• 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 FY2021

• After due consideration ofthe earnings forecasts for the year and other factors, in accordance with the basic profit distribution policy  described above, Nippon Steelis planning to pay a dividend of 55 yen per share at the end of the first half (representing a consolidated dividend payout ratio of approximately 25%).