March 27, 2020

Company Name
Representative
Stock listing
Code NumberContact
Telephone: Nippon Steel Corporation: Eiji Hashimoto
Representative Director and President: First Section of Tokyo Stock Exchange, and Nagoya,Fukuoka and Sapporo Stock Exchanges: 5401: Public Relations Center, General Administration Div.
: +81-3-6867-2135, 2146, 2977, 3419

Announcement of Revision to Subsidiary’s Earnings Forecasts
Today, GEOSTR Corporation, a subsidiary of Nippon Steel Corporation (the “Company”), announced revision
to its earnings forecasts, as per the attachment.
The impact of the revision is immaterial with regard to the Company’s consolidated financial results
for fiscal 2019 ending March 31, 2020.

(Attachment)
March 27, 2020
GEOSTR Corporation
Shingo Hayama
Representative Director and President
5282 (Tokyo Stock Exchange, Second Section)
Yoshitaka Furuhashi, Executive Director,
Finance and Accounting Team,
Business Management Headquarter+81-3-5844-1201

Company Name:
Representative:
Code Number:Contact:
Telephone:

Notice Concerning Revision to Earnings Forecasts
Considering recent trends in performance, GEOSTR Corporation (the “Company”) hereby notifies that it has revised
its earnings forecasts (consolidated and non-consolidated) for the full year of fiscal 2019 ending March 31, 2020,
which were announced on November 8, 2019.

1. Revision to Full-Year Fiscal 2019 Earnings Forecasts (April 1, 2019 – March 31, 2020)(i) Revision to Full-Year Consolidated Earnings Forecasts(Million yen)
Net sales

OperatingprofitOrdinary
profitProfit attributableto owners of parent

Earnings per
share (Yen)Previous forecasts (A)29,000

1,000

1,000

200

6.39

Revised forecasts (B)27,900

1,220

1,220

300

9.59

Increase/Decrease (B-A)(1,100)220220100－(3.8)

22.0

22.0

50.0－34,266

3,504

3,507

2,02264.65

Change (%)(For reference)
Results for fiscal 2018 ended
March 31, 2019(ii) Revision to Full-Year Non-Consolidated Earnings Forecasts(Million yen)
Net sales

Operatingprofit

Ordinary
profitEarnings per
share (Yen)Net profit

Previous forecasts (A)28,100

1,050

1,050

230

7.35

Revised forecasts (B)27,100

1,360

1,360

420

13.42

Increase/Decrease (B-A)(1,000)

310

310

190

－

(3.6)

29.5

29.5

82.6

－

33,134

3,516

3,536

2,044

65.34

Change (%)(For reference)
Results for fiscal 2018 ended
March 31, 2019

2. Reasons for the Revisions to Earnings Forecasts
In terms of the consolidated operating results, net sales are expected to decrease by 1,100 million yen to 27,900
million yen (down 3.8% from the previous forecasts), due to delay in shipment.
With regard to profit and loss, operating profit and ordinary profit are both expected to be 1,220 million yen (up22.0% from the previous forecasts), and profit attributable to owners of parent is expected to be 300 million yen (up50.0% from the previous forecasts), due to thorough cost reduction in addition to an improvement in gross profit due
to such factors as project configuration.
As for the non-consolidated operating results, net sales are expected to be 27,100 million yen (down 3.6% from theprevious forecasts), operating profit and ordinary profit are both expected to be 1,360 million yen (up 29.5% from theprevious forecasts), and net profit is expected to be 420 million yen (up 82.6% from the previous forecasts), due to thesame reasons as those for the revision to the consolidated operating results.

Note: The above forecasts are based on information that was available on the announcement date of this release.
Actual results may differ from the forecasts due to various risks and uncertainties.