Dividend Policy

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Consolidated dividend annual payout ratio target: around 30%
Factors to be considered to return the profit to shareholders include:
- capital requirements for investments to raise corporate value,
- our performance forecast,
- consolidated and non-consolidated balance sheets.
The level of the first-half dividend is determined based on consideration of interim performance figures and forecasts for the full fiscal year performance.

Dividend of FY2025

For FY2025, the final year of the medium- to long-term management plan, Nippon Steel plans to pay an annual dividend of 120 yen per share, which will result in a payout ratio of 30% over the five-year period from FY2021 to FY2025, excluding the effects of the one-off loss associated to the U. S. Steel transaction.
Nippon Steel conducted a 5-for-1 stock split effective Oct. 1, 2025. The year-end dividend after the stock split is expected to be 12 yen per share.