Nippon Steel Corp. · TSE:5401

Nippon Steel — FY2009 Earnings Presentation

48 slides from Nippon Steel's earnings presentation, Apr 28, 2010

  1. Slide 1: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 3 2010 4 28 1 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  2. Slide 2: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 3 2011 3 2 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  3. Slide 3: 1. Results for FY2009

    1. 2010 3 3 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  4. Slide 4: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 3 2008 2009 47,698 34,877 3,361 1,550 118 -115 2008 2008 2009 2009 26,021 21,676 15,733 19,143 2,622 739 -869 987 1,616 -65 -718 603 4 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  5. Slide 5: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2008 2009 2008 10,550 / 2,861 2009 9,645 / 2,750 +50.6% 5 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  6. Slide 6: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 3 09 08 08 09 +18 34,877 47,698 -12, 821 35,000 -123 -10 320 3,429 -3,109 300 +20 #2 -80 +30 118 3,361 -3,243 100 +18 +40 -949 2,036 -2,985 + 30 +30 -115 1,550 -1,665 -150 +35 +10 -10 <-1.8> <24.6> <-26.4> <-2.4> <+0.6> 770 4,000 3,361 C/O 1,500 2,070 530 C/O 1,800 COG 200 -210 ( -180 #3 190 3,

  7. Slide 7: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 3 19,143 15,733 +3,410 1,034 -714 +1,748 987 -869 +1,856 350 -1,299 +1,649 603 -718 +1,321 < 9.6> <-11.4> <21.0> 2,000 +300 600 400 #3 120 1,870 C/O 1,800 +170 1,590 #2 80 #3 70 987 1,000 1,000 -500 +30 -360 -190 +1,100 -150 -70 1,147 1,562 +415 0 -1,000 -869 9 09 09 09 7 Copyright (C) 2010 NIP

  8. Slide 8: 3Q 4Q 4Q

    2010 3 3Q 4Q 4Q 3Q 10,024 9,118 +906 636 397 +239 554 433 +121 218 131 +87 343 259 +84 < 5.5> <4.1> <+1.4> 1,000 290 100 310 300 40 50 +30 870 100 #2 80 #3 120 760 802 +10 130 130 720 +40 554 -80 500 433 0 09 3Q 09 4Q 8 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  9. Slide 9: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 3 19,143 320 -714 1,034 15,636 -205 -932 726 4,182 561 239 322 1,771 316 119 197 362 29 29 -0 928 104 53 51 296 4 -2 7 823 107 40 66 9 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  10. Slide 10: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    09 08 3,319 -547 3,866 316 +70 246 800 +99 701 29 -10 39 1,794 -327 2,121 104 +96 8 587 -12 599 4 +27 -23 1,522 -93 1,615 107 -7 114 8,024 -880 8,904 561 +176 385 10 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  11. Slide 11: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    : 702 687 565 561 385 11 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  12. Slide 12: Garphyttan LATINUSA Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 4 28 09 08 ( 2010 328 1,265 637 2010/4/28 208 76 255 [ ] 5449 62% 120 42 73 366 349 2010/4/28 0 5 [ ] 5657 66% -1 -0 2009 6 3,036 1,977 Garphyttan 2010/4/28 -343 19 [ ] 80% -214 10 35.9% 66.4% 13,208 9,196 2010/4/27 130 78 2009 12 [ ] 9810 34% 74 52 LATINUSA 1,629 (1,650) 35 2010/5/11 136 (135

  13. Slide 13: FCF CF CF

    (2009/03 →2010/03 ) 2009/3 2010/3 2009/3 2010/3 2009 CF CF 4,376 50,023 50,023 CF 4,128 48,706 48,706 FCF 248 -2,384 -291 16,421 - 139 -705 18,805 - 1,668 09/03E 10/3E 26,667 14,542 13,837 26,958 09/03E 10/3E +3,701 D/E 0.87 → +585 0.75 +1,608 -174 33,602 29,901 +2,847 +1,357 21,748 23,356 226 1,583

  14. Slide 14: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2003 2004 2005 2006 2007 2008 2009 ( ) 1,600 1,850 2,050 2,700 3,100 3,000 3,300 (1,840) (1,805) (1,833) (1,925) (2,440) (2,737) (2,840) 1,200 1,400 1,650 2,000 2,300 2,200 2,700 (1,340) (1,299) (1,306) (1,342) (1,749) (1,963) (2,136) 4,000 4,000 3,500 09 5 8 460 3,500 09 8 200 3,000 10 3 100 600 3,

  15. Slide 15: 2.

    2. 15 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  16. Slide 16: 2004 1970 19.5 17.6 18.4 < 56.33 > < 54.28 > < 51.07 >

    1 50 2004 1970 20 11 10 19.5 9 17.6 18.4 < 56.33 > < 54.28 > < 51.07 > 6 5 15.3 24.4 < 24.61 > < 32.73 > 1.5 1.5 < EPS 6.15 > < -1.83 > < 25.15 > < 27.96 > < 25.69 > [DE 1.66] [1.08] [0.73] [0.64] [0.62] [0.87] [0.75] 16 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  17. Slide 17: 3. FY2010 outlook

    3. 2011 3 17 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  18. Slide 18: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 22 2010 22 18 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  19. Slide 19: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2010 22 20% 19 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  20. Slide 20: 1973 /FY 65% 1990FY 2007FY 2008FY 1998FY 2009FY 59 33 20 Copyright

    1973 /FY 65% 1990FY 94 2007FY 79 2008FY 69 1998FY 69 2009FY 59 33 20 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  21. Slide 21: World steel demand

    2007 08 09 10 11 13.2 13.0 11.2 12.4 13.1 WSA 10 4 09 11 2002 07 +5~7%/ 13.2 11 13.0 10 13.1 12.4 11.2 8.5 +1%/ 4.4 4.5 5.9 7 +5%/ 5.8 4.5 5.4 GDP 2001-2007 1.9X OECD 1.1X 1 1 / 30 / 64 67 70 73 76 79 82 85 88 91 94 97 00 03 06 09 11 : world steel association 21 Copyright (C) 2010 NIPPON STEEL Corpo

  22. Slide 22: CIS

    6 5 LP POSCO 5 CIS 22 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  23. Slide 23: Economic growth forecasts

    2010 4 21 IMF 2010 2011 2003 2004 2005 2006 2007 2008 2009 (2010.1.26) 3.6 4.9 4.4 5.1 5.2 3.0 -0.6 3.9 4.2 4.3 1.9 3.2 2.6 3.0 2.7 0.5 -3.2 2.1 2.3 2.4 2.5 3.6 3.1 2.8 2.1 0.4 -2.4 2.7 3.1 2.6 0.8 2.1 1.6 2.8 2.7 0.6 -4.1 1.0 1.0 1.5 1.4 2.7 1.9 2.4 2.3 -1.2 -5.2 1.7 1.9 2.0 6.3 7.5 7.1 7.9 8.3 6.1

  24. Slide 24: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    24 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  25. Slide 25: No.1 Copyright

    2010 1 28 No.1 25 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  26. Slide 26: POSCO Arcelor Mittal TATA Steel

    Arcelor Mittal POSCO 5% 4,000 TATA Steel USIMINAS 27.5% 9.4% 3.4% 10% 9.2% 61% 15% 51% 10% 5% 20% 15% 8% 10% 20% 26 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  27. Slide 27: BNA 38%

    JV 600 250 Arcelor Mittal / 40% I/N Tek 50% I/N Kote [ 170 /CAPL120 ] BNA 38% [CG50 /EG45 ] [ 176 /CAPL95 /CG80 ] 3CGL [45 ] 2010 2 SUS 45% UNIGAL 30% [ 100 ] [CG 48 ] 2CGL [55 ] 2011 TATA JV 49% [60 ] 2012 : 27 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  28. Slide 28: Garphyttan NSP SAFAL STEEL

    Garphyttan 100 NSP 61 < > PATIN < > 25 NBC China < > 42 SAFAL STEEL 7 STP 16 LATINUSA 35 SNP 60 NBC Thailand 42 POSCO Vietnam 15 Nippon EGalv Steel 10 PEB STEEL 12 YKGI 10 28 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  29. Slide 29: 5 +40 (NST) 5 +40 (NST) Suzuki Garphyttan

    5 60 10 61 42 38 5 +40 (NST) 5 +40 (NST) 6 5 16 Suzuki Garphyttan 100 71 100 100 51% 81 100 51% 83 25 100 5 20 100 33 15 29 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  30. Slide 30: USIMINAS

    2010 1 28 4000 27.5 4000 4000 USIMINAS 5,000 6,000 ( ) No.1 30 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  31. Slide 31: Kg 100K :US$

    Kg *2008 100K < > < > 13 1.3 10 1.0 :US$ 31 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  32. Slide 32: IOC Elkview 2.5% 4,500 miles

    IOC 48 25 100 85 Elkview 2.5% * *NAMISA 4,500 miles 14 MMTC GOA NAMISA 6.48% Venezuela CVG 4,000 miles J.Mendes 100%(USIMINAS) 12 NIBRASCO 25.4% Yandi BMA,Peabody etc Vale Carajas MBR 2.4% Kumba Robe River 10.5% Hail Creek 8.0% Casa de Pedra Beasley River 28.2% Moranbah North 5.0% Vale Itabira Newma

  33. Slide 33: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    33 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  34. Slide 34: 1Q 2Q 3Q

    08 09 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 3,106 3,045 2,640 1,760 10,550 1,909 2,424 2,661 2,651 9,645 1 804 804 747 495 2,849 484 635 770 768 2,657 916 906 797 504 3,124 537 738 872 845 2,992 <830> <826> <737> <467> <2,861> <482> <673> <810> <785> <2,750> 808 829 712 471 2,820 473 674 760 802 2,709 92.0 108.2

  35. Slide 35: 1Q 2Q 3Q

    08 09 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1,906 1,892 1,663 1,427 6,888 1,421 1,501 1,530 1,463 5,915 65.4% 63.1% 59.0% 56.3% 61.3% 61.4% 64.3% 66.5% 68.2% 65.2% 1,558 1,574 1,448 1,184 5,764 1,138 1,198 1,231 1,172 4,739 624 662 649 590 2,525 503 501 493 436 1,933 934 912 799 594 3,239 635 697 738 736 2,806 15

  36. Slide 36: 1Q 2Q 3Q

    08 09 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 28 28 25 22 103 19 18 20 20 77 1,523 1,578 1,428 1,408 5,937 971 967 1,011 1,006 3,955 288 292 260 161 1,001 171 214 247 256 888 171 173 149 67 560 76 101 117 116 410 216 198 193 98 705 152 197 227 211 787 22 22 16 6 66 4 4 8 10 26 123 129 103 68 423 35 36 43 48 162 47

  37. Slide 37: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    98 99 00 01 02 03 04 05 06 07 08 09 9,098 9,800 10,690 10,206 10,979 11,100 11,290 11,272 11,774 12,151 10,550 9,645 +50.6% FY10 1Q 2,320 2,562 2,784 2,614 2,990 3,015 2,988 3,120 3,160 3,311 2,861 2,750 37 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  38. Slide 38: Crude steel production by country

    / 08 09 2009 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1-12 11,605 9,879 8,780 8,441 8,679 8,470 9,214 8,899 9,591 9,967 10,390 10,650 10,882 11,341 10,708 10,697 121,972 5.9% 13.9% 20.1% 24.3% 23.1% 21.4% 22.9% 23.6% 20.6% 16.2% 11.0% 5.5% 0.8% 14.8% 22.0% 26.7 6.7% 1,032 1,010 882 748 638 548 574 573 64

  39. Slide 39: Iron ore and coal prices

    US$/dmt US$/wmt 09 +55 $200 Rio Tinto 08 33 $60 2010 4-6 39 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  40. Slide 40: (US$/bbl US$/MT) US$/

    (US$/bbl US$/MT) US$/ / 540 480 82.0 42.3 4 4 40 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  41. Slide 41: US /WMT, 170 t US$/T,CIF

    US /WMT, 170 t US$/T,CIF 550 25.2 9.9 4 4 41 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  42. Slide 42: H Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    H 42 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  43. Slide 43: H Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    H 43 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  44. Slide 44: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    44 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  45. Slide 45: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    45 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  46. Slide 46: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    60 55.9 50 40.0 40 36.0 34.8 35.1 30 25.9 23.9 21.5 21.3 22.0 23.8 20 18.3 18.3 20.2 18.2 17.2 14.4 9.5 10 7.4 7.4 2.4 0.8 0 89.3E 90.3E 91.3E 92.3E 93.3E 94.3E 95.3E 96.3E 97.3E 98.3E 99.3E 00.3E 01.3E 02.3E 03.3E 04.3E 05.3E 06.3E 07.3E 08.3E 09.3E 10.3E 46 Copyright (C) 2010 NIPPON STEEL Corporat

  47. Slide 47: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    2006 4 2006/04/01 =1.0 07/7/23 958 07/09/28 827 2010/04/27 08/03/31 347 505 11,213 08/09/30 06/04/01 387 455 17,333 17,963 09/09/30 10/03/31 09/03/31 328 367 16,127 263 12,526 10,129 11,090 11,260 8,110 47 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

  48. Slide 48: Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

    48 Copyright (C) 2010 NIPPON STEEL Corporation All Rights Reserved.

Nippon Steel — FY2009 Earnings Presentation on 6ix