5401
NIPPON STEEL CORPORATION
日本製鉄株式会社
Iron & Steel
Nippon Steel Corporation engages in the steelmaking and steel fabrication, engineering, chemicals and materials, and system solutions businesses in Japan and internationally. The company's Steelmaking and Steel Fabrication segment engages in the manufacture and sale of steel products. Its Engineering and Construction segment engages in the design, manufacture, sale, construction, and supervision of various plants and facilities, energy pipelines, water facilities, industrial machinery and equipment, buildings, building materials and equipment, steel structures, etc.; operation, management, and maintenance of plants and facilities, etc.; waste treatment and recycling business; and electricity, gas, heat, and other supply businesses. The company's Chemicals and Materials segment engages in the manufacture and sale of coal-based chemical products, petrochemicals, electronic materials, and materials and components for semiconductors and electronic parts; carbon fiber and composite products; and products that utilize technologies for metal processing. Its System Solutions segment offers computer system engineering and consulting; and IT-enabled outsourcing services and other services. The company also provides steel plates, sheets, and slags; structural steels; pipes and tubes; railway, automotive, and machinery parts; titanium; and stainless steel and electrical steel sheet products for use in various applications, including automotive, construction, energy, railways and shipping, and consumer electronics industries. The company was formerly known as Nippon Steel & Sumitomo Metal Corporation and changed its name to Nippon Steel Corporation in April 2019. The company was incorporated in 1950 and is headquartered in Tokyo, Japan.
Price
¥567
Market Cap
¥592.3B
Ent. Value
—
Net Cash
est
—
Shares Out.
1.0B
P / E
1.6×
EV / EBIT
—
P / Book
—
P / NCAV
N/M
Div. Yield
28.24%
Financials
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥8,695.5B | ¥8,868.1B | ¥7,975.6B | ¥6,808.9B |
| Cost of Sales | ¥7,323.9B | ¥7,481.3B | ¥6,682.0B | ¥5,587.3B |
| Gross Profit | ¥1,371.7B | ¥1,386.8B | ¥1,293.6B | ¥1,221.6B |
| SG&A | ¥815.8B | ¥730.4B | ¥579.4B | ¥544.7B |
| Operating Income | ¥548.0B | ¥778.7B | ¥883.6B | ¥840.9B |
| Non-Operating Income | ¥20.8B | ¥21.5B | ¥8.1B | ¥1.9B |
| Interest Income | ¥20.8B | ¥21.4B | ¥8.1B | ¥1.9B |
| Non-Operating Expenses | ¥44.4B | ¥36.2B | ¥24.9B | ¥26.2B |
| Interest Expense | ¥38.2B | ¥30.5B | ¥20.9B | ¥21.8B |
| Pre-tax Income | ¥524.4B | ¥764.0B | ¥866.8B | ¥816.6B |
| Net Income (owners) | ¥350.2B | ¥549.4B | ¥694.0B | ¥637.3B |
| Minority Interest | ¥32.7B | ¥38.5B | ¥44.7B | ¥30.2B |
| Comprehensive Income | ¥491.6B | ¥810.8B | ¥926.9B | ¥816.3B |
| EBITDA | ¥933.2B | ¥1,141.7B | ¥1,223.8B | ¥1,171.5B |
| EPS | ¥350.92 | ¥596.59 | ¥753.66 | ¥692.16 |
| Shares Outstanding | 1.05B | 921.3M | 921.2M | 921.2M |
| Shares Issued (total) | 1.07B | 950.5M | 950.3M | 950.3M |
| Treasury Shares | 29.3M | 29.3M | 29.2M | 29.1M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥10,942.5B | ¥10,714.6B | ¥9,567.1B | ¥8,752.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥4,548.5B | ¥4,560.4B | ¥4,070.5B | ¥3,514.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥672.5B | ¥448.9B | ¥670.4B | ¥551.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥6,394.0B | ¥6,154.2B | ¥5,496.6B | ¥5,237.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥3,635.6B | ¥3,380.4B | ¥3,183.6B | ¥3,052.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥71.6B | ¥70.2B | ¥65.1B | ¥61.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥263.2B | ¥177.9B | ¥157.4B | ¥130.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥135.1B | ¥75.9B | ¥136.3B | ¥158.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥5,039.1B | ¥5,358.7B | ¥4,920.7B | ¥4,855.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥2,335.5B | ¥2,581.9B | ¥2,093.8B | ¥2,018.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥2,703.6B | ¥2,776.9B | ¥2,826.9B | ¥2,836.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥137.0B | ¥140.5B | ¥37.7B | ¥39.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥5,903.4B | ¥5,355.9B | ¥4,646.4B | ¥3,897.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥578.5B | ¥398.9B | ¥399.4B | ¥393.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥3,819.9B | ¥3,525.6B | ¥3,079.1B | ¥2,514.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-58.2B | ¥-58.1B | ¥-58.1B | ¥-58.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥473.6B | ¥491.6B | ¥341.2B | ¥196.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥5,383.3B | ¥4,777.7B | ¥4,181.2B | ¥3,466.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥520.1B | ¥578.1B | ¥465.3B | ¥430.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥672.5B | ¥448.9B | ¥670.4B | ¥551.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥-490.6B | ¥-798.4B | ¥-850.2B | ¥-1,340.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥-469 | ¥-867 | ¥-923 | ¥-1,455 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥5,149 | ¥5,186 | ¥4,539 | ¥3,763 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥978.6B | ¥1,010.2B | ¥661.3B | ¥615.6B |
| D&A | ¥385.2B | ¥363.0B | ¥340.2B | ¥330.6B |
| Investing CF | ¥-462.4B | ¥-710.7B | ¥-366.6B | ¥-378.9B |
| Purchase Investments | ¥-6.0B | ¥-7.5B | ¥-7.0B | ¥-9.3B |
| Financing CF | ¥-313.3B | ¥-543.9B | ¥-197.7B | ¥-61.3B |
| Free Cash Flow | ¥978.6B | ¥1,010.2B | ¥661.3B | ¥615.6B |
| Net Change in Cash | ¥223.6B | ¥-221.5B | ¥119.4B | ¥191.6B |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| ROE | 6.2% | 11.0% | 16.2% | 16.4% |
| ROA | 3.2% | 5.4% | 7.6% | 7.3% |
| EPS | ¥350.92 | ¥596.59 | ¥753.66 | ¥692.16 |
| DPS | ¥160.00 | ¥160.00 | ¥180.00 | ¥160.00 |
| FCF/Share | ¥936 | ¥1,096 | ¥718 | ¥668 |
| NCAV/Share | ¥-469 | ¥-867 | ¥-923 | ¥-1,455 |
| Payout Ratio | 45.6% | 26.8% | 23.9% | 23.1% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 22
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行㈱(信託口)
|
1,545,044 | 14.80% |
| 2 |
Custody Bank of Japan, Ltd. (Trust Account)
㈱日本カストディ銀行(信託口)
|
554,139 | 5.30% |
| 3 |
State Street Bank and Trust Company
STATE STREET BANK WEST CLIENT - TREATY 505234(常任代理人 ㈱みずほ銀行決済営業部)
|
196,593 | 1.90% |
| 4 | 日本生命保険(相)(常任代理人 日本マスタートラスト信託銀行㈱) | 191,791 | 1.80% |
| 5 | KOREA SECURITIES DEPOSITORY-SAMSUNG(常任代理人 シティバンク、エヌ・エイ東京支店) | 157,045 | 1.50% |
| 6 | 明治安田生命保険(相)(常任代理人 ㈱日本カストディ銀行) | 137,127 | 1.30% |
| 7 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 ㈱みずほ銀行決済営業部)
|
136,840 | 1.30% |
| 8 | 日本製鉄グループ従業員持株会 | 130,382 | 1.20% |
| 9 |
JPMorgan Chase Bank, N.A.
JP MORGAN CHASE BANK 385781(常任代理人 ㈱みずほ銀行決済営業部)
|
122,520 | 1.20% |
| 10 | ㈱みずほ銀行(常任代理人 ㈱日本カストディ銀行) | 110,466 | 1.10% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
20.1%
+2.0% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
4.4%
+2.5% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
6.9%
-2.7% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 31.4% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 日本マスタートラスト信託銀行 | 15.00% | 13.00% | 14.80% +1.80% | |
| 日本カストディ銀行 | 4.30% | 5.10% | 5.30% +0.20% | |
| State Street | 1.70% | 1.90% | 3.20% +1.30% | |
| 日本生命保険 | 2.10% | 2.10% | 1.80% -0.30% | |
| KOREA SECURITIES DEPOSITORY-SAMSUNG NEW ENTRY | — | — | — | 1.50% NEW |
| 明治安田生命保険 | 1.50% | 1.50% | 1.30% -0.20% | |
| 日本製鉄グループ従業員持株会 | 1.30% | 1.30% | 1.20% -0.10% | |
| JP Morgan NEW ENTRY | 1.00% | — | 1.20% NEW | |
| みずほ銀行 | 1.30% | 1.20% | 1.10% -0.10% | |
| JPモルガン証券 last seen 2024 | Exited Top 10 | — | 1.40% | — |
| 三井住友銀行 last seen 2024 | Exited Top 10 | 1.10% | 1.10% | — |
| ㈱三菱UFJ銀行 last seen 2024 | Exited Top 10 | 1.00% | 1.00% | — |
| Concentration (HHI) ⓘ | 260 | 213 | 269 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥210,846M
+3% since 2023
Holdings
57
+6 new
8 exited
Trend
9 unwinding
vs 2023
| Held Company | FY2025 ¥210,846M total | FY2023 ¥203,760M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
15,311 |
-70.0%
↓
7,613,990
|
21,519 | 25,379,690 | M |
|
AIR WATER INC.
エア・ウォーター㈱
|
13,027 |
6,900,000
|
11,454 | 6,900,000 | M |
|
Daido Special Steel Co., Ltd.
大同特殊鋼㈱
|
12,926 |
+250.3%
↑
10,862,200
|
16,124 | 3,100,960 | M |
|
SANKYU INC.
山九㈱
|
12,639 |
2,061,280
|
10,110 | 2,061,280 | M |
|
Sanwa Holdings Corporation
三和ホールディングス㈱
|
11,769 |
-28.8%
↓
2,468,000
|
4,910 | 3,468,000 | M |
|
Namura Shipbuilding Co.,Ltd.
㈱名村造船所
|
11,488 |
5,027,656
|
1,749 | 5,027,656 | M |
|
Sumitomo Corporation
住友商事㈱
|
11,373 |
-33.3%
↓
3,373,005
|
11,843 | 5,059,010 | M |
|
Nittetsu Mining CO.,Ltd.
日鉄鉱業㈱
|
10,698 |
-34.3%
↓
1,625,920
|
8,863 | 2,475,920 | M |
|
OKAMURA CORPORATION
㈱オカムラ
|
10,452 |
5,313,988
|
7,248 | 5,313,988 | M |
|
DAIWA HOUSE INDUSTRY CO., LTD.
大和ハウス工業㈱
|
9,116 |
1,846,200
|
5,749 | 1,846,200 | M |
|
Mitsui & Co., Ltd.
三井物産㈱
|
8,114 |
+100.0%
↑
2,898,500
|
5,965 | 1,449,250 | M |
|
Unipress Co., Ltd.
ユニプレス㈱
|
7,133 |
6,692,000
|
6,156 | 6,692,000 | M |
|
AICHI STEEL CORPORATION
愛知製鋼㈱
|
6,970 |
-35.1%
↓
994,420
|
3,583 | 1,531,420 | M |
|
OKAYA&CO.,LTD.
岡谷鋼機㈱
|
6,065 |
+100.0%
↑
869,000
|
4,505 | 434,500 | M |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
5,990 |
-10.0%
↓
1,578,546
|
9,291 | 1,753,682 | M |
|
Yokogawa Bridge Holdings Corp.
㈱横河ブリッジホールディングス
|
4,988 |
1,987,303
|
4,300 | 1,987,303 | M |
|
MAX CO., LTD.
マックス㈱
|
4,435 |
1,044,950
|
2,215 | 1,044,950 | M |
|
Konoike Transport Co.,Ltd.
鴻池運輸㈱
|
4,270 |
-35.1%
↓
1,591,118
|
3,650 | 2,451,418 | M |
|
TOKYO ROPE MFG. CO., LTD.
東京製綱㈱
|
3,951 |
3,236,535
|
3,780 | 3,236,535 | M |
|
TOHO TITANIUM COMPANY LIMITED
東邦チタニウム㈱
|
3,916 |
3,500,000
|
7,717 | 3,500,000 | |
|
Osaka Titanium Technologies Co., Ltd.
㈱大阪チタニウムテクノロジーズ
|
3,476 |
1,807,000
|
5,764 | 1,807,000 | |
|
Neturen Co., Ltd.
高周波熱錬㈱
|
3,002 |
3,101,800
|
2,155 | 3,101,800 | M |
|
HANWA CO.,LTD.
阪和興業㈱
|
2,934 |
600,000
|
2,367 | 600,000 | M |
| Steel Strips Wheels Limited | 2,669 |
8,500,000
|
2,062 | 8,500,000 | |
|
NIPPON CONCRETE INDUSTRIES CO.,LTD.
日本コンクリート工業㈱
|
2,373 |
6,940,000
|
1,769 | 6,940,000 | M |
|
Toyo Seikan Group Holdings, Ltd.
東洋製罐グループホールディングス㈱
|
2,180 |
892,000
|
1,628 | 892,000 | M |
|
Itochu Corporation
伊藤忠商事㈱
|
1,937 |
280,700
|
1,207 | 280,700 | |
|
Topre Corporation
東プレ㈱
|
1,869 |
994,000
|
1,219 | 994,000 | M |
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
1,804 |
-70.0%
↓
445,424
|
2,788 | 1,484,624 | M |
|
Electric Power Development Co., Ltd.
電源開発㈱
|
1,130 |
446,500
|
951 | 446,500 | M |
|
MIYAJI ENGINEERING GROUP, INC.
宮地エンジニアリンググループ㈱
|
1,126 |
+300.0%
↑
631,200
|
590 | 157,800 | M |
|
MINEBEA MITSUMI Inc.
ミネベアミツミ㈱
|
1,086 |
500,000
|
1,255 | 500,000 | M |
|
SNTCORPORATION
㈱シンニッタン
|
1,036 |
2,577,600
|
628 | 2,577,600 | M |
| PT CITRA TUBINDO Tbk | 1,020 |
55,816,880
|
655 | 55,816,880 | |
|
Fudo Tetra Corporation
㈱不動テトラ
|
903 |
406,252
|
662 | 406,252 | M |
|
Sumitomo Mitsui Trust Group, Inc.
三井住友トラストグループ㈱
|
888 |
NEW
New
238,716
|
— | M | |
|
KAWADA TECHNOLOGIES,INC.
川田テクノロジーズ㈱
|
813 |
+200.0%
↑
280,425
|
351 | 93,475 | |
|
West Japan Railway Company
西日本旅客鉄道㈱
|
787 |
+100.0%
↑
270,000
|
736 | 135,000 | |
|
Shinhokoku Material Corp.
新報国マテリアル㈱
|
704 |
NEW
New
1,017,800
|
— | M | |
|
Keisei Electric Railway Co.
京成電鉄㈱
|
648 |
+200.0%
↑
481,500
|
654 | 160,500 | |
|
Japan Metallurgical & Chemical Co., Ltd.
日本冶金工業㈱
|
528 |
127,050
|
540 | 127,050 | |
|
Kyushu Railway Company
九州旅客鉄道㈱
|
494 |
135,400
|
399 | 135,400 | |
|
MARUFUJI SHEET PILING CO., LTD.
丸藤シートパイル㈱
|
462 |
165,770
|
342 | 165,770 | M |
|
OKUMURA CORPORATION
㈱奥村組
|
436 |
NEW
New
102,751
|
— | M | |
| モリテック スチール㈱ | 392 |
2,244,166
|
709 | 2,244,166 | M |
|
Mitsubishi Steel Mfg. Co.,Ltd.
三菱製鋼㈱
|
368 |
NEW
New
226,000
|
— | M | |
|
TAKADA CORPORATION
㈱高田工業所
|
326 |
-45.6%
↓
220,100
|
529 | 404,928 | M |
|
The Takigami Steel Construction Co.,Ltd.
瀧上工業㈱
|
313 |
42,900
|
343 | 42,900 | M |
|
OKABE CO., LTD.
岡部㈱
|
310 |
NEW
New
364,000
|
— | M | |
|
IWABUCHI CORPORATION
イワブチ㈱
|
201 |
NEW
New
32,000
|
— | M | |
|
TSUKISHIMA HOLDINGS CO., LTD.
月島ホールディングス㈱
|
— | — | M | ||
|
suzuki motor corporation
スズキ㈱
|
— | — | M | ||
| VALLOUREC | — | — | |||
|
UACJ Corporation
㈱UACJ
|
— | — | |||
|
NAKAYAMA STEEL WORKS, LTD.
㈱中山製鋼所
|
— | — | |||
| 住友精密工業㈱ | — | — | |||
|
FUTABA INDUSTRIAL CO., LTD.
フタバ産業㈱
|
— | — | M | ||
|
Kobe Steel, Ltd.
㈱神戸製鋼所
|
— |
−100%
Exit
—
|
11,303 | 10,734,500 | M |
| ㈱淀川製鋼所 | — |
−100%
Exit
—
|
1,087 | 400,103 | M |
| 第一生命ホールディングス㈱ | — |
−100%
Exit
—
|
4,794 | 1,969,100 | M |
| 三井住友トラスト・ホールディングス㈱ | — |
−100%
Exit
—
|
1,806 | 397,858 | M |
| MS ADインシュアランスグループホールディングス㈱ | — |
−100%
Exit
—
|
1,351 | 329,241 | M |
|
Tokio Marine Holdings, Inc.
東京海上ホールディングス㈱
|
— |
−100%
Exit
—
|
1,030 | 404,400 | M |
| 月島機械㈱ | — |
−100%
Exit
—
|
765 | 704,000 | M |
| 新報国製鉄㈱ | — |
−100%
Exit
—
|
590 | 508,900 | |
| Portfolio total | 210,846 | 203,760 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding