Flash Report Consolidated Basis
Results for Fiscal 2019
(April 1, 2019-March 31, 2020)＜under Japanese GAAP＞
April 28, 2020
OSAKA STEEL CO., LTD.
Tokyo,1st section
5449
https://www.osaka-seitetu.co.jp
Masaki Iwasaki, PRESIDENT
Kiyofumi Yamashita,
GENERAL MANAGER,
ACCOUNTING & FINANCE DIV.
+81-6-6204-0163

Company name:
Stock listing:Code number:
URL:
Representative:
Contact:
Telephone:(Figures of less than ¥1 million have been omitted.)

1. Consolidated Financial and Operating Results for Fiscal 2019
(April 1, 2019-March 31, 2020)(1)Consolidated Operating Results（Percentage figures represent changes from the same period of the previous fiscal year.）Net sales
Millions of yen
Fiscal 2019

Operating profit

1.1

Millions ofyen
6,746

7,365
7.2
¥ 3,488 million¥ 3,289 million

6,875
6.1%
(18.3)%

Millions of yen％

91,592 (5.2)

7,447

Fiscal 2018
96,569 19.1
(Reference) Comprehensive income
Fiscal 2019
Fiscal 2018
Earnings pershare
Fiscal 2019

Yen
108.73Fiscal 2018

105.93

Ordinary profit％

Profit attributable to(1.9)

owners of parent
Millions of％
yen
4,231
2.6

2.6

4,122％(4.5)

Earnings per
share after full

Return on equity Return on assets Return on sales

dilution
Yen%%%

―

2.9

3.3

8.1

―

2.9

3.5

7.6

(Reference) Equity in profit of unconsolidated subsidiaries and associates:

Fiscal 2019 ¥― million
Fiscal 2018 ¥― million(2)Consolidated Financial Results
Ratio of
Total assets

Fiscal 2019

Net assets

shareholders’ equity

Millions of yen
200,794

Millions of yen
148,394

to total assets％
72.9

202,034

146,074

71.1

Fiscal 2018
(Reference) Shareholders’ equity:

Fiscal 2019 ¥146,437 million
Fiscal 2018 ¥143,682 millionNet assets per shareYen
3,762.46
3,691.65

(3)Consolidated Statements of Cash Flows
Cash flows from

Cash flows from

Cash flows fromoperating activities

investing activities

financing activities

Cash and cash
equivalents

Fiscal 2019

Millions of yen
16,866

Millions of yen(6,077)

Millions of yen
1,074

at end of period
Millions of yen
74,432

Fiscal 2018

3,193

(3,725)2,617

62,620２．Dividends
Dividends per share
End of first

End of second

quarter
Yen
Fiscal 2018―

quarterYen
17.00

Fiscal 2019―

Fiscal 2020(Forecasts)―

Cash dividends
Millions of yen

End of thirdquarter
Yen

End of fiscal year

Total

Yen

Yen―

17.00

34.00

12.50

―

20.00

32.50

―

―

―

―

Ratio of cash dividends

Ratio of cash dividends

to net income％to net assets％

Fiscal 2018

1,323

32.1

0.9

Fiscal 2019

1,264

29.9

0.9

Fiscal 2020(Forecasts)―(Note) The dividend forecasts of end of second quarter and fiscal year for fiscal 2020 are not decided.

３．Consolidated Financial Forecasts for Fiscal 2020(April 1, 2020-March 31, 2021)
The consolidated financial forecast for the fiscal year ending March 31, 2021 has not been determined yet,because it is not possible at this stage to reasonably calculate the impact of the novel coronavirus pandemic.
The Company will disclose a reasonable forecast as soon as it becomes possible.

（Reference）Summary of Non-Consolidated Financial and Operating Results
Non-Consolidated Financial and Operating Results for Fiscal 2019
(April 1, 2019-March 31, 2020)(1)Non-Consolidated Operating Results（Percentage figures represent changes from the same period of the previous fiscal year. ）Net sales

Operating profit

Ordinary profit

Fiscal 2019

58,778 (8.6)

7,039

0.9

Millions ofyen
6,739

Fiscal 2018

64,287 10.4

6,979

6.8

7,329

Millions of yen％

Earnings per share
Yen

Millions of yen％％

ProfitMillions of yen％

(8.1)

(434)

―

11.1

5,067

9.3

Earnings per shareafter full dilution
Yen

Fiscal 2019(11.16)―

Fiscal 2018130.20―(2)Non-Consolidated Financial Results
Ratio ofTotal assets

Net assets

shareholders’ equity

Fiscal 2019

Millions of yen
164,480

Millions of yen
124,731

to total assets％
75.8

Fiscal 2018

165,504

126,539

76.5(Reference) Shareholders’ equity: Fiscal 2019 ¥124,731 million
Fiscal 2018 ¥126,539 million

Net assets per shareYen
3,204.78
3,251.18

1. Consolidated Financial Statements(1) Consolidated Balance Sheets
Millions of yen
March 31, 2020

March 31, 2019
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - tradeFinished goods
Work in process
Raw materials and supplies
Accounts receivable - other
Short-term loans receivable from subsidiaries and associates
Deposits paid
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, netTools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset
Deferred tax assets
Other
Total investments and other assets
Total non-current assets
Total assets

4,172
22,413
16,493360
6,378
12,282
10,00058,447706(2)131,252

4,487
19,39011,049
268
6,265
6,755
10,00069,945
174－
128,335

7,950
21,331
1,799
35,597
1,382
68,061

7,736
21,4281,774
35,5403,794
70,273

163
163

99
99

1,236
187
313
919
2,557
70,781
202,034

864
180
284
856
2,086
72,459200,794

March 31, 2019
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Provision for repairs
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Retirement benefit liability
Provision for business restructuring
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

Millions of yen
March 31, 2020

17,804
12,654
53
4,986
1,487
432
1,841
39,25911,421
14,790
3,149
5,263
1,740
640
2,182
39,18912,765
1,405
1,894
305
330
16,69955,959

9,449
1,217
1,978
236
329
13,211
52,4008,769
10,904
128,134(4,536)143,272

8,769
10,904
131,218(4,536)
146,355

528
154
(21)
(250)
410
2,391
146,074
202,034

300
24
(56)
(186)
81
1,957
148,394
200,794

(2) Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income
Consolidated Statements of Operations

96,56982,091
14,478Millions of yen
Fiscal 201991,59277,025
14,567

3,588
1,091
14
107
2,311
7,113
7,365

3,648
1,160
59
115
2,136
7,119
7,447

153
41
413
―
211
819

176
41
413
299
179
1,110

496
223
78
355
154
1,308
6,875

708
738
78
―
286
1,811
6,746

211
211

―
―

592
592
6,494
2,742
1
2,744
3,750(372)
4,122

―
―
6,746
2,919
(32)
2,886
3,859(372)
4,231

Fiscal 2018
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Transportation costs
Salaries and bonuses
Retirement benefit expenses
Depreciation
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Rental income from non-current assets
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of non-current assets
Taxes and dues
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Reversal of provision for business restructuring
Total extraordinary income
Extraordinary losses
Loss on disaster
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

Consolidated Statements of Comprehensive Income

3,750

Millions of yen
Fiscal 2019
3,859

(253)
58(106)
(158)
(460)
3,289

(227)
(163)
(43)
63(370)
3,488

3,671
(381)

3,903
(414)

Fiscal 2018
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

(3) Consolidated Statements of Changes in Net Assets

Fiscal 2018

Millions of yen
Shareholders' equity
Capital stock

Balance at beginning of current period

Capital surplus

8,769

10,904Retainedearnings

Treasury shares

125,490(4,535)

Total
shareholders'equity
140,629

Changes of items during period
Dividends of surplus(1,479)(1,479)Profit attributable to owners of parent

4,122

4,122

Purchase of treasury shares

(0)

(0)

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period

――

2,643

(0)

2,642

8,769

10,904

128,134(4,536)143,272

Accumulated other comprehensive income
Valuation
Deferred gains Foreign currency Remeasurement
difference ons of definedtranslation
or losses onavailable-for-salebenefit planshedgesadjustment
securities
Balance at beginning of current period

Totalaccumulated
othercomprehensive
incomeNon-controllinginterests

782

108

63(91)

862

2,795

Net changes of items other thanshareholders' equity(253)

46(85)(159)

(451)

(403)

Total changes of items during period(253)

46(85)

(159)

(451)

(403)

Balance at end of current period

528

154

(21)

(250)

410

2,391

Changes of items during period
Dividends of surplus
Profit attributable to owners of parent
Purchase of treasury shares

Total nFiscal 2019

Millions of yen
Shareholders' equity
Capital stock

Balance at beginning of current period

Capital surplus

8,769

10,904Retainedearnings

Treasury shares

128,134(4,536)

Total
shareholders'equity
143,272

Changes of items during period
Dividends of surplus(1,148)(1,148)

Profit attributable to owners of parent

4,231

4,231

Purchase of treasury shares

(0)

(0)

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period

――

3,083

(0)

3,082

8,769

10,904

131,218(4,536)

146,355

Accumulated other comprehensive income
Valuation
Deferred gains Foreign currency Remeasurement
difference ontranslations of definedor losses onavailable-for-saleadjustment
benefit planshedgessecurities
Balance at beginning of current period

Totalaccumulated
othercomprehensive
incomeNon-controllinginterests

528

154

(21)

(250)

410

2,391

Net changes of items other thanshareholders' equity

(227)

(130)

(34)

64(328)(434)

Total changes of items during period

(227)

(130)

(34)

64(328)(434)

Balance at end of current period

300

24(56)

(186)

81

1,957

Changes of items during period
Dividends of surplus
Profit attributable to owners of parent
Purchase of treasury shares

Total n（4）Consolidated Statements of Cash Flows
Millions of yen
Fiscal 2019

Fiscal 2018
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for repairs
Increase (decrease) in provision for loss on dissolution of theemployees' pension fund
Increase (decrease) in provision for business restructuring
Interest and dividend income
Interest expenses
Loss on retirement of non-current assets
Loss (gain) on sales of non-current assets
Loss (gain) on sales of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in accounts receivable - other
Increase (decrease) in trade payables
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Other, net
SubtotalInterest and dividends received
Interest paid
Subsidies received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Proceeds from sales of non-current assets
Purchase of non-current assets
Proceeds from sales of investment securities
Proceeds from redemption of securities
Collection of loans receivable from subsidiaries and affiliates
Loan advances to subsidiaries and associates
Other proceeds
Other payments
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

6,494
4,034
(22)
13

6,746
4,121(2)
207

(70)
(213)
(194)
496
223
(30)
(17)
(2,219)(3,975)
(476)
3,037
251
2(491)
6,843
194
(454)
―
(3,389)
3,193

―
(68)
(217)
708
738
3
2,973
5,541
5,508
(6,299)83
6(633)
19,418
217
(720)
625
(2,675)
16,86635(3,797)71―
10,000(10,000)
0(35)(3,725)

13(6,624)40
500
10,000(10,000)
1(8)(6,077)

4,200
(80)
(0)
(1,479)
(22)
2,617
(64)
2,021
60,59862,620

2,296
(53)
(0)
(1,148)
(20)
1,074
(50)
11,812
62,62074,432