Nippon Steel Works (5631) continued to decline drastically. The day before, a medium-term management plan for 5 years until the fiscal year ending 29/3 was announced. As numerical targets, we have set sales of 380 billion yen, operating profit of 37 billion yen, and ROE 10-11%. Results for the fiscal year ended March 24 were 252.5 billion yen, 18 billion yen, and 8.5%, respectively. An increase in sales of defense-related equipment is assumed. As for shareholder returns, in addition to targeting a dividend payout ratio of 35% or more, DOE 2.5% is the lower limit. Expectations for the mid-term budget seem to have also been ahead of time, and surprises with target figures are limited, and the feeling is ahead.
日製鋼所---大幅続落、中期計画発表も出尽くし感が先行へ
Nisshin Steel- significant continuation of decline, ahead of exhaustion feeling even with the announcement of medium-term plan.
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