August 6, 2020

Company Name
Representative
Stock listing
Code NumberContactTelephone: 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 2020 ending March 31, 2021.

（Attachment）
August 6, 2020
GEOSTR Corporation
Shingo Hayama
Representative Director and President
5282 (Tokyo Stock Exchange, Second Section)
Shinichi Yamatoko,
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 for the first half of fiscal 2020 ending March 31, 2021, which were announced on May 15, 2020.

1. Revision to Earnings Forecasts for First Half of Fiscal 2020 (April 1, 2020 – September 30, 2020)(i) Revision to Consolidated Earnings Forecasts for First Half of Fiscal 2020
(Million yen)
Net sales

OperatingprofitOrdinary
profitProfit attributableto owners of parent

Earnings per
share (Yen)Previous forecasts (A)13,600

100

10050

1.60

Revised forecasts (B)15,100450450300

9.59

Increase/Decrease (B-A)

1,500

350

350

250－

Change (%)

11.0

350.0

350.0

500.0－

13,423953947185

5.92(For reference)
Results for first half of fiscal
2019 ended March 31, 2020(ii) Revision to Non-Consolidated Earnings Forecasts for First Half of Fiscal 2020
(Million yen)
Net sales

Operatingprofit

Ordinary
profitEarnings pershare (Yen)Net profit

Previous forecasts (A)13,400

150

150

100

3.20

Revised forecasts (B)14,900450450300

9.59

Increase/Decrease (B-A)

1,500

300

300

200－

Change (%)

11.2

200.0

200.0

200.0

－

13,061

1,075

1,092

307

9.84

(For reference)
Results for first half of fiscal
2019 ended March 31, 2020

2. Reasons for the Revisions to Earnings Forecasts
In terms of the consolidated operating results for the first half of fiscal 2020, net sales are expected to be 15,100million yen (up 11.0% from the previous forecasts), due to the expedited acceptance of large-scale projects.
With regard to profit and loss, operating profit and ordinary profit are both expected to be 450 million yen (up350.0% from the previous forecasts), and profit attributable to owners of parent for the first half of fiscal 2020 is
expected to be 300 million yen (up 500.0% from the previous forecasts), mainly due to thorough cost reduction inaddition to an improvement in gross profit from increased revenue.
As for the non-consolidated operating results for the first half of fiscal 2020, net sales are expected to be 14,900
million yen (up 11.2% from the previous forecasts), operating profit and ordinary profit are both expected to be 450
million yen (up 200.0% from the previous forecasts), and net profit for the first half of fiscal 2020 is expected to be
300 million yen (up 200.0% from the previous forecasts), due to the same reasons as those for the revision to theconsolidated 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.