 4,750 2,250 2,500 250 3,700 1,800 1,900 100 1,050 450 600 150 4,600 2,200 2,400 200 3,400 1,700 1,700 ~ 1,200 500 700 200 2,800 1,350 1,450 100 2,150 1,100 1,050 50 650 250 400 150 18 Copyright (C) 20

  20. Slide 20: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    , 150 80 30 #1 100 150 70 19 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  21. Slide 21: A B IPP Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    (*) 06 05 (*) A B 40,000 4,750 11.9% 39,063 5,763 14.8% 937 1,013 32,200 4,300 13.4% 31,438 5,176 16.5% 762 876 3,400 100 2.9% 3,361 95 2.8% 39 5 900 70 7.8% 1,040 130 12.5% 140 60 3,100 190 6.1% 2,984 193 6.5% 116 3 550 25 4.5% 549 29 5.3% 1 4 1,500 125 8.3% 1,483 118 8.0% 17 7 1,650 60 1,795 18 14

  22. Slide 22: A B Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    06 06 A B 19,000 2,250 11.8% 21,000 2,500 11.9% 2,000 250 15,600 2,100 13.5% 16,600 2,200 13.3% 1,000 100 1,550 20 1.3% 1,850 80 4.3% 300 60 300 20 6.7% 600 50 8.3% 300 30 1,500 70 4.7% 1,600 120 7.5% 100 50 250 10 4.0% 300 15 5.0% 50 5 650 40 6.2% 850 85 10.0% 200 45 850 10 800 50 50 40 13.6 / 21 C

  23. Slide 23: D/E ratio

    03 03 04 04 05 05 06 06 15,612 12,822 12,238 12,200 ( 38) D/E D/E (Debt (Debt Equity Equity ratio) ratio) 1.66 1.08 0.73 0.68 ( 0.05) D/E 2.22 2.37 05 06 07/3 1.66 4,600 2,200 800 1,000 1.08 600 0.73 0.68 22 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  24. Slide 24: III

    III 23 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  25. Slide 25: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    11,271 5,680 5,591 11,289 5,638 5,651 1 3,132 1,581 1,552 3,007 1,465 1,541 3,395 1,708 1,688 3,279 1,608 1,671 <3,120> <1,573> <1,547> <2,988> <1,461> <1,527> 2,959 1,476 1,484 2,951 1,429 1,522 74.3 73.4 75.2 61.6 58.1 64.9 30.9 31.6 30.1 31.6 31.1 32.1 113 109 117 107 109 106 8 3 5 4 1 5 1 24 Cop

  26. Slide 26: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    7,716 3,807 3,909 7,610 3,745 3,865 + 4,778(62%) 4,665(61%) 6,317 3,119 3,198 6,245 3,068 3,177 2,775 1,381 1,394 2,784 1,371 1,413 3,542 1,738 1,804 3,461 1,697 1,764 565 278 287 508 244 264 1,331 645 686 1,313 644 669 1,399 688 711 1,365 677 688 124 64 60 119 62 57 7,182 3,765 3,417 7,070 3,723 3,

  27. Slide 27: (US$/t, CIF (US$/t FOB) (US$/t, FOB)

    2006.4 (US$/t, CIF ) (US$/t, FOB) (US$/t FOB) US$/t 170 t 26 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  28. Slide 28: (US$/t LME

    2006.4 (MWM US$/lb-Mo) (MBM US$/kg-V) (OPEC , US$/ , ) (US$/t LME ) PLATT'S JAPAN 380CST, US$/ 27 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  29. Slide 29: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    623 615 572 573 570 559 567 555 548 555 557 542 531 533 533 537 536 526 520 529 512 503 466(05.8 ) 464 463 458 445 436 429 421 426 412 414 392 398 393 393 376 371 376 377 374 386 384 360 28 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  30. Slide 30: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    03 04 05 06 1,600 1,840 1,850 1,805 2,050 1,833 200 ( 28) 2,700 1,950 1,200 1,340 1,400 1,299 1,650 1,306 250 ( 7) 2,100 1,400 29 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  31. Slide 31: (Gr) 32 344 2002 2005 30 Copyright

    (Gr) 05 04 03 02 251 7 258 259 258 69 2 71 73 86 320 9 329 332 344 2002 2005 30 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  32. Slide 32: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    31 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  33. Slide 33: 06/3E 05.3E Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    06/3E 6,806,981 483,054 ( 05.3E ) ( 1.8%) ( 0.7%) ( 2.6%) ( 2.2%) ( 1.5%) 32 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  34. Slide 34: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    1,156 1,000 1,242 863 923 1,136 1,999 1,686 856 1,730 1,144 1,087 692 648 748 768 731 692 * 18 16 3,847 3,334 2,864 3,361 2,798 2,931 1,311 286 358 819 482 608 (34%) (9%) (12%) (24%) (17%) (21%) 2004 33 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  35. Slide 35: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    34 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  36. Slide 36: ROS ROA D/E

    02 03 04 05 27,493 29,258 33,893 39,063 ( ) 29,000 688 1,728 3,714 5,474 (264%) 2,500 ROS 2.5 5.9 11.0 14.0% (177%) 9 ROA 2.6 5.3 10.1 12.4% (153%) 9 7,894 9,385 11,884 16,778 (422%) 10,000 18,719 15,612 12,822 12,238 (238%) 16,000 D/E 2.37 1.66 1.08 0.73 (213%) 1.6 37,571 37,059 38,721 45,427 ( ) 3

  37. Slide 37: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    36 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  38. Slide 38: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    37 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  39. Slide 39: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    / / / 2005 1 38 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  40. Slide 40: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    / / / 2005 1 39 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  41. Slide 41: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    / / / 2005 1 40 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  42. Slide 42: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    / / / 2005 1 41 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  43. Slide 43: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    2006 2 14 2006 3 13 42 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  44. Slide 44: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    2006 3 2 43 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  45. Slide 45: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    2006 3 29 44 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  46. Slide 46: Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

    “ ” 45 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

  47. Slide 47: : http://www.nsc.co.jp/

    : http://www.nsc.co.jp/ 46 Copyright (C) 2006 NIPPON STEEL Corporation All Rights Reserved.

Nippon Steel — FY2005 Earnings Presentation on 6ix