• 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 FY2022

• With a view to maintaining a high-level return to shareholders hereafter, and after due consideration of the earnings forecasts for the year and other factors, Nippon Steel plans to distribute a dividend of 70 yen per share at the end of the first half, reaching a record high, the same as Fiscal 2021, as the first half year-end dividend.