Document and Entity Information
Document and Entity Information | 12 Months Ended |
Mar. 31, 2019shares | |
Document and entity information [abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2019 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Nippon Steel Corporation |
Entity Central Index Key | 0001140471 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Interactive Data Current | Yes |
Entity Voluntary Filers | No |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Security Reporting Obligation | 15(d) |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 950,321,402 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Current assets | ||
Cash and cash equivalents | ¥ 163,176 | ¥ 142,869 |
Trade and other receivables | 968,333 | 832,040 |
Inventories | 1,567,116 | 1,399,821 |
Other financial assets | 16,915 | 19,178 |
Other current assets | 143,669 | 139,066 |
Total current assets | 2,859,211 | 2,532,977 |
Non-current assets | ||
Property, plant and equipment | 3,246,669 | 3,123,857 |
Goodwill | 52,803 | 42,263 |
Intangible assets | 106,131 | 97,131 |
Investments accounted for using the equity method | 793,146 | 799,239 |
Other financial assets | 812,668 | 1,007,627 |
Defined benefit assets | 82,247 | 109,010 |
Deferred tax assets | 88,357 | 34,944 |
Other non-current assets | 8,292 | 9,082 |
Total non-current assets | 5,190,316 | 5,223,157 |
Total assets | 8,049,528 | 7,756,134 |
Current liabilities | ||
Trade and other payables | 1,611,403 | 1,580,597 |
Bonds, borrowings and lease liabilities | 515,355 | 505,384 |
Other financial liabilities | 1,017 | 674 |
Income taxes payable | 38,719 | 45,350 |
Other current liabilities | 34,042 | 28,189 |
Total current liabilities | 2,200,538 | 2,160,194 |
Non-current liabilities | ||
Bonds, borrowings and lease liabilities | 1,853,876 | 1,652,371 |
Other financial liabilities | 6,501 | 6,572 |
Defined benefit liabilities | 186,755 | 173,619 |
Deferred tax liabilities | 28,253 | 95,351 |
Other non-currentliabilities | 166,235 | 143,127 |
Total non-currentliabilities | 2,241,622 | 2,071,043 |
Total liabilities | 4,442,160 | 4,231,238 |
Equity | ||
Common stock | 419,524 | 419,524 |
Capital surplus | 393,917 | 386,867 |
Retained earnings | 2,300,175 | 2,141,658 |
Treasury stock | (58,831) | (132,162) |
Other components of equity | 176,000 | 321,101 |
Total equity attributable to owners of the parent | 3,230,788 | 3,136,991 |
Non-controllinginterests | 376,579 | 387,905 |
Total equity | 3,607,367 | 3,524,896 |
Total liabilities and equity | ¥ 8,049,528 | ¥ 7,756,134 |
Consolidated Statements of Prof
Consolidated Statements of Profit or Loss - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Profit or loss [abstract] | |||
Revenue | ¥ 6,177,947 | ¥ 5,712,965 | ¥ 4,696,828 |
Cost of sales | (5,391,493) | (4,948,883) | (4,085,651) |
Gross profit | 786,453 | 764,082 | 611,176 |
Selling, general and administrative expenses | (568,409) | (533,787) | (466,351) |
Share of profit in investments accounted for using the equity method | 86,411 | 65,657 | 44,118 |
Other operating income | 102,606 | 91,521 | 62,108 |
Other operating expenses | (70,120) | (98,773) | (81,171) |
Business profit | 336,941 | 288,700 | 169,878 |
Losses on natural disaster | (22,349) | ||
Gains or losses from reorganization | (49,480) | 40,165 | |
Operating profit | 265,111 | 288,700 | 210,044 |
Finance income | 6,104 | 7,644 | 6,322 |
Finance costs | (22,445) | (24,584) | (21,586) |
Profit before income taxes | 248,769 | 271,760 | 194,780 |
Income tax expense | 8,809 | (59,549) | (40,297) |
Profit for the year | 257,579 | 212,210 | 154,483 |
Profit for the year attributable to: | |||
Owners of the parent | 251,169 | 180,832 | 137,246 |
Non-controllinginterests | ¥ 6,409 | ¥ 31,377 | ¥ 17,237 |
Earnings per share | |||
Basic earnings per share (Yen) | ¥ 281.77 | ¥ 204.87 | ¥ 155.08 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income or Loss - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of comprehensive income [abstract] | |||
Profit for the year | ¥ 257,579 | ¥ 212,210 | ¥ 154,483 |
Other comprehensive income | |||
Changes in fair value of financial assets measured at fair value through other comprehensive income | (104,557) | 65,222 | 86,269 |
Remeasurements of defined benefit plans | (3,531) | 19,422 | 24,063 |
Share of other comprehensive income of investments accounted for using the equity method | (2,953) | 5,125 | 406 |
Subtotal | (111,042) | 89,770 | 110,740 |
Changes in fair value of cash flow hedges | 1,522 | 1,788 | 9,452 |
Foreign exchange differences on translation of foreign operations | (41,256) | 10,592 | (25,079) |
Share of other comprehensive income of investments accounted for using the equity method | (21,687) | (2,602) | 9,863 |
Subtotal | (61,421) | 9,778 | (5,763) |
Total other comprehensive income, net of tax | (172,464) | 99,548 | 104,977 |
Total comprehensive income for the year | 85,114 | 311,759 | 259,460 |
Owners of the parent | 84,126 | 272,150 | 243,122 |
Non-controllinginterests | 988 | 39,609 | 16,338 |
Total comprehensive income for the year | ¥ 85,114 | ¥ 311,759 | ¥ 259,460 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - JPY (¥) ¥ in Millions | Total | Common Stock [member] | Capital surplus [member] | Equity attributable Retained earnings [member] | Treasury stock [member] | Changes in fair value of financial assets measured at fair value through other comprehensive income [member] | Remeasurements of defined benefit plans [member] | Changes in fair value of cash flow hedges [member] | Foreign exchange differences on translation of foreign operations [member] | Accumulated other comprehensive income [member] | Equity attributable to owners of parent [member] | Non-controlling interests [member] |
Beginning Balance at Mar. 31, 2016 | ¥ 2,989,195 | ¥ 419,524 | ¥ 383,010 | ¥ 1,838,449 | ¥ (87,942) | ¥ 209,590 | ¥ (20,704) | ¥ 188,886 | ¥ 2,741,929 | ¥ 247,266 | ||
Comprehensive income | ||||||||||||
Profit for the year | 154,483 | 137,246 | 137,246 | 17,237 | ||||||||
Other comprehensive income | 104,977 | 84,690 | ¥ 21,853 | 11,450 | ¥ (12,117) | 105,875 | 105,875 | (898) | ||||
Total comprehensive income | 259,460 | 137,246 | 84,690 | 21,853 | 11,450 | (12,117) | 105,875 | 243,122 | 16,338 | |||
Transactions with owners and others | ||||||||||||
Cash dividends | (18,886) | (13,554) | (13,554) | (5,332) | ||||||||
Purchases of treasury stock | (44,321) | (44,321) | (44,321) | |||||||||
Disposals of treasury stock | 182 | (17) | 199 | 182 | ||||||||
Changes in ownership interests in subsidiaries | 2,742 | 3,876 | 3,876 | (1,133) | ||||||||
Transfer from other components of equity to retained earnings | 38,194 | (16,341) | (21,853) | (38,194) | ||||||||
Business combinations and others | 98,934 | 0 | 0 | 98,934 | ||||||||
Subtotal | 38,651 | 3,858 | 24,640 | (44,121) | (16,341) | (21,853) | (38,194) | (53,816) | 92,467 | |||
Ending Balance at Mar. 31, 2017 | 3,287,307 | 419,524 | 386,869 | 2,000,336 | (132,063) | 277,939 | (9,253) | (12,117) | 256,568 | 2,931,234 | 356,072 | |
Comprehensive income | ||||||||||||
Profit for the year | 212,210 | 180,832 | 180,832 | 31,377 | ||||||||
Other comprehensive income | 99,548 | 63,963 | 19,581 | 2,653 | 5,118 | 91,317 | 91,317 | 8,231 | ||||
Total comprehensive income | 311,759 | 180,832 | 63,963 | 19,581 | 2,653 | 5,118 | 91,317 | 272,150 | 39,609 | |||
Transactions with owners and others | ||||||||||||
Cash dividends | (73,700) | (66,293) | (66,293) | (7,406) | ||||||||
Purchases of treasury stock | (102) | (102) | (102) | |||||||||
Disposals of treasury stock | 4 | 1 | 3 | 4 | ||||||||
Changes in ownership interests in subsidiaries | (769) | (3) | (3) | (766) | ||||||||
Transfer from other components of equity to retained earnings | 26,783 | (7,201) | (19,581) | (26,783) | ||||||||
Business combinations and others | 397 | 0 | 0 | 396 | ||||||||
Subtotal | (74,170) | (1) | (39,510) | (98) | (7,201) | (19,581) | (26,783) | (66,393) | (7,776) | |||
Ending Balance at Mar. 31, 2018 | 3,524,896 | 419,524 | 386,867 | 2,141,658 | (132,162) | 334,701 | (6,600) | (6,998) | 321,101 | 3,136,991 | 387,905 | |
Comprehensive income | ||||||||||||
Profit for the year | 257,579 | 251,169 | 251,169 | 6,409 | ||||||||
Other comprehensive income | (172,464) | (104,254) | (4,369) | 2,166 | (60,586) | (167,043) | (167,043) | (5,420) | ||||
Total comprehensive income | 85,114 | 251,169 | (104,254) | (4,369) | 2,166 | (60,586) | (167,043) | 84,126 | 988 | |||
Transactions with owners and others | ||||||||||||
Cash dividends | (78,315) | (70,710) | (70,710) | (7,604) | ||||||||
Purchases of treasury stock | (82) | (82) | (82) | |||||||||
Disposals of treasury stock | 72,228 | (1,427) | 73,656 | 72,228 | ||||||||
Changes in ownership interests in subsidiaries | (85,614) | 8,477 | 8,477 | (94,092) | ||||||||
Transfer from other components of equity to retained earnings | (21,942) | 17,573 | 4,369 | 21,942 | ||||||||
Business combinations and others | 89,140 | (242) | (242) | 89,383 | ||||||||
Subtotal | (2,643) | 7,050 | (92,652) | 73,331 | 17,573 | ¥ 4,369 | 21,942 | 9,670 | (12,314) | |||
Ending Balance at Mar. 31, 2019 | ¥ 3,607,367 | ¥ 419,524 | ¥ 393,917 | ¥ 2,300,175 | ¥ (58,831) | ¥ 248,020 | ¥ (4,433) | ¥ (67,585) | ¥ 176,000 | ¥ 3,230,788 | ¥ 376,579 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities | |||
Profit before income taxes | ¥ 248,769 | ¥ 271,760 | ¥ 194,780 |
Depreciation and amortization | 408,616 | 366,565 | 330,912 |
Finance income | (6,104) | (7,644) | (6,322) |
Finance costs | 22,445 | 24,584 | 21,586 |
Share of profit in investments accounted for using the equity method | (86,411) | (65,657) | (44,118) |
Gains on sale of property, plant and equipment and intangible assets | (5,801) | (9,312) | (6,223) |
Gains or losses from reorganization | 49,480 | (40,165) | |
(Increase) decrease in trade and other receivables | (114,662) | 931 | (45,605) |
(Increase) decrease in inventories | (129,483) | (165,166) | 24,001 |
Increase in trade and other payables | 81,058 | 92,326 | 57,627 |
Other, net | 21,640 | 18,674 | 50,193 |
Subtotal | 489,547 | 527,062 | 536,667 |
Interest received | 5,796 | 5,644 | 6,326 |
Dividends received | 57,088 | 45,775 | 28,773 |
Interest paid | (19,278) | (26,506) | (20,435) |
Income taxes paid | (80,811) | (66,435) | (44,396) |
Net cash flows provided by operating activities | 452,341 | 485,539 | 506,935 |
Cash flows from investing activities | |||
Purchases of property, plant and equipment and intangible assets | (438,758) | (411,926) | (329,086) |
Proceeds from sales of property, plant and equipment and intangible assets | 12,841 | 13,908 | 15,334 |
Purchases of investment securities | (8,362) | (3,169) | (48,715) |
Proceeds from sales of investment securities | 87,693 | 39,936 | 42,619 |
Purchases of investments in associates | (2,787) | (4,940) | (14,783) |
Proceeds from sales of investments in associates | 5,348 | 9,522 | 31,282 |
Purchases of shares of subsidiaries resulting in change in scope of consolidation | (35,658) | 289 | (52,892) |
Proceeds from sales of shares of subsidiaries resulting in change in scope of consolidation | 3,575 | 473 | 13,019 |
Loans to associates and others | (11,870) | (6,688) | (9,711) |
Collection of loans from associates and others | 3,948 | 2,878 | 2,689 |
Other, net | 2,223 | (3,455) | (2,338) |
Net cash flows used in investing activities | (381,805) | (363,170) | (352,582) |
Cash flows from financing activities | |||
Increase/(decrease) in short-term borrowings, net | 44,401 | (7,114) | (48,189) |
Increase in commercial paper, net | 23,000 | 57,140 | 20,800 |
Proceeds from long-term borrowings | 285,857 | 247,507 | 179,432 |
Repayments of long-term borrowings | (183,006) | (244,835) | (273,476) |
Proceeds from issuance of bonds | 60,000 | 40,000 | 20,000 |
Redemption of bonds | (85,700) | (140,000) | (50,000) |
Increase/(decrease) in factored receivables to group company, net | (85,614) | 27,369 | 75,969 |
Purchases of treasury stock | (55) | (96) | (44,315) |
Cash dividends paid | (70,710) | (66,293) | (13,554) |
Dividends paid to non-controlling interests | (7,604) | (7,406) | (5,332) |
Proceeds from share issuance to non-controlling shareholders | 2,696 | ||
Payments for changes in ownership interests in subsidiaries that do not result in change in scope of consolidation | (4,874) | (740) | (650) |
Other, net | (18,592) | (10,500) | (11,483) |
Net cash flows used in financing activities | (42,900) | (104,969) | (148,103) |
Effect of exchange rate changes on cash and cash equivalents | (7,328) | 1,540 | (3,503) |
Net increase in cash and cash equivalents | 20,306 | 18,940 | 2,745 |
Cash and cash equivalents at beginning of the year | 142,869 | 123,929 | 121,183 |
Cash and cash equivalents at end of the year | ¥ 163,176 | ¥ 142,869 | ¥ 123,929 |
Reporting Entity
Reporting Entity | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Reporting Entity | 1. Reporting Entity Nippon Steel Corporation (hereinafter referred to as the “Company” or “NSC”) is a corporation domiciled in Japan. The consolidated financial statements are composed of the Company and its consolidated subsidiaries. The principal businesses of the Company and its subsidiaries (collectively hereinafter referred to as the “Group”) consist of steelmaking and steel fabrication business, engineering and construction business, chemicals & materials business, and system solutions business. The details are described in Note 7 “Segment Information”. On April 1, 2019, Nippon Steel & Sumitomo Metal Corporation changed its corporate name to Nippon Steel Corporation. |
Basis of Preparation
Basis of Preparation | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Basis of Preparation | 2. Basis of Preparation (1) Compliance with International Financial Reporting Standards The Company’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). The term IFRS also includes International Accounting Standards (“IAS”) and the related interpretations of the interpretations committees (“SIC” and” IFRIC”). (2) Basis of measurement The consolidated financial statements have been prepared on the historical cost basis except for certain assets and liabilities as separately stated in Note 3 “Significant Accounting Policies”. (3) Functional currency and presentation currency The consolidated financial statements are presented in Japanese yen, which is the functional currency of the Company. All amounts have been truncated to the nearest millions of Japanese yen, unless otherwise indicated. (4) Authorization of the consolidated financial statements The consolidated financial statements were authorized for issuance by Eiji Hashimoto, Representative Director and President of the Company on July 11, 2019. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Significant Accounting Policies | 3. Significant Accounting Policies (1) Basis of consolidation (a) Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date when control is obtained until the date when control is lost. If the Group loses control of a subsidiary, any gain or loss resulting from the loss of control is recognized in profit or loss. Changes in the Group’s interest in a subsidiary not resulting in a loss of control are accounted for as equity transactions, and the difference between the adjustment to the non-controlling When the accounting policies of the subsidiaries are different from those of the Group, the financial statements of subsidiaries are adjusted to ensure that the accounting policies are consistent with those of the Group. All intragroup balances, transaction amounts and unrealized gains and losses arising from intragroup transactions are eliminated in full in preparing the consolidated financial statements. Intragroup losses are eliminated in full except to the extent that the underlying asset is impaired. (b) Investments in associates An associate is an entity over which the Group has significant influence, which is the power to participate in the financial and operating policy decisions of the investee but there are no control. In principle, it is presumed that the Group has significant influence over an investee when the Group holds 20% or more but no more than 50% of the voting rights of the investee. An investee is determined as an associate when the Group has significant influence over it in one or more ways, not only the ratio of the voting rights, but also through participation in the policy-making progress and other right. An investment in an associate is accounted for under the equity method from the date when the Group has significant influence over it until the date when the significant influence is lost. Under the equity method, the investment is initially recognized at cost, and any excess of the Group’s share of the acquisition-date fair value of the investee’s identifiable net assets over the cost of the investment is recognized as goodwill that is included in the carrying amount of the investment. Thereafter, the investment is adjusted for the change in the Group’s share of the investee’s profit or loss and other comprehensive income. When the Group’s share of losses exceeds its interest in the associate, the Group’s interest is reduced to zero and recognition of further losses over the carrying amount of the investment is discontinued except to the extent that the Group assumes obligations or makes payments on behalf of the investee. When the Group ceases to have significant influence over an associate and discontinues the use of the equity method, gain or loss arising from discontinuance of the use of the equity method is recognized in profit or loss. Goodwill arising from the acquisition of an associate forms a part of the carrying amount of investments in the associate and is not separately recognized. Therefore, the goodwill of investment in an associate is not subject to impairment test separately. However, whenever there is any possibility that an investment in an associate may be impaired, the entire carrying amount of the investment is tested for impairment as a single asset. Regarding impairment of goodwill, refer to (10) “Impairment of non-financial (c) Joint arrangements The Group determines the type of a joint arrangement in which it is involved by considering its rights and obligations arising from the arrangement. When the parties that have joint control of an arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement, the arrangement is classified as a joint operation. When the parties that collectively control the arrangement have rights to the net assets of the arrangement and decisions about the relevant activities require the unanimous consent of those parties, that arrangement is classified as a joint venture. (d) Scope of consolidation and Application of equity method Number of consolidated subsidiaries: 420 companies At the end of fiscal year 2018, the scope of consolidation expanded by 46 companies, including 45 newly acquired companies and 1 newly established company. 19 companies, mainly 8 liquidations and 6 merged companies, were eliminated from the scope of consolidation during the fiscal year ended March 31, 2019. Number of equity-method affiliates (associates, jointly controlled businesses and jointly controlled companies) were 119 companies During the consolidated fiscal year 4 companies were added and 8 companies were removed from the scope of equity-method affiliates. (2) Business combinations Business combinations are accounted for using the acquisition method when control is obtained. The identifiable assets acquired and the liabilities assumed of the acquiree are recognized at fair value as of the acquisition date. When the total of consideration transferred in business combinations and amount of non-controlling non-controlling The consideration transferred for the acquisition is measured as the total of fair value of the assets transferred, the liabilities incurred to former owners of the acquiree and the equity interests issued by the acquirer. In addition, the fair value of equity interest in the acquiree that the Group held before the date of obtaining control is included in the consideration transferred for a business combination achieved in stages. Acquisition costs attributable to a business combination are recognized as expenses as incurred. Non-controlling non-controlling acquisition-by-acquisition The components of profit or loss and other comprehensive income are attributed to owners of the parent and non-controlling interests based on the proportionate shares held. (3) Foreign currency translation (a) Functional currency and presentation currency The financial statements of each Group entity are presented in its functional currency that is the currency of the primary economic environment in which the entity operates. The consolidated financial statements are presented in Japanese yen, which is the functional currency of the Company. (b) Foreign currency transactions Foreign currency transactions are translated into the functional currency using the spot exchange rate at the transaction date or using the foreign exchange rate that approximates such rate. Foreign currency monetary items at the end of each reporting period are translated into the functional currency using the exchange rate at the end of each reporting period. Non-monetary Non-monetary (c) Foreign operations The financial performance and financial position of all of foreign operations which use a functional currency other than the presentation currency are translated into the presentation currency of the Company using the following exchange rates: (i) Assets and liabilities are translated using the exchange rates at the reporting date (ii) Income and expenses are translated at average exchange rates (iii) All resulting exchange differences arising from translation of foreign operations are recognized in other comprehensive income. When a foreign operation is disposed of, the cumulative amount of the exchange differences recognized in other comprehensive income is reclassified to profit or loss. (4) Financial instruments (a) Non-derivative (i) Recognition and measurement The Group recognizes financial assets when it becomes a party to the contractual provisions of the assets. Financial assets purchased or sold in a regular way are recognized on the trade date. Financial assets other than derivative financial instruments are classified at initial recognition as those measured at amortized cost or at fair value through other comprehensive income. Financial assets measured at amortized cost and fair value through other comprehensive income are initially recognized at their fair value plus transaction costs that are directly attributable to the acquisition of the assets. Financial assets measured at amortized cost Financial assets are classified as financial assets measured at amortized cost only if the assets are held within the Group’s business model with an objective of collecting contractual cash flows, and if the contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. However, the trade receivables that do not contain a significant financing component are recognized initially at their transaction price. Financial assets measured at fair value through other comprehensive income For certain equity instruments held primarily for the purpose of maintaining or strengthening business relationship with investees, the Group designates these instruments as financial assets measured at fair value through other comprehensive income at initial recognition. Subsequent changes in fair value are recognized in other comprehensive income. When these financial assets are derecognized or significant deterioration of fair value occurs, a gain or loss accumulated in other comprehensive income is reclassified to retained earnings. Dividends from the financial assets measured at fair value through other comprehensive income are recognized in profit or loss when the Group’s right to receive dividends is established. (ii) Derecognition Financial assets are derecognized when the contractual rights to the cash flows from the financial assets expire, or when the Group transfers the financial assets and substantially all the risks and rewards of ownership of the assets to another party. (iii) Impairment of financial assets measured at amortized cost The Group assesses expected credit loss at the end of each reporting period for the impairment of financial assets measured at amortized cost. The loss allowance is measured at an amount equal to the lifetime expected credit losses for trade receivables and financial assets with a significant increase in credit risk since initial recognition. The Group determines whether credit risk has significantly increased based on changes in the risk of a default occurring on the financial assets. When determining whether there are changes in the risk of a default occurring on the financial assets, the Group considers the following; • Significant deterioration in the financial conditions of an issuer or a borrower; • A breach of contract, such as default or past-due • It has become probable that a borrower will enter into bankruptcy or other financial reorganization (b) Non-derivative (i) Recognition and measurement Financial liabilities other than derivatives are classified as financial liabilities measured at amortized cost. (ii) Derecognition The Group derecognizes financial liabilities when the obligation specified in the contract is discharged, cancelled or expires. (c) Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statement of financial position only when the Group currently has a legally enforceable right to offset the recognized amounts and intends either to settle on a net basis or to realize the assets and settle the liabilities simultaneously. (d) Derivatives and hedge accounting The Group utilizes derivatives, including foreign exchange forward contracts, interest rate swaps and currency swaps, to hedge foreign currency risk and interest rate risk. These derivatives are initially recognized at fair value when the contract is entered into, and are subsequently measured at fair value. Changes in fair value of derivatives are recognized in profit or loss. However, the effective portion of cash flow hedges is recognized in other comprehensive income. The Group formally documents relationships between hedging instruments and hedged items, as well as its risk management objective and strategies for undertaking various hedge transactions in an internal rule titled “Administrative Provisions on Transactions of Derivative Instruments”. The rule stipulates that derivative transactions are conducted only for the purpose of mitigating risks arising from the Group’s principal business activities (including forecast transactions) and the trading of derivatives for speculative purposes is prohibited. The Group evaluates whether the derivatives designated as a hedging instrument offsets changes in fair value or the cash flows of the hedged items to a great extent when designating a hedging relationship and on an ongoing basis. A hedging relationship that qualifies for hedge accounting is classified and accounted for as follows: (i) Fair value hedges Changes in fair value of derivative as a hedging instrument are recognized in profit or loss. Changes in fair value of a hedged item adjust the carrying amount of the hedged item and are recognized in profit or loss. (ii) Cash flow hedges The effective portion of changes in fair value of derivative as a hedging instrument is recognized in other comprehensive income. Any ineffective portion of changes in fair value of derivative as the hedging instrument is recognized in profit or loss. The amount accumulated in other comprehensive income is reclassified to profit or loss when the hedged transactions affect profit or loss. When a hedged item results in the recognition of a non-financial non-financial non-financial non-financial (5) Cash and cash equivalents Cash and cash equivalents comprises of cash on hand, bank deposits available for withdrawal on demand, and short-term investments with the maturity of three months or less from the acquisition date, that are readily convertible to cash and subject to an insignificant risk of changes in value. (6) Inventories Inventories are measured at the lower of cost or net realizable value. The cost of inventories is measured based on the weighted average method, and comprises of all costs of purchasing and processing as well as other costs incurred in bringing the inventories to their present location and condition. Net realizable value represents the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. (7) Property, plant and equipment (a) Recognition and measurement Property, plant and equipment is initially measured at cost and presented at cost less accumulated depreciation and impairment losses. Acquisition cost includes costs directly attributable to the acquisition of the asset and costs of dismantling, removing and restoration of the asset. (b) Depreciation Depreciation of property, plant and equipment is mainly computed by the declining-balance method over the estimated useful lives of each component based on the depreciable amount, except for land and other non-depreciable The estimated useful lives of major property, plant and equipment are as follows: • Buildings: Principally 31 years • Machinery: Principally 14 years The depreciation methods, estimated useful lives and residual values are reviewed at the end of each reporting period, and modified as necessary. (8) Goodwill and intangible assets Intangible assets are measured at cost. Intangible assets with finite useful lives are presented at cost less accumulated amortization and impairment losses. Goodwill and intangible assets with indefinite useful lives are presented at cost less accumulated impairment losses. (a) Goodwill When the total of consideration transferred in business combinations and amount of non-controlling Goodwill is not amortized and is allocated to cash-generating units or groups of cash-generating units. Regarding accounting policy for impairment of goodwill, refer to (10) “Impairment of non-financial (b) Intangible assets Intangible assets acquired separately are measured at cost at the date of initial recognition. The costs of intangible assets acquired in business combinations are measured at fair value at the acquisition date. Intangible assets with finite useful lives are presented at cost less accumulated amortization and impairment losses. Expenditures related to internally generated intangible assets are recognized as expenses when incurred, unless development expenses meet the criteria for capitalization. (c) Amortization Amortization of intangible assets with finite useful lives is recognized as an expense by the straight-line method over their estimated useful lives from the date when the assets are available for their intended use. The amortization methods and useful lives are reviewed at the end of each reporting period, and modified as necessary. The estimated useful lives of major intangible assets with finite useful lives are as follows: • Software: Principally 5 years • Mining rights: Principally 25 years Intangible assets with indefinite useful lives and intangible assets not yet available for use are not amortized. (d) Expenditure on research and development activities Expenditure on research activities is recognized in profit or loss as incurred. Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Group intends to and has sufficient resources to complete the development and to use or sell the asset. Otherwise, it is recognized in profit or loss as incurred. (9) Leases The Group determines whether an arrangement is, or contains, a lease based on the substance of the arrangement as of the commencement date of the lease. For the substance of the arrangement, it makes an assessment of whether the fulfillment of the arrangement is dependent on the use of a specific asset or group of assets, and whether a right to use of the asset is transferred under the arrangement. A lease is classified as a finance lease, if all the risks and rewards of ownership of an asset are substantially transferred to the Group. Otherwise, a lease is classified as an operating lease. (a) Finance lease Lease assets and lease liabilities are initially recognized at the lower of fair value at the commencement of the lease or present value of the minimum lease payments. If it is reasonably certain that ownership will be transferred to a lessee by the end of the lease term, the leased asset is depreciated principally by the declining-balance method over the estimated useful life of the asset. Otherwise, the asset is depreciated over the shorter of the estimated useful life or the lease term. (b) Operating lease Lease payments under an operating lease are recognized in profit or loss on a straight-line basis over the relevant lease term. (10) Impairment of non-financial For the non-financial The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less costs to sell and its value in use. When the recoverable amount of the individual asset cannot be estimated, the Group estimates the recoverable amount of the cash-generating unit or the group of cash-generating units to which the asset belongs. The value in use is calculated by discounting the estimated future cash flows to the present value, and a pre-tax The cash-generating unit or the group of cash-generating units to which goodwill is allocated is the lowest level monitored for internal management purposes, and is not larger than an operating segment. As corporate assets do not independently generate cash inflows, when there is an indication that a corporate asset may be impaired, an impairment test is performed based on the recoverable amount of the cash-generating unit or the group of cash-generating units to which such corporate asset belongs. If the recoverable amount of the asset or the cash-generating unit is less than the carrying amount, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognized. The impairment loss recognized with respect to the cash-generating unit is allocated first to reduce the carrying amount of any goodwill allocated to the cash-generating unit, and then to reduce other assets of the unit on a pro-rata An impairment loss is reversed if there are indications that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased and the recoverable amount of the asset is greater than its carrying amount. The amount to be reversed would not exceed its carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. An impairment loss recognized in goodwill is not reversed. (11) Employee benefits Employee benefits include short-term employee benefits, retirement benefits, and other long-term employee benefits. (a) Short-term employee benefits Short-term employee benefit obligations are measured on an undiscounted basis and are recognized as expenses when the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash incentive plans if the Group has a present legal or constructive obligation to pay in exchange for services provided by the employees in the prior period, and such obligation can be reliably estimated. (b) Retirement benefits Retirement benefit plans comprise of defined benefit corporate pension plans, defined contribution plans, and lump-sum (i) Defined benefit corporate pension plans and lump-sum The net defined benefit liabilities or assets of defined benefit plans are recognized as the present value of defined benefit obligations less the fair value of any plan assets. The present value of defined benefit obligations is calculated annually by qualified actuaries using the projected unit credit method. The discount rates are based on the market yields of high quality corporate bonds at the end of each reporting period that have terms consistent with the discount period, which is established as the estimated term of the retirement benefit obligations through to the estimated dates for payments of future benefits. Remeasurements of defined benefit plans are recognized immediately in other comprehensive income when incurred, while past service costs are recognized in profit or loss. (ii) Defined contribution plans Contributions to defined contribution retirement plans are recognized as expenses in the period when the employees render the related services. (12) Equity (a) Ordinary shares Ordinary shares are classified as equity. Costs directly attributable to the issuance of ordinary shares (net of tax effects) are recognized as a deduction from equity. (b) Treasury stock When the Company acquires treasury stocks, the consideration paid, including any directly attributable costs (net of tax effects), is deducted from equity. In case of disposal of treasury stocks, the difference between the consideration received and the carrying amount of treasury stocks is recognized in equity. (13) Revenue The Group has adopted IFRS 15 “Revenue from Contracts with Customers” from the fiscal year ended March 31, 2019. Under IFRS 15, revenue is recognized based on the following five-steps. Step 1: Identify the contract with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when or as the Group satisfies a performance obligation Revenue generated from Steelmaking and Steel Fabrication segment and Chemicals and Materials segment consists primarily of revenue generated from sale of goods while revenue generated from Engineering and Construction segment and System Solutions segment primarily consists of services rendered under construction contracts. (a) Sale of goods The Group recognizes revenue from sale of goods when the customer obtains control of the goods and therefore a performance obligation is satisfied at a point in time whereby the Group no longer retains physical possession of goods upon shipment, the Group has the right to be paid from the customer, and when the legal title is transferred to the customer. With respect to revenue from rendering of service whose performance obligation is satisfied at a point in time, the Group recognizes revenue when the rendering of service is completed. Revenue is measured at the amount of consideration received or receivable less discounts and rebates. The consideration of the transaction is primarily collected within one year after the satisfaction of the performance obligation and it does not contain a significant financing component. (b) Construction contracts and built-to-order The Group recognizes revenue from construction contracts and built-to-order With respect to revenue from rendering of services whose performance obligation is satisfied over time, the Group recognizes revenue evenly throughout the duration of the service. The Group has adopted IFRS 15 “Revenue from Contracts with Customers” from the fiscal year ended March 31, 2019. In applying IFRS 15, the Group elected to apply the cumulative effect transition method where the cumulative effect of applying the Standard is recognized at the date of initial application. The adoption of the standard had no significant effect on each amount recognized in the consolidated financial statements. (14) Income taxes Income taxes comprise of current taxes and deferred taxes, and are recognized in profit or loss, except for the items which are recognized directly in equity or other comprehensive income. Current taxes are measured at the amounts expected to be paid or recovered from the taxation authorities using the tax rates that have been enacted or substantively enacted at the end of the reporting period. Deferred tax assets and deferred tax liabilities are recognized based on future tax consequences attributable to temporary differences between the carrying amounts of assets or liabilities for accounting purposes and the tax bases of the assets or liabilities, carryforward of unused tax losses and tax credits. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax losses and unused tax credits can be utilized. Deferred tax assets are reviewed at the end of each reporting period and recognized only to the extent that it is probable that the tax benefits can be realized. However, deferred tax assets are not recognized if the initial recognition of an asset or liability in a transaction that is not a business combination affects neither accounting profit nor taxable profit at the time of the transaction. Deferred tax assets arising from deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements are recognized only to the extent of the following circumstances: • The temporary difference will reverse in the foreseeable future; and • Taxable profit will be available against which the temporary difference can be utilized. Deferred tax liabilities are recognized for all taxable temporary differences, except for the following circumstances: • On the initial recognition of goodwill; • On the initial recognition of an asset or liability in a transaction that is not a business combination affects neither accounting profit nor taxable profit at the time of the transaction; • Taxable temporary differences associated with investments in subsidiaries to the extent that the parent company is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and deferred tax liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and in either of the following circumstances: • Income taxes are levied by the same taxation authority on the same taxable entity; or • Different taxable entities intend either to settle current tax assets and current tax liabilities on a net basis, or to realize the current tax assets and settle the current tax liabilities simultaneously. (15) Earnings per share Basic earnings per share is calculated by dividing the profit for the reporting period attributable to owners of the Company by the weighted average number of common stock outstanding during the period in which the number of treasury stock is excluded. |
Significant Accounting Estimate
Significant Accounting Estimates and Judgments | 12 Months Ended |
Mar. 31, 2019 | |
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Significant Accounting Estimates and Judgments | 4. Significant Accounting Estimates and Judgments The preparation of consolidated financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the adoption of accounting policies and the reported amounts of assets, liabilities, income and expenses. However, actual results could differ from these estimates. The estimates and their underlying assumptions are reviewed on an ongoing basis. The effects of changes in accounting estimates are recognized in the period in which the estimates are revised. Information about judgments that have been made in the process of applying the Group’s accounting policies and that have the most significant effects on the amounts recognized in the consolidated financial statements is included in the following notes: • Note 3 (1) “Basis of consolidation” and Note 15 “Interests in Subsidiaries, Associates and Others” • Note 3 (4) “Financial instruments” and Note 33 “Financial Instruments” Information about uncertainty of key estimates and assumptions that may have significant risks of causing material adjustments to the carrying amounts of assets and liabilities in the subsequent reporting year is included in the following notes: • Note 3 (10) “Impairment of non-financial Non-Financial • Note 3 (11) “Employee benefits” and Note 20 “Employee Benefits” • Note 3 (13) “Revenue” and Note 23 “Revenue” • Note 3 (14) “Income taxes” and Note 16 “Income Taxes” • Note 36 “Loan Guarantees” |
New Accounting Standards and In
New Accounting Standards and Interpretations Not Yet Applied | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
New Accounting Standards and Interpretations Not Yet Applied | 5. New Accounting Standards and Interpretations Not Yet Applied New standards, interpretations, and amendments to standards and interpretations that have not yet been adopted in the preparation of the consolidated financial statements as of March 31, 2019, are as follows. IASB issued IFRS 16 “Leases” in January 2016. IFRS 16 replaces existing lease guidance including IAS 17 “Leases”, IFRIC 4 “Determining whether an Arrangement contains a Lease”, SIC-15 SIC-27 IFRS 16 changes the definition of a lease and provides a single on-balance right-of-use right-of-use IFRS 16 is effective for annual periods beginning on or after January 1, 2019. Accordingly, the Group applies this standard initially on April 1, 2019. This standard can be applied retrospectively to each prior reporting period presented (retrospective approach) or retrospectively with the cumulative effect of initially applying this standard recognized at the date of initial application (modified retrospective approach). The Group applies the modified retrospective approach. The Group also applies the practical expedient to grandfather the definition of a lease on transition and applies this standard to all the lease contracts entered into prior to April 1, 2019 as identified under IAS 17 “Leases” and IFRIC 4 “Determining whether an Arrangement contains a Lease”. The impact of applying this standard to total assets and total liabilities in the consolidated financial statements is 31,944 million yen. |
Reclassifications
Reclassifications | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Reclassifications | 6. Reclassifications Certain prior amounts have been reclassified to conform to the presentation as of and for the year ended March 31, 2019 |
Segment Information
Segment Information | 12 Months Ended |
Mar. 31, 2019 | |
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Segment Information | 7. Segment Information (1) Description of reportable segments The Company engages in the Steelmaking and Steel Fabrication business and acts as the holding company of the Group. The Group has four operating segments determined mainly based on product and service, which are Steelmaking and Steel Fabrication, Engineering and Construction, Chemicals and Materials, and System Solutions. Each operating segment shares the management strategy of the Group, while conducting its business activities independently from and in parallel with other companies of the Group. The following summary describes the operations of each reportable segment: Reportable segments Principal businesses Steelmaking and Steel Fabrication Manufacturing and sales of steel products Engineering and Construction Manufacturing and sales of industrial machinery, equipment and steel structures, construction projects under contract, waste processing and recycling, and supplying electricity, gas, and heat Chemicals and Materials Manufacturing and sales of coal-based chemical products, petrochemicals, electronic materials, materials and components for semiconductors and electronic parts, carbon fiber and composite products, and products that utilize technologies for metal processing System Solutions Computer systems engineering and consulting services; IT-enabled The Group changed its segments from the year ended March 31, 2019. The Group integrated Chemicals segment and New Materials segment to form Chemicals and Materials segment upon the establishment of Nippon Steel Chemical & Material Co., Ltd. by a merger of Nippon Steel & Sumikin Chemical Co., Ltd. and Nippon Steel & Sumikin Materials Co., Ltd. in October 2018. The segment information for the year ended March 31, 2018 and March 31, 2017 has been reclassified to reflect the change of segments. (2) Basis of measurement of segment revenue, profit or loss, assets, liabilities, and other items Inter-segment revenue is based on transaction prices between third parties. Segment profit for the year ended March 31, 2019 is measured using business profit. Segment profit for the year ended March 31, 2018 and March 31, 2017 is measured using ordinary profit under Japanese GAAP, which is adjusted to business profit on the consolidated statement of profit or loss. (3) Information about segment revenue, segment profit, segment assets and liabilities and other items Year ended March 31, 2019 (Millions of Yen) Reportable segment Subtotal Adjustments Consolidated Steelmaking Engineering Chemicals System Revenue Revenue from external customers 5,408,633 321,346 243,014 204,952 6,177,947 — 6,177,947 Inter-segment revenue or transfers 45,902 35,360 4,052 62,550 147,867 (147,867 ) — Total 5,454,536 356,707 247,067 267,503 6,325,814 (147,867 ) 6,177,947 Segment profit 274,672 9,474 25,095 26,576 335,818 1,122 336,941 Other items Depreciation and amortization 398,702 2,605 6,644 4,872 412,825 (4,208 ) 408,616 Share of profit in investments accounted for using the equity method 76,337 801 1,339 (5 ) 78,473 7,938 86,411 Segment assets 7,404,841 289,083 194,622 231,994 8,120,542 (71,013 ) 8,049,528 Other items Investments accounted for using the equity method 672,853 6,313 23,629 309 703,105 90,041 793,146 Capital expenditure 431,775 3,021 8,855 2,542 446,194 (5,363 ) 440,830 Segment liabilities (Interest-bearing 2,365,587 5,937 7,075 2,631 2,381,231 (12,000 ) 2,369,231 Notes: 1. The adjustments of segment profit of 1,122 million yen include investment return of 8,237 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., and elimination of inter-segment revenue or transfers of (7,114) million yen. 2. The adjustments of segment liabilities include the elimination of the Steelmaking and Steel Fabrication segment’s borrowings from the System Solutions segment. Year ended March 31, 2018 (Millions of Yen) Reportable segment Subtotal Adjustments Total IFRS Consolidated Steelmaking Engineering Chemicals System Revenue Revenue from external customers 4,983,335 260,908 234,108 190,310 5,668,663 — 5,668,663 44,302 5,712,965 Inter-segment revenue or transfers 33,910 33,360 3,709 53,889 124,868 (124,868 ) — — — Total 5,017,245 294,268 237,817 244,200 5,793,531 (124,868 ) 5,668,663 44,302 5,712,965 Segment profit 245,708 9,110 17,399 23,292 295,510 2,030 297,541 (8,840 ) 288,700 Other items Finance income 4,983 180 38 146 5,348 (202 ) 5,146 2,498 7,644 Finance costs 20,080 44 172 11 20,309 (202 ) 20,106 4,477 24,584 Depreciation and amortization 330,393 2,489 7,329 4,646 344,859 (4,140 ) 340,719 25,845 366,565 Share of profit in investments accounted for using the equity method 116,408 378 148 (10 ) 116,925 5,750 122,675 (57,018 ) 65,657 Segment assets 7,003,681 247,696 184,988 223,601 7,659,967 (67,554 ) 7,592,413 163,721 7,756,134 Other items Investments accounted for using the equity method 950,887 4,393 24,843 17 980,142 83,614 1,063,757 (264,517 ) 799,239 Capital expenditure 390,623 6,301 8,497 7,638 413,061 (1,130 ) 411,930 11,497 423,428 Segment liabilities (Interest-bearing debt) 2,057,997 8,313 11,519 3,693 2,081,524 (12,527 ) 2,068,996 88,759 2,157,755 Notes: 1. The adjustments of segment profit of 2,030 million yen include investment return of 5,929 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., and elimination of inter-segment revenue or transfers of (3,899) million yen. 2. The adjustments of segment liabilities include the elimination of the Steelmaking and Steel Fabrication segment’s borrowings from the System Solutions segment. Year ended March 31, 2017 (Millions of Yen) Reportable segment Subtotal Adjustments Total IFRS Consolidated Steelmaking Engineering Chemicals System Revenue Revenue from external customers 4,016,670 234,861 203,115 178,242 4,632,890 — 4,632,890 63,937 4,696,828 Inter-segment 35,590 32,683 5,630 54,270 128,175 (128,175 ) — — — Total 4,052,261 267,545 208,746 232,512 4,761,065 (128,175 ) 4,632,890 63,937 4,696,828 Segment profit 138,017 6,838 6,304 22,113 173,274 1,256 174,531 (4,652 ) 169,878 Other items Finance income 5,566 124 36 133 5,860 (206 ) 5,654 668 6,322 Finance costs 17,831 118 233 28 18,212 (206 ) 18,006 3,579 21,586 Depreciation and amortization 294,008 2,653 8,227 4,174 309,064 (4,313 ) 304,751 26,161 330,912 Share of profit in investments accounted for using the equity method 70,723 655 920 21 72,320 6,859 79,180 (35,062 ) 44,118 Other items Capital expenditure 335,733 5,637 9,229 4,343 354,943 (3,905 ) 351,038 11,486 362,525 Notes: 1. The adjustments of segment profit of 1,256 million yen include investment return of 6,524 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., investment return of 629 million yen from the equity method associate SUMCO Corporation, and elimination of inter-segment revenue or transfers of (5,897) million yen. 2. The adjustments of segment liabilities include the elimination of the Steelmaking and Steel Fabrication segment’s borrowings from the System Solutions segment. (4) Information about geographical areas (a) Revenue Year ended March 31, 2019 (Millions of Yen) Japan Overseas Asia Other Total 4,053,188 2,124,758 1,310,890 813,868 6,177,947 Year ended March 31, 2018 (Millions of Yen) Japan Overseas Asia Other Total 3,729,176 1,983,789 1,274,380 709,409 5,712,965 Year ended March 31, 2017 (Millions of Yen) Japan Overseas Asia Other Total 2,980,400 1,716,427 1,068,459 647,967 4,696,828 Revenue information is based on the geographical location of customers and classified by region. (b) Non-current assets As of March 31, 2019 (Millions of Yen) Japan Overseas Total 2,978,818 435,078 3,413,896 As of March 31, 2018 (Millions of Yen) Japan Overseas Total 2,854,097 418,238 3,272,335 Non-current assets are based on the location of the asset and do not include financial assets, deferred tax assets and assets for retirement benefits. (5) Revenue from major customers (Millions of Yen) Related segment Year ended Year ended Year ended Nippon Steel & Sumikin Bussan Corporation Steelmaking and Steel Fabrication 1,170,241 849,244 744,657 Sumitomo Corporation Steelmaking and Steel Fabrication 762,888 772,942 674,139 Metal One Corporation Steelmaking and Steel Fabrication 631,639 592,146 — |
Business Combinations
Business Combinations | 12 Months Ended |
Mar. 31, 2019 | |
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Business Combinations | 8. Business Combinations Business combinations during the years ended March 31, 2017, 2018 and 2019 are as follows: (1) Business combinations consummated during the year ended March 31, 2019 Ovako AB (a) Overview On June 1, 2018, the Company acquired all outstanding shares of Ovako AB (“Ovako”), which is headquartered in Sweden and is primarily engaged in the manufacturing and sale of special steel products and secondarily processed products mainly in Europe, for cash consideration of 51,767 million yen. With this acquisition, the Company seeks to strengthen the position of the Group as “The Best Steelmaker with World-Leading Capabilities”, thereby aiming to achieve sustainable growth and enhance the Group’s corporate value in the mid-to long-term. With the addition of Ovako, the Group will bring together Ovako’s high-cleanliness steel for bearing steel and other related products to the Company’s product portfolio to strengthen and expand its global special steel business. (b) Consideration transferred (Millions of Yen) Cash 51,767 Total consideration transferred 51,767 The Group incurred acquisition-related costs of ¥1,215 million yen as selling, general and administrative expenses in the consolidated statements of profit and loss. (c) Fair value of the assets acquired and liabilities assumed and goodwill (Millions of Yen) Current assets 63,555 Non-current assets 53,302 Total assets 116,858 Current liabilities 70,691 Non-current liabilities 17,032 Total liabilities 87,724 Total identifiable net assets acquired 29,133 Total equity attributable to owners of the parent 29,133 Total consideration transferred 51,767 Goodwill 22,634 The goodwill is attributable mainly to an excess earning power expected to be achieved from the synergies between the Group and the Ovako. The goodwill is not tax-deductible. (d) Net cash used in the transaction (Millions of Yen) Cash consideration transferred 51,767 Cash and cash equivalents held by the acquiree at the acquisition date (5,961 ) Net cash used in the transaction 45,805 (e) Revenue and profit or loss of the Ovako after the acquisition date Information about revenue and profit or loss generated subsequent to the acquisition date through March 31, 2019 is not disclosed as it is immaterial to the consolidated financial statements. (f) Revenue and profit or loss of the Group if the business combination had been completed at the beginning of the year Information about revenue and profit or loss of the Groups if business combination had been completed at the beginning of the year is not disclosed as it is immaterial to the consolidated financial statements. Sanyo Special Steel Co., Ltd. (a) Overview On March 28, 2019, the Company acquired 36.2% equity interest of Sanyo Special Steel Co., Ltd. (“Sanyo”), which is primarily engaged in the manufacturing and sale of special steel products, powders and formed and fabricated materials through purchase of newly issued shares. As a result of the acquisition, the equity interests held by the Company increased from 15.3% to 51.5% and Sanyo became a subsidiary of the Company. The acquisition of Sanyo and Ovako allows the Company to strengthen its medium-to long-term competitiveness of the special steel businesses by bringing together our business foundations, technical and product development capabilities and cost competitiveness of the three companies to respond to globalization of the customers in the automobile and other fields as well as customer needs for high-quality special steel products. (b) Consideration transferred (Millions of Yen) Cash 67,235 Fair value of equity interests held before the acquisition date 13,737 Total consideration transferred 80,972 The Company recorded a loss of 4,592 million yen as other operating expenses in the consolidated statements of profit or loss as a result from fair value measurement conducted at the acquisition date of the equity interests in Sanyo held prior to the acquisition date. The Group recorded acquisition-related costs of ¥276 million yen as selling, general and administrative expenses in the consolidated statements of profit and loss. (c) Fair value of the assets acquired and liabilities assumed, non-controlling interests and bargain purchase gain The Company has not completed the fair value measurement of acquired assets and assumed liabilities, and accordingly the computation of non-controlling interests, bargain purchase gain and the purchase price allocations are on a provisional basis based on the most current information available. (Millions of Yen) Current assets 210,344 Non-current assets 75,075 Total assets 285,419 Current liabilities 61,789 Non-current liabilities 38,804 Total liabilities 100,593 Total identifiable net assets acquired 184,826 Non-controlling interests 90,274 Total equity attributable to owners of the parent 94,551 Total consideration transferred 80,972 Bargain purchase gain 13,578 Non-controlling interests are measured at the proportionate share of the fair value of the Sanyo’s identifiable total equity. The Group recorded the difference between total equity attributable to the owners of the parent and total consideration transferred in the amount of 13,578 million yen as “Other operating income” in the consolidated statements of profit or loss for the year ended March 31, 2019. (d) Net cash used in the transaction (Millions of Yen) Cash consideration transferred 67,235 Cash and cash equivalents held by the Sanyo at the acquisition date (79,196 ) Net cash provided in the transaction (11,961 ) Cash and cash equivalents held by Sanyo at the acquisition date include the proceeds from equity financing in the amount of 67,235 million yen. (e) Revenue and profit or loss of the Sanyo after the acquisition date Information about revenue and profit or loss generated subsequent to the acquisition date through March 31, 2019 is not disclosed as it is immaterial to the consolidated financial statements. (f) Revenue and profit or loss of the Group if the business combination had been completed at the beginning of the year (Unaudited) (Millions of Yen) Revenue 6,363,765 Profit before income taxes 259,145 (2) Business combinations consummated during the year ended March 31, 2018 No business combinations occurred during the year ended March 31, 2018. (3) Business combinations consummated during the year ended March 31, 2017 (a) Overview On March 13, 2017, the Company acquired 43% equity interest of Nisshin Steel Co., Ltd. (“Nisshin Steel”), which is primarily engaged in the steelmaking and steel fabrication business, for cash consideration. As a result of the acquisition, the equity interests held by the Company increased from 8% to 51% and Nisshin Steel became a subsidiary of the Company. The acquisition was consummated in order for the Company and Nisshin Steel to bring together the respective management resources that they have fostered and create synergies, and thereby enhance competitiveness, and to strengthen the position of the Group as the “Best Steelmaker with World-Leading Capabilities”. With the addition of Nisshin Steel, the Company aims to enhance sustainable growth and corporate value in the mid-to long-term and contribute to the creation and development of a more prosperous society. (b) Consideration transferred (Millions of Yen) Cash 75,972 Fair value of equity interests held before the date of acquisition 14,781 Total consideration transferred 90,753 The Group incurred acquisition-related costs of 627 million yen. (c) Fair value of the assets acquired and liabilities assumed, non-controlling interests and goodwill (Millions of Yen) Current asset 246,040 Non-current assets 423,937 Total assets 669,978 Current liabilities 224,318 Non-current liabilities 259,936 Total liabilities 484,255 Total identifiable net assets acquired 185,722 Non-controlling interests 98,105 Total equity attributable to owners of the parent 87,616 Total consideration transferred 90,753 Goodwill 3,136 Non-controlling interests are measured at the proportionate share of the fair value of the acquiree’s identifiable net assets. The goodwill is attributable mainly to an excess earning power expected to be achieved from the synergies between the Group and the acquiree. The goodwill is not tax-deductible. (d) Net cash used in the transaction (Millions of Yen) Cash consideration transferred 75,972 Cash and cash equivalents held by the Nisshin Steel at the acquisition date (23,079 ) Net cash used in the transaction 52,892 (e) Revenue and net profit or loss of the Nisshin Steel after the acquisition date Information about profit or loss generated subsequent to the acquisition date through March 31, 2018 is not disclosed as it is immaterial to the consolidated financial statements. (f) Revenue and profit or loss of the Group if the business combination had been completed at the beginning of the year (Unaudited) (Millions of Yen) Revenue 5,222,392 Profit before income taxes 199,831 |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Mar. 31, 2019 | |
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Cash and Cash Equivalents | 9. Cash and Cash Equivalents The components of cash and cash equivalents are as follows: (Millions of Yen) As of As of As of Cash 159,636 138,702 119,793 Cash equivalents 3,540 4,166 4,135 Total 163,176 142,869 123,929 |
Trade and Other Receivables
Trade and Other Receivables | 12 Months Ended |
Mar. 31, 2019 | |
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Trade and Other Receivables | 10. Trade and Other Receivables The components of trade and other receivables are as follows: (Millions of Yen) As of As of Notes and accounts receivable 842,573 730,805 Other 128,166 103,336 Allowance for doubtful receivables (2,407 ) (2,101 ) Total 968,333 832,040 Contract assets are included in “Notes and accounts receivables”. |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2019 | |
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Inventories | 11. Inventories The components of inventories are as follows: (Millions of Yen) As of As of Merchandise and finished goods 831,597 701,173 Work in progress 87,814 72,425 Raw materials and supplies 647,704 626,222 Total 1,567,116 1,399,821 |
Assets Pledged as Collateral
Assets Pledged as Collateral | 12 Months Ended |
Mar. 31, 2019 | |
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Assets Pledged as Collateral | 12. Assets Pledged as Collateral As per general contractual provisions for long-term and short-term borrowings, banks may require collateral and guarantees for present and future obligations, and retain the rights to offset the liabilities with bank deposits when repayment is overdue or when default occurs. Assets pledged as collateral and secured debts are as follows: (Millions of Yen) Assets pledged as collateral As of As of Land 11,432 10,855 Buildings and structures 4,853 3,784 Machinery and vehicles 5,471 6,826 Other 13,475 4,907 Total 35,233 26,373 (Millions of Yen) Secured debts As of As of Short-term borrowings 3,635 970 Long-term borrowings (current portion is included) 6,242 5,383 Other 467 447 Total 10,345 6,801 In addition to the pledged assets listed above, shares of associates are pledged as collateral (1,301 million yen, and 1,261 million yen as of March 31, 2019 and 2018, respectively). |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Mar. 31, 2019 | |
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Property, Plant and Equipment | 13. Property, Plant and Equipment Details of changes in the carrying amounts and acquisition costs, accumulated depreciation and accumulated impairment losses of property, plant and equipment are as follows: (Millions of Yen) Carrying amount Land Buildings Machinery Tools, Leased Construction Total As of March 31, 2017 654,349 815,580 1,266,968 48,413 46,783 260,106 3,092,202 Acquisitions and reclassified from construction in progress 1,831 71,336 277,566 24,810 10,401 16,255 402,200 Disposals and sales (2,858 ) (4,081 ) (2,637 ) (621 ) (246 ) (803 ) (11,249 ) Depreciation — (58,469 ) (257,642 ) (19,000 ) (9,486 ) — (344,599 ) Impairment losses (536 ) (5,955 ) (8,344 ) (564 ) — — (15,401 ) Effects of changes in foreign exchange rates (421 ) 868 10,997 189 (627 ) (10,300 ) 705 As of March 31, 2018 652,364 819,277 1,286,908 53,226 46,823 265,258 3,123,857 Acquisitions and reclassified from construction in progress 5,967 78,086 363,975 85,546 7,812 (72,830 ) 468,557 Acquisitions through business combinations 9,653 20,579 56,261 1,082 — 6,755 94,331 Disposals and sales (5,258 ) (3,660 ) (6,037 ) (4,570 ) (131 ) (129 ) (19,788 ) Depreciation — (58,817 ) (272,371 ) (46,659 ) (9,498 ) — (387,347 ) Effects of changes in foreign exchange rates (1,224 ) (190 ) (25,447 ) 719 (38 ) (6,758 ) (32,941 ) As of March 31, 2019 661,502 855,274 1,403,287 89,343 44,967 192,294 3,246,669 Depreciation of property, plant and equipment is mainly included in “Cost of sales” and “Selling, general and administrative expenses” in the consolidated statements of profit or loss. (Millions of Yen) Acquisition costs Land Buildings Machinery Tools, Leased Construction Total As of March 31, 2017 705,539 2,555,698 7,998,199 317,753 277,165 308,196 12,162,552 As of March 31, 2018 701,984 2,607,700 8,215,605 327,419 276,851 313,262 12,442,823 As of March 31, 2019 710,235 2,730,502 8,733,560 407,619 280,382 196,767 13,059,068 (Millions of Yen) Accumulated depreciation and Land Buildings Machinery Tools, Leased Construction Total As of March 31, 2017 51,189 1,740,118 6,731,230 269,340 230,382 48,089 9,070,350 As of March 31, 2018 49,620 1,788,422 6,928,697 274,193 230,027 48,003 9,318,966 As of March 31, 2019 48,733 1,875,228 7,330,272 318,276 235,414 4,473 9,812,398 The carrying amounts by type of leased assets are as follows: (Millions of Yen) Buildings and Machinery and Tools, furniture Total As of March 31, 2017 11,895 31,994 2,893 46,783 As of March 31, 2018 10,748 32,005 4,069 46,823 As of March 31, 2019 10,024 31,701 3,241 44,967 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Mar. 31, 2019 | |
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Goodwill and Intangible Assets | 14. Goodwill and Intangible Assets Details of changes in the carrying amounts and acquisition costs, accumulated amortization and accumulated impairment losses of goodwill and intangible assets are as follows: (Millions of Yen) Carrying amount Goodwill Software Mining rights Other Total As of March 31, 2017 44,563 47,165 44,630 5,878 142,237 Acquisitions — 18,698 — 2,528 21,227 Amortization — (18,443 ) (2,306 ) (1,215 ) (21,965 ) Impairment losses (2,472 ) (139 ) — (61 ) (2,673 ) Effects of changes in foreign exchange rates 173 (1,066 ) 1,898 (434 ) 569 As of March 31, 2018 42,263 46,214 44,221 6,695 139,395 Acquisitions — 19,470 — 807 20,278 Acquisitions through business combinations 22,634 1,891 — 16,333 40,859 Amortization — (17,868 ) (2,198 ) (1,202 ) (21,268 ) Impairment losses (10,963 ) — — — (10,963 ) Effect of changes in foreign exchange rates (1,131 ) (3,079 ) (4,884 ) (272 ) (9,367 ) As of March 31, 2019 52,803 46,629 37,139 22,362 158,934 Amortization of intangible assets is included in “Cost of sales” and “Selling, general and administrative expenses” in the consolidated statements of profit or loss. (Millions of Yen) Acquisition costs Goodwill Software Mining rights Other Total As of March 31, 2017 44,563 87,236 63,304 12,131 207,236 As of March 31, 2018 44,736 97,253 66,107 17,203 225,301 As of March 31, 2019 66,238 115,358 58,617 30,875 271,090 Accumulated amortization and (Millions of Yen) Goodwill Software Mining rights Other Total As of March 31, 2017 — 40,071 18,674 6,252 64,999 As of March 31, 2018 2,472 51,039 21,885 10,507 85,905 As of March 31, 2019 13,435 68,729 21,478 8,512 112,155 |
Interests in Subsidiaries, Asso
Interests in Subsidiaries, Associates and Others | 12 Months Ended |
Mar. 31, 2019 | |
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Interests in Subsidiaries, Associates and Others | 15. Interests in Subsidiaries, Associates and Others (1) Major subsidiaries Major subsidiaries of the Company as of March 31, 2019 are as follows: Operating segment Name Address % of voting Steelmaking and Steel Fabrication Sanyo Special Steel Co., Ltd. Himeji-shi, Hyogo 51.5 % Steelmaking and Steel Fabrication Nisshin Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Coated Sheet Corporation Chuo-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Osaka Steel Co., Ltd. Osaka-shi, Osaka 66.3 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Metal Products Co., Ltd. Koto-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Pipe Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Kurosaki Harima Corporation Kitakyushu-shi, Fukuoka *47.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Texeng Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Stainless Steel Corporation Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Logistics Co., Ltd. Chuo-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin SG Wire Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Geostr Corporation Bunkyo-ku, Tokyo *42.3 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Welding Co., Ltd. Koto-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Drum Co., Ltd. Koto-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Blast Furnace Slag Cement Co., Ltd. Kitakyushu-shi, Fukuoka 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Cement Co., Ltd. Muroran-shi, Hokkaido 85.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Finance Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Stainless Steel Pipe Co., Ltd. Koga-shi, Ibaraki 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Steel Wire Co., Ltd. Seki-shi, Gifu 51.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Eco-Tech Corporation Chuo-ku, Tokyo 85.1 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Bolten Corporation Osaka-shi, Osaka 85.0 % Steelmaking and Steel Fabrication Nippon Steel & SumikinShapes Corporation Wakayama-shi, Wakayama 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Tubos do Brasil Ltda. State of Rio de Janeiro, Brazil 100.0 % Steelmaking and Steel Fabrication NS-Siam United Steel Co., Ltd. Rayong Province, Thailand 80.2 % Steelmaking and Steel Fabrication National Pipe Company Limited Eastern Province, Saudi Arabia 51.0 % Steelmaking and Steel Fabrication Standard Steel, LLC Pennsylvania State, United States of America 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumitomo Metal U.S.A., Inc. New York State, United States of America 100.0 % Steelmaking and Steel Fabrication PT Pelat Timah Nusantara Tbk. Jakarta City, Indonesia *35.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumitomo Metal (Thailand) Co., Ltd. Bangkok Metropolis, Thailand 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumitomo Metal Australia Pty. Limited New South Wales State, Australia 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Steel Processing (Thailand) Co., Ltd. Rayong Province, Thailand 66.5 % Steelmaking and Steel Fabrication Ovako AB Stockholm, Sweden 100.0 % Engineering and Construction Nippon Steel & Sumikin Engineering Co., Ltd. Shinagawa-ku, Tokyo 100.0 % Chemicals & Materials Nippon Steel Chemical & Material Co., Ltd. Chiyoda-ku, Tokyo 100.0 % System Solutions NS Solutions Corporation Chuo-ku, Tokyo 63.4 % * Although the Group holds less than 50% of the voting rights of Geostr Corporation, PT Pelat Timah Nusantara Tbk. and Kurosaki Harima Corporation, it includes the entities in consolidated subsidiaries because it substantially controls the entities. (2) Investments in associates Carrying amount of investments in associates is as follows: (Millions of Yen) As of As of Carrying amount of investments in associates 636,216 654,214 Share of net profit or loss and other comprehensive income of associates is as follows: (Millions of Yen) Year Ended Year Ended Year Ended Net profit or loss 49,436 38,199 29,622 Other comprehensive income (18,610 ) (270 ) 11,379 Total 30,826 37,929 41,002 (3) Investments in joint ventures Carrying amount of investments in joint ventures is as follows: (Millions of Yen) As of As of Carrying amount of investments in joint ventures 156,930 145,025 Share of net profit or loss and other comprehensive income of joint ventures is as follows: (Millions of Yen) Year Ended Year Ended Year Ended Net profit or loss 36,975 27,458 14,495 Other comprehensive income (6,030 ) 2,793 (1,108 ) Total 30,944 30,251 13,386 There are no investments in associates or joint ventures accounted for under the equity method that are individually significant to the Group for the years ended March 31, 2017, 2018 and 2019. |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2019 | |
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Income Taxes | 16. Income Taxes (1) Deferred tax assets and deferred tax liabilities (a) The components of deferred tax assets and deferred tax liabilities are as follows: (Millions of Yen) As of As of Deferred tax assets Accrued bonus 28,189 26,453 Defined benefit liabilities 66,924 48,011 Impairment losses on non-financial assets 17,888 11,637 Property, plant and equipment 21,552 19,482 Unused tax losses 39,280 29,330 Elimination of unrealized gains on property, plant and equipment and others 31,553 29,681 Accrued expenses for demolition and removal of fixed assets 15,024 13,807 Other 48,820 39,367 Total deferred tax assets 269,234 217,772 Deferred tax liabilities Equity securities (108,609 ) (151,451 ) Defined benefit assets (25,167 ) (33,357 ) Undistributed earnings (31,570 ) (30,904 ) Special tax purpose reserves (43,782 ) (62,466 ) Total deferred tax liabilities (209,130 ) (278,179 ) Net deferred tax assets (liabilities) 60,104 (60,407 ) (b) The changes in net deferred tax assets and liabilities are as follows: (Millions of Yen) Year Ended Year Ended Balance at beginning of the year (60,407 ) (38,993 ) Recognized in profit or loss 88,108 19,575 Recognized in other comprehensive income 37,761 (41,003 ) Effect of changes in consolidation scope (5,268 ) 14 Balance at end of the year 60,104 (60,407 ) (c) Deductible temporary differences and unused tax losses for which no deferred tax assets are recognized are as follows: (Millions of Yen) As of As of Carryforward of unused tax losses 51,390 87,225 Deductible temporary differences 111,242 131,854 Total 162,633 219,080 (d) The components by expiry date of unused tax losses for which no deferred tax assets are recognized are as follows: (Millions of Yen) As of As of Within 1 year 3,009 30,935 Over 2 years but less than 3 years 5,209 7,774 Over 3 years but less than 4 years 10,640 11,426 Over 4 years but less than 5 years 1,247 17,003 Over 5 years 31,283 20,085 Total 51,390 87,225 (2) Income tax expense (a) Details of income tax expense are as follows: (Millions of Yen) Year Ended Year Ended Year Ended Current taxes 79,209 79,124 49,526 Deferred taxes (88,018 ) (19,575 ) (9,229 ) Total (8,809 ) 59,549 40,297 The Tax Cut and Jobs Act was enacted on December 22, 2017 and the federal corporate income tax rate applicable to the Company’s subsidiaries in the US was reduced from 35% to 21%. As a result of the reduction, deferred tax for the year ended March 31, 2018 decreased by 6,253 million yen. (b) Differences between the statutory income tax rate and the Group’s average effective tax rate consist of the following: Year Ended Year Ended Year Ended Statutory tax rate 30.6 % 30.9 % 30.9 % Share of profit in investments accounted for using the equity method (7.3 ) (4.8 ) (4.5 ) Effects of expense not deductible for tax purposes 0.9 0.9 1.1 Effects of income not taxable for tax purposes (0.6 ) (0.6 ) (1.0 ) Effects of differences in statutory tax rates applied to companies in Japan and foreign companies (1.8 ) (2.3 ) (2.0 ) Effects of changes in unrecognized deferred tax assets (24.0 ) (4.0 ) (8.1 ) Other (1.4 ) 1.9 4.3 Average effective tax rate (3.5 ) 21.9 20.7 |
Trade and Other Payables
Trade and Other Payables | 12 Months Ended |
Mar. 31, 2019 | |
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Trade and Other Payables | 17. Trade and Other Payables The components of trade and other payables are as follows: (Millions of Yen) As of As of Notes and trade accounts payable 821,009 782,605 Other payables 524,167 474,903 Other 266,226 323,087 Total 1,611,403 1,580,597 |
Bonds, Borrowings and Lease Lia
Bonds, Borrowings and Lease Liabilities | 12 Months Ended |
Mar. 31, 2019 | |
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Bonds, Borrowings and Lease Liabilities | 18. Bonds, Borrowings and Lease Liabilities (1) Bonds, borrowings and lease liabilities Details of bonds, borrowings and lease liabilities are as follows: (Millions of Yen) As of Average As of Average Maturity date Short-term borrowings 215,393 1.2 137,323 1.0 — Current portion of long-term borrowings repayable within one year 111,177 1.0 184,809 1.0 — Current portion of bonds repayable within one year 60,000 1.4 85,700 1.5 — Current portion of lease liabilities repayable within one year 8,783 0.8 8,550 0.8 — Commercial papers 120,000 (0.0 ) 89,000 (0.0 ) — Long-term borrowings 1,595,905 0.8 1,401,156 0.8 July 19, 2075 Bonds 220,000 0.7 209,996 1.0 September 19, 2031 Lease liabilities 37,970 0.8 41,218 0.8 March 31, 2076 Total 2,369,231 2,157,755 “Average interest rate” represents the weighted average interest rate to the aggregate balance at the end of the reporting period. (2) Details of bonds (Millions of Yen) Type Issue date As of As of Maturity date Bonds issued by NSC Japanese Yen Corporate Bonds Maturity 2019 February 15, 1999 — 696 February 15, 2019 The 58 th September 2, 2008 — 30,000 June 20, 2018 The 59 th September 2, 2008 10,000 10,000 June 20, 2028 The 61 st December 2, 2008 — 15,000 September 20, 2018 The 63 rd June 9, 2009 20,000 20,000 June 20, 2019 The 64 th April 20, 2010 20,000 20,000 March 19, 2020 The 65 th August 31, 2010 15,000 15,000 June 19, 2020 The 67 th May 24, 2011 30,000 30,000 March 19, 2021 The 65 th May 31, 2011 — 10,000 May 31, 2018 The 68 th October 20, 2011 15,000 15,000 September 17, 2021 The 68 th October 20, 2011 — 10,000 October 19, 2018 The 70 th April 20, 2012 10,000 10,000 April 19, 2019 The 69 th July 20, 2012 10,000 10,000 June 20, 2019 The 70 th July 20, 2012 20,000 20,000 June 20, 2022 The 1 st September 26, 2016 10,000 10,000 September 18, 2026 The 2 nd September 26, 2016 10,000 10,000 September 19, 2031 The 3 rd May 25, 2017 10,000 10,000 May 20, 2024 The 4 th May 25, 2017 10,000 10,000 May 20, 2027 The 5 th December 8, 2017 10,000 10,000 December 20, 2024 The 6 th December 8, 2017 10,000 10,000 December 20, 2027 The 7 th June 12, 2018 20,000 — June 20, 2023 The 8 th June 12, 2018 20,000 — June 20, 2025 The 9 th June 12, 2018 20,000 — June 20, 2028 Bonds issued by Nisshin Steel The 19 th June 2, 2008 — 10,000 June 1, 2018 The 23 rd March 10, 2014 — 10,000 March 8, 2019 Bonds issued by Sanyo Special Steel The 2nd Issue of Unsecured Corporate Bonds December 7, 2017 10,000 — December 6, 2024 Total 280,000 295,696 (3) Reconciliation of changes in liabilities in cash flows from financing activities The table below presents a reconciliation of main changes in liabilities arising from financing activities. (Millions of Yen) Short-term Commercial Long-term Bonds Lease Total As of March 31, 2017 142,769 31,854 1,595,610 396,005 48,688 2,214,928 Cash flows from financing activities (7,114 ) 57,140 2,672 (100,000 ) (12,377 ) (59,677 ) Effects of changes in consolidation scope 1,331 — 1,435 — (7 ) 2,759 Effects of changes in foreign exchange rates 276 4 (10,865 ) — 196 (10,387 ) Other 60 — (2,886 ) (309 ) 13,267 10,132 As of March 31, 2018 137,323 89,000 1,585,966 295,696 49,768 2,157,755 Cash flows from financing activities 44,401 23,000 102,850 (25,700 ) (9,792 ) 134,760 Effects of changes in consolidation scope 35,073 8,000 20,872 10,000 (65 ) 73,880 Effects of changes in foreign exchange rates (1,220 ) — (2,013 ) — (43 ) (3,277 ) Other (184 ) — (593 ) 3 6,886 6,112 As of March 31, 2019 215,393 120,000 1,707,083 280,000 46,754 2,369,231 |
Leases
Leases | 12 Months Ended |
Mar. 31, 2019 | |
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Leases | 19. Leases The Group leases assets such as machinery as a lessee and land and buildings as a lessor. (1) Finance leases As a lessee Future minimum lease payments under finance lease contracts are as follows: (Millions of Yen) Year ended Year ended Within 1year 8,783 8,550 Over 1 but less than 5 years 21,034 22,582 Over 5 years 16,936 18,635 Total 46,754 49,768 There is no significant difference between the total future minimum lease payments and the present value of total future minimum lease payments as of March 31, 2018 and 2019. (2) Operating leases As a lessee The future minimum lease payments under non-cancellable operating lease contracts are as follows: (Millions of Yen) Year ended Year ended Within 1 year 11,371 9,965 Over 1 but less than 5 years 29,434 31,624 Over 5 years 4,994 6,638 Total 45,800 48,228 Operating lease expenses under non-cancellable operating lease contracts recognized during the years ended March 31, 2019 and 2018 amounted to 10,356 million yen and 9,597 million yen, respectively. As a lessor The future lease payments expected to be received under non-cancellable operating lease contracts are as follows: (Millions of Yen) Year ended Year ended Within 1 year 2,314 1,906 Over 1 but less than 5 years 8,326 6,549 Over 5 years 21,712 7,654 Total 32,353 16,110 |
Employee Benefits
Employee Benefits | 12 Months Ended |
Mar. 31, 2019 | |
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Employee Benefits | 20. Employee Benefits (1) Overview of retirement benefit plans The retirement benefit plans that the Group offers to its employees include lump-sum retirement payment plans, defined benefit plans, and defined contribution plans. Under the lump-sum retirement payment plans, the Group makes lump-sum payments to eligible employees upon their retirement. The amount of benefits under these plans is determined mainly based on the employee’s base salary and years of service at retirement. The Group also has defined benefit plans that are corporate pension plans in compliance with the Defined-Benefit Corporate Pension Act of Japan and provides benefit payments to eligible employees over a certain period of time after retirement. The amount of benefits under these plans is determined mainly based on the employee’s base salary and years of service at retirement. The management of plan assets for defined benefit plans aims to maximize the value of the plan assets within an acceptable level of risk in order to ensure stable future pension benefit payments to the plan participants and qualified beneficiaries. Specifically, the plan establishes a medium and long-term investment portfolio taking into consideration of the characteristics of the plan assets and pension obligations. This investment portfolio is reviewed periodically and adjusted for changes in the market environment and funding position since initial assumptions has been set out. Under the defined contribution plans, the responsibility of the Company and its subsidiaries is limited to contributions based on the amount determined in the retirement benefits policies of each participating company. (2) Reconciliation of the present value of the defined benefit obligations The changes in the present value of the defined benefit obligations for the Group are as follows: (Millions of Yen) Year ended Year ended Balance at beginning of the year 619,280 650,749 Current service cost 34,137 34,168 Interest cost 2,610 2,591 Actuarial gains and losses 6,183 296 Past service cost (54 ) (5,700 ) Benefits paid (48,542 ) (55,624 ) Other 17,137 (7,199 ) Balance at end of the year 630,754 619,280 The weighted average duration of the defined benefit obligations for the years ended March 31, 2019 and 2018 is 11.9 years and 11.5 years, respectively. (3) Reconciliation of the fair value of the plan assets The changes in the fair value of the plan assets for the Group are as follows: (Millions of Yen) Year ended Year ended Balance at beginning of the year 554,671 545,072 Interest income 2,986 2,788 Return on plan assets, excluding interest income (457 ) 29,550 Employer contributions 13,903 13,765 Benefits paid (29,682 ) (34,637 ) Other (15,174 ) (1,866 ) Balance at end of the year 526,246 554,671 The Group expects to contribute 12,461 million yen to the defined benefit plans for the year ending March 31, 2020. (4) The components of the fair value of plan assets by asset category The components of the fair value of plan assets by asset category are as follows: (Millions of Yen) As of As of With quoted With no With quoted With no Bonds 80,469 — 83,441 — Equity investments 208,456 — 249,400 — Cash and cash equivalents 43,857 — 32,799 — General accounts at life insurance company — 126,547 — 123,396 Other — 66,915 — 65,633 Total 332,783 193,463 365,641 189,030 (5) Significant actuarial assumptions The significant actuarial assumptions used to determine the present value of defined benefit obligations for the Company are as follows: As of As of Discount rate 0.3 % 0.3 % (6) Sensitivity analysis The effects on defined benefit obligations of increase in the discount rates are as follows: (Millions of Yen) Year ended Year ended Effects of incremental increase in discount rate by 0.5% 33,151 million yen 32,049 million yen The sensitivity analysis assumes that other assumptions remain unchanged. (7) Defined contribution plans The amounts recognized as expenses for defined contribution plans are 6,557 million yen, 5,008 million yen and 4,926 million yen for the years ended March 31, 2019, 2018 and 2017, respectively. (8) Employee benefits expenses The Group incurred employee benefits expenses of 869,640 million yen, 831,273 million yen and 753,712 million yen for the years ended March 31, 2019, 2018 and 2017, respectively. These expenses are included in “Cost of sales” and “Selling, general and administrative expenses” in the consolidated statements of profit or loss. Salary, bonus, statutory health and welfare benefits and retirement benefits expenses are included in employee benefits expenses. |
Equity and Other Equity Items
Equity and Other Equity Items | 12 Months Ended |
Mar. 31, 2019 | |
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Equity and Other Equity Items | 21. Equity and Other Equity Items (1) Common stock and reserves The total number of shares authorized to be issued and shares outstanding are as follows: Number of shares Number of shares As of March 31, 2017 2,000,000 950,321 Changes — — As of March 31, 2018 2,000,000 950,321 Changes — — As of March 31, 2019 2,000,000 950,321 All the shares authorized to be issued and shares outstanding are without par value. Capital surplus Capital surplus comprises of amounts generated through capital transactions that are not recorded in common stock, and its primary component is capital reserves. The Companies Act of Japan stipulates that one-half or more of the proceeds from issuance of shares should be incorporated in common stock, and that the remainder shall be incorporated in capital reserve included in capital surplus. The act stipulates that the capital reserve may be incorporated in common stock upon resolution at the general meeting of shareholders. Retained earnings Retained earnings consist of legal reserves and accumulated earnings. The Companies Act of Japan provides that one-tenth of cash dividends be appropriated as capital reserve or legal reserve at the date of distribution until the total amount of these reserves equals one-fourth of common stock. Legal reserve may be utilized to cover capital losses upon resolution at the general meeting of shareholders. (2) Treasury stock The total number of treasury stock held by the Group is as follows: Number of shares As of March 31, 2017 67,674 Changes 36 As of March 31, 2018 67,710 Changes (37,912 ) As of March 31, 2019 29,797 The Company used 38,161 thousand shares of the treasury stock to acquire shares of Nisshin Steel through the share exchange on January 1, 2019. |
Dividends
Dividends | 12 Months Ended |
Mar. 31, 2019 | |
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Dividends | 22. Dividends The dividends paid by the Company are as follows: Year ended March 31, 2019 (1) Dividends paid Date of resolution Class of share Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 26, 2018 Ordinary shares 35,355 40 March 31, 2018 June 27, 2018 Board of directors meeting held on November 2, 2018 Ordinary shares 35,355 40 September 30, 2018 December 3, 2018 (2) Dividends that belong to the current consolidated reporting year but become effective in the subsequent consolidated reporting year Date of resolution Class of share Source of Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 25, 2019 Ordinary shares Retained 36,880 40 March 31, 2019 June 26, 2019 Year ended March 31, 2018 (1) Dividends paid Date of resolution Class of share Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 27, 2017 Ordinary shares 39,776 45 March 31, 2017 June 28, 2017 Board of directors meeting held on October 27, 2017 Ordinary shares 26,517 30 September 30, 2017 November 30, 2017 (2) Dividends that belong to the current consolidated reporting year but become effective in the subsequent consolidated reporting year Date of resolution Class of share Source of Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 26, 2018 Ordinary shares Retained 35,355 40 March 31, 2018 June 27, 2018 Year ended March 31, 2017 (3) Dividends paid Date of resolution Class of share Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 24, 2016 Ordinary shares 13,554 15 March 31, 2016 June 27, 2016 (4) Dividends that belong to the current consolidated reporting year but become effective in the subsequent consolidated reporting year Date of resolution Class of share Source of Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 27, 2017 Ordinary shares Retained 39,776 45 March 31, 2017 June 28, 2017 |
Revenue
Revenue | 12 Months Ended |
Mar. 31, 2019 | |
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Revenue | 23. Revenue (1) Disaggregation of revenue Disaggregation of revenue from contracts with customers and its relationship with segment revenue are as follows. Year ended March 31, 2019 (Millions of Yen) Steelmaking Engineering Chemicals System Consolidated Japan 3,431,461 264,674 155,184 201,868 4,053,188 Asia 1,194,440 34,746 78,872 2,831 1,310,890 Middle East 113,180 2 319 — 113,502 Europe 142,335 20,645 4,426 66 167,473 North America 279,575 997 4,055 151 284,779 Central and South America 188,473 279 156 34 188,944 Africa 46,202 — 0 — 46,202 Pacific 12,963 — 0 — 12,964 Total 5,408,633 321,346 243,014 204,952 6,177,947 Revenue is classified based on the geographic location of customers and presented at the amount less adjustment of inter-segment transactions. (2) Contract balances (Millions of Yen) At beginning of the year As of Receivables 685,761 774,803 Contract assets 45,044 67,769 Contract liabilities 22,936 28,488 Receivables and contract assets are included in “Trade and Other Receivables” in the consolidated statement of financial position. Contract liabilities are included in “Other current liabilities” in the consolidated statement of financial position. The amount included in the contract liabilities as of April 1, 2018 and recognized as revenue for the year ended March 31, 2019 amounted to 20,099 million yen. The amount recognized as revenue for the year ended March 31, 2019 from performance obligations satisfied in previous periods is immaterial. (3) Transaction price allocated to the remaining performance obligation (Millions of Yen) As of March 31, 2019 Engineering and System Solutions Within 1 year 259,610 184,782 74,828 Over 1 year 202,262 170,569 31,693 Total 461,872 355,351 106,521 The above is included transaction price allocated to the remaining performance obligation whose original expected duration of performance obligation is one year or less and is presented at the amount less adjustment of inter-segment transactions. The Group applied the practical expedient and does not disclose the information with respect to Steelmaking and Steel Fabrication segments and Chemicals and Materials segments as original expected duration of performance obligation is mostly one year or less. (4) Assets recognized from the costs to obtain or fulfill a contract with a customer The Group’s incremental costs of obtaining a contract and costs to fulfill a contract with customer required to be recognized as assets are immaterial. |
Selling, General and Administra
Selling, General and Administration Expenses | 12 Months Ended |
Mar. 31, 2019 | |
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Selling, General and Administration Expenses | 24. Selling, General and Administration Expenses The components of selling, general and administrative expenses are as follows: (Millions of Yen) Year ended Year ended Year ended Transportation and storage 161,091 141,873 112,637 Salaries and bonuses 141,390 137,687 122,184 Retirement benefit costs 8,713 7,336 5,897 Research and development costs 58,621 61,019 54,912 Depreciation and amortization 8,693 10,064 7,138 Other 189,901 175,804 163,584 Total 568,409 533,787 466,351 |
Research and Development Costs
Research and Development Costs | 12 Months Ended |
Mar. 31, 2019 | |
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Research and Development Costs | 25. Research and Development Costs The total amounts of research and development costs included in “Cost of sales” and “Selling, general and administrative expenses” are as follows: (Millions of Yen) Year ended Year ended Year ended Research and development costs 72,043 74,071 70,100 |
Other Operating Income and Othe
Other Operating Income and Other Operating Expenses | 12 Months Ended |
Mar. 31, 2019 | |
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Other Operating Income and Other Operating Expenses | 26. Other Operating Income and Other Operating Expenses The components of “Other operating income” and “Other operating expenses” are as follows: (1) Other operating income (Millions of Yen) Year ended Year ended Year ended Dividends received 20,156 17,832 15,005 Foreign exchanges gains (net) 6,152 — — Other 76,296 73,689 47,102 Total 102,606 91,521 62,108 Dividend income is generated mainly from financial assets measured at fair value through other comprehensive income. (2) Other operating expenses (Millions of Yen) Year ended Year ended Year ended Foreign exchanges losses (net) — 3,976 9,310 Impairment losses — 18,075 — Losses on disposal of fixed assets 27,665 30,540 32,322 Other 42,455 46,181 39,539 Total 70,120 98,773 81,171 |
Losses on natural disaster
Losses on natural disaster | 12 Months Ended |
Mar. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Losses on natural disaster | 27. Losses on natural disaster Losses related to weather related natural disasters were incurred during the year ended March 31, 2019. The nature of the losses represent costs on restoration, disposal of machinery and other related costs which amounted to 22,349 million yen. |
Gains or losses from reorganiza
Gains or losses from reorganization | 12 Months Ended |
Mar. 31, 2019 | |
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Gains or losses from reorganization | 28. Gains or losses from reorganization As part of its strategic initiative, the Company has realigned resource allocation to certain of its business and has incurred losses from reorganization. The reorganization losses are principally divided into impairment losses of 16,882 million yen, losses on withdrawal from businesses of 17,443 million yen and losses incurred to withdraw inactive facilities and other losses of 15,154 million yen for the year ended March 31, 2019. Impairment losses relate to goodwill and impairment of equity method investments due to changes in recoverable amounts as a result of reorganization of business activities. Refer to Note 30 “Impairment of Assets” for further discussion. Losses on withdrawal from businesses mainly consist of losses related to the pending withdrawal from large casting and forgings business operated by Japan Casting & Forging Corporation, an affiliate in the Steelmaking and Steel Fabrication segment, due to unfavorable business environment. Losses incurred to withdraw inactive facilities and others losses mainly consist of the termination and demolition losses of blast furnace of Wakayama Works which was replaced by a new facility in February 2019. Majority of the gains from reorganization for the year ended March 31, 2017 resulted from gain from the partial sale of shares of SUMCO Corporation, which was offset by losses from reorganization of Butt-welding Fittings Business of Nippon Steel & Sumikin Kikoh Company, Ltd., in the Steelmaking and Steel Fabrication segment. |
Finance Income and Finance Cost
Finance Income and Finance Costs | 12 Months Ended |
Mar. 31, 2019 | |
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Finance Income and Finance Costs | 29. Finance Income and Finance Costs The components of “Finance income” and “Finance costs” are as follows: (1) Finance income (Millions of Yen) Year ended Year ended Year ended Interest income 6,028 5,710 6,241 Other 76 1,933 81 Total 6,104 7,644 6,322 Interest income is generated mainly from financial assets measured at amortized cost. (2) Finance costs (Millions of Yen) Year ended Year ended Year ended Interest expense 19,133 21,339 19,292 Other 3,311 3,245 2,293 Total 22,445 24,584 21,586 Interest expense is generated mainly from financial liabilities measured at amortized cost. |
Impairment of Assets
Impairment of Assets | 12 Months Ended |
Mar. 31, 2019 | |
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Impairment of Assets | 30. Impairment of Assets (1) Impairment losses Year ended March 31, 2019 (Millions of Yen) Steelmaking and Engineering and Chemicals and System Solutions Adjustments Total 11,909 4,972 — — — 16,882 Impairment losses in the Steelmaking and Steel Fabrication segment were recognized mainly due to strategic realignments of its businesses in order to address unfavorable business environment. This includes the impairment loss of 5,990 million yen related to goodwill of a subsidiary which is in a business of manufacturing and distribution of railway wheels and axles in the U.S. This impairment loss was recognized due to the decision to reorganize the operation of certain business in the U.S. in the Steelmaking and Steel Fabrication segment. The recoverable amount of related assets was calculated based on the fair value less costs of disposal which was determined using the market approach and was categorized within Level 3 of the fair value hierarchy. Impairment loss of 5,919 million yen related to the investment accounted for using the equity method held by a subsidiary which operates mining business in Australia was recognized as a result of re-review of its investment plan. The recoverable amount related to this investment is calculated based on value-in-use using the discounted cash flow method with the pre-tax discounted rate of 8.0%. Impairment loss in the Engineering and Construction segment are recognized mainly due to unfavorable business environment. This goodwill related impairment loss was incurred by a subsidiary which operates environmental plant business in Europe. The recoverable amount of related assets was calculated based on value-in-use by using the discounted cash flow method with the pre-tax discounted rate of 8.0%. Year ended March 31, 2018 (Millions of Yen) Steelmaking and Engineering and Chemicals and System Solutions Adjustments Total 9,932 2,472 3,334 2,570 (234 ) 18,075 Impairment losses in the Steelmaking and Steel Fabrication segment are recognized mainly due to unfavorable business environment. This includes the impairment losses of 8,505 million yen recognized with respect to the operating assets held by a subsidiary in the U.S. which operates pipe business and the carrying amount of related assets was reduced to the recoverable amount of zero. The recoverable amount of related assets is calculated based on value-in-use using the discounted cash flow method. Impairment losses in the Engineering and Construction segment are recognized due to unfavorable business environment. This is arisen from the reduction in the carrying amount of goodwill acquired in business combinations of a subsidiary which operates environmental plant engineering business in Europe. The recoverable amount of related assets is calculated based on value-in-use using the discounted cash flow method with the pre-tax discounted rate of 8.0%. Impairment losses in the Chemicals and Materials segment are recognized due to unfavorable business environment. This is arisen from the reduction in the carrying amount of the operating assets held by a subsidiary which operates coal chemicals business in China. Impairment losses in the System Solutions segment are recognized by assessing the forecast of future earnings with respect to a part of data center assets. The recoverable amount of related assets is calculated based on the fair value less costs of disposal which is mainly based on real estate appraisals and was categorized within Level 3 of the fair value hierarchy. Year ended March 31, 2017 There are no material impairment losses occurred in the year ended March 31, 2017. (2) Impairment test of goodwill The breakdown of the carrying amount of goodwill by segment is as follows: (Millions of Yen) Operating segment As of As of Steelmaking and Steel Fabrication 44,477 28,596 Engineering and Construction 3,300 8,641 Chemicals and Materials — — System Solutions 5,025 5,025 Total 52,803 42,263 The recoverable amount of the cash-generating units to which the goodwill is allocated is calculated based on value-in-use or the fair value less costs of disposal. In measuring value in use, past experience and external evidence are reflected and the estimated future cash flows are discounted to the present value. The future cash flows are estimated based on a business plan approved by management, which covers a maximum period of five years, and a growth rate for the subsequent years. The discount rate is calculated based on the weighted average cost of capital of each cash-generating unit which is the pre-tax discounted rate of principally 8.0%. |
Other Comprehensive Income
Other Comprehensive Income | 12 Months Ended |
Mar. 31, 2019 | |
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Other Comprehensive Income | 31. Other Comprehensive Income The components of other comprehensive income are as follows: Year ended March 31, 2019 (Millions of Yen) Incurred during Reclassification Before tax Tax effect After tax Items that cannot be reclassified to profit or loss Changes in fair value of financial assets measured at fair value through other comprehensive income (138,361 ) — (138,361 ) 33,804 (104,557 ) Remeasurements of defined benefit assets (6,641 ) — (6,641 ) 3,109 (3,531 ) Share of other comprehensive income of investments accounted for using the equity method (2,953 ) — (2,953 ) — (2,953 ) Subtotal (147,956 ) — (147,956 ) 36,913 (111,042 ) Items that might be reclassified to profit or loss Changes in fair value of cash flow hedges 6,155 (4,234 ) 1,921 (398 ) 1,522 Foreign exchange differences on translation of foreign operations (42,391 ) (111 ) (42,502 ) 1,246 (41,256 ) Share of other comprehensive income of investments accounted for using the equity method (21,750 ) 62 (21,687 ) — (21,687 ) Subtotal (57,985 ) (4,283 ) (62,269 ) 847 (61,421 ) Total (205,942 ) (4,283 ) (210,225 ) 37,761 (172,464 ) “Incurred during the year” and “Reclassification” in shares of other comprehensive income of investments accounted for using the equity method are stated with the amount after tax effect. Year ended March 31, 2018 (Millions of Yen) Incurred during Reclassification Before tax Tax effect After tax Items that cannot be reclassified to profit or loss Changes in fair value of financial assets measured at fair value through other comprehensive income 94,274 — 94,274 (29,051 ) 65,222 Remeasurements of defined benefit assets 29,253 — 29,253 (9,831 ) 19,422 Share of other comprehensive income of investments accounted for using the equity method 5,125 — 5,125 — 5,125 Subtotal 128,653 — 128,653 (38,883 ) 89,770 Items that might be reclassified to profit or loss Changes in fair value of cash flow hedges (2,351 ) 4,678 2,326 (538 ) 1,788 Foreign exchange differences on translation of foreign operations 12,390 (215 ) 12,174 (1,582 ) 10,592 Share of other comprehensive income of investments accounted for using the equity method (2,488 ) (113 ) (2,602 ) — (2,602 ) Subtotal 7,550 4,349 11,899 (2,120 ) 9,778 Total 136,203 4,349 140,552 (41,003 ) 99,548 “Incurred during the year” and “Reclassification” in shares of other comprehensive income of investments accounted for using the equity method are stated with the amount after tax effect. Year ended March 31, 2017 (Millions of Yen) Incurred during Reclassification Before tax Tax effect After tax Items that cannot be reclassified to profit or loss Changes in fair value of financial assets measured at fair value through other comprehensive income 119,533 — 119,533 (33,263 ) 86,269 Remeasurements of defined benefit assets 33,791 — 33,791 (9,727 ) 24,063 Share of other comprehensive income of investments accounted for using the equity method 406 — 406 — 406 Subtotal 153,732 — 153,732 (42,991 ) 110,740 Items that might be reclassified to profit or loss Changes in fair value of cash flow hedges 5,404 8,533 13,937 (4,485 ) 9,452 Foreign exchange differences on translation of foreign operations (28,332 ) 2,551 (25,781 ) 702 (25,079 ) Share of other comprehensive income of investments accounted for using the equity method 8,008 1,854 9,863 — 9,863 Subtotal (14,919 ) 12,939 (1,980 ) (3,782 ) (5,763 ) Total 138,812 12,939 151,751 (46,774 ) 104,977 “Incurred during the year” and “Reclassification” in shares of other comprehensive income of investments accounted for using the equity method are stated with the amount after tax effect. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Earnings per Share | 32. Earnings per Share Profit for the year attributable to common shares of the parent is as follows: (Millions of Yen) Year ended Year ended Year ended Profit for the year attributable to owners of the parent 251,169 180,832 137,246 Profit for the year not attributable to ordinary equity holders of the parent — — — Profit for the year used to calculate basic earnings per share 251,169 180,832 137,246 Diluted earnings per share is not presented as there are no potential dilutive shares. The weighted average number of ordinary shares outstanding is as follows: (Shares) Year ended Year ended Year ended Weighted average number of ordinary shares outstanding 891,387,729 882,629,157 884,959,677 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Financial Instruments | 33. Financial Instruments (1) Capital management Under the presumption that a certain level of financial stability is maintained, the Group has capital management policies which emphasize operational efficiency of invested capital, maximize corporate value by utilizing funds in investments (including investments in capital expenditure, research and development and M&A) which are expected to generate revenue which exceeds the cost of capital to enable sustainable growth and, at the same time, meet the demands of shareholders by providing returns to shareholders based on profits. The necessary funds to achieve this are primarily provided through cash flows from operating activities which are generated from maintaining and enhancing the Group’s earnings power, and the Group raises funds through borrowings from banks and the issuance of corporate bonds, as necessary. The Group identifies Return on Equity (“ROE”) and Debt Equity Ratio (“D/E ratio”) as key management indicators to achieve medium and long-term profit growth and stability of the financial base. ROE is calculated by dividing profit for the year attributable to owners of the parent by the equity attributable to owners of the parent. D/E ratio is calculated by dividing interest-bearing debts by the equity attributable to owners of the parent. As of As of ROE (%) 7.9 6.0 D/E Ratio (times) 0.73 0.69 There are no significant capital regulations which are applied to the Company. (2) Classification of financial instruments (a) Valuation techniques used to measure the fair value for the financial instruments with a carrying amount measured at fair value (i) Equity instruments The fair value of marketable equity instruments is measured using quoted market prices at the end of the reporting period. The fair value of non-marketable equity instruments is estimated using appropriate valuation techniques, such as the market approach. (ii) Derivatives The fair value of derivatives is measured with reference to prices provided by the counterparty and forward exchange rates. (b) Classification by levels in the fair value hierarchy The fair value hierarchy of financial instruments is classified from Level 1 to Level 3 as follows: Level 1: Fair value measured with quoted prices in active markets for identical assets or liabilities, Level 2: Fair value measured using inputs that are directly or indirectly observable for assets or liabilities other than those in Level 1, Level 3: Fair value measured using inputs that are not based on observable market data for assets or liabilities. (c) Method to measure the changes in fair value FVPL: Method of measuring changes in fair value through profit or loss FVOCI: Method of measuring changes in fair value through other comprehensive income (d) Carrying amounts of financial instruments by classification The carrying amounts of financial instruments by classification as of March 31, 2019 and 2018 are as follows: As of March 31, 2019 Financial assets (Millions of Yen) Carrying amount Amortized cost Fair value Total FVPL FVOCI Current assets Cash and cash equivalents 163,176 — — 163,176 Trade and other receivables 900,563 — — 900,563 Other financial assets 12,844 590 3,480 16,915 Derivatives — 590 3,480 4,071 Debt instruments 12,844 — — 12,844 Non-current assets Other financial assets 84,211 — 728,456 812,668 Equity instruments — — 718,470 718,470 Derivatives — — 9,985 9,985 Debt instruments 84,211 — — 84,211 Derivatives included in FVOCI represent the effective portion of hedging instruments designated in cash flow hedge. The carrying amount of “trade and other receivables” in the table above does not include the assets recognized in accordance with IFRS 15 which amounts to 67,769 million yen. Financial liabilities (Millions of Yen) Carrying amount Amortized cost Fair value Total FVPL FVOCI Current liabilities Trade and other payables 1,611,403 — — 1,611,403 Bonds and borrowings 506,571 — — 506,571 Other financial liabilities Derivatives — 258 758 1,017 Non-current liabilities Bonds and borrowings 1,815,905 — — 1,815,905 Other financial liabilities Derivatives — — 6,501 6,501 Other non-current liabilities 142,149 — — 142,149 Derivatives included in FVOCI represent the effective portion of hedging instruments designated in cash flow hedge. The carrying amount of “other non-current liabilities” in the table above does not include the liabilities recognized in accordance with IAS 19 which amounts to 24,085 million yen. As of March 31, 2018 Financial assets (Millions of Yen) Carrying amount Amortized cost Fair value Total FVPL FVOCI Current assets Cash and cash equivalents 142,869 — — 142,869 Trade and other receivables 832,040 — — 832,040 Other financial assets 12,351 61 6,765 19,178 Derivatives — 61 6,765 6,827 Debt instruments 12,351 — — 12,351 Non-current assets Other financial assets 74,538 — 933,088 1,007,627 Equity instruments — — 926,465 926,465 Derivatives — — 6,623 6,623 Debt instruments 74,538 — — 74,538 Derivatives included in FVOCI represent the effective portion of hedging instruments designated in cash flow hedge. Financial liabilities (Millions of Yen) Carrying amount Amortized cost Fair value Total FVPL FVOCI Current liabilities Trade and other payables 1,580,597 — — 1,580,597 Bonds and borrowings 496,833 — — 496,833 Other financial liabilities Derivatives — 329 344 674 Non-current liabilities Bonds and borrowings 1,611,153 — — 1,611,153 Other financial liabilities Derivatives — — 6,572 6,572 Other non-current liabilities 120,156 — — 120,156 Derivatives included in FVOCI represent the effective portion of hedging instruments designated in cash flow hedge. The carrying amount of “other non-current liabilities” in the table above does not include the liabilities recognized in accordance with IAS 19 which amounts to 22,971 million yen. (e) Financial instruments measured at fair value The tables below represent the financial instruments measured at fair value on a recurring basis by level as of March 31, 2019 and March 31, 2018. As of March 31, 2019 Financial assets measured at fair value (Millions of Yen) Level 1 Level 2 Level 3 Total FVPL Other financial assets Derivatives — 590 — 590 FVOCI Other financial assets Equity instruments 638,768 — 79,702 718,470 Derivatives — 13,466 — 13,466 Financial liabilities measured at fair value (Millions of Yen) Level 1 Level 2 Level 3 Total FVPL Other financial liabilities Derivatives — 258 — 258 FVOCI Other financial liabilities Derivatives — 7,260 — 7,260 Derivatives included in FVOCI represent the effective portion of hedging instruments designated in cash flow hedge. As of March 31, 2018 Financial assets measured at fair value (Millions of Yen) Level 1 Level 2 Level 3 Total FVPL Other financial assets Derivatives — 61 — 61 FVOCI Other financial assets Equity instruments 847,645 — 78,819 926,465 Derivatives — 13,388 — 13,388 Financial liabilities measured at fair value (Millions of Yen) Level 1 Level 2 Level 3 Total FVPL Other financial liabilities Derivatives — 329 — 329 FVOCI Other financial liabilities Derivatives — 6,917 — 6,917 Derivatives included in FVOCI represent the effective portion of hedging instruments designated in cash flow hedge. The changes of equity instruments measured at Level 3 are as follows: (Millions of Yen) Year ended Year ended Balance at beginning of the year 78,819 83,237 Net changes in fair value 1,122 1,197 Acquisitions 116 54 Sale / settlements (641 ) (2,106 ) Other 286 (3,562 ) Balance at end of the year 79,702 78,819 (f) Equity instruments measured at fair value through other comprehensive income (“FVOCI”) (i) Fair value of significant equity instruments measured at FVOCI by name As of Amount Toyota Motor Corporation 80,312 POSCO 70,952 Suzuki Motor Corporation 38,006 Recruit Holdings 37,110 Central Japan Railway Company 30,633 As of Amount POSCO 96,996 Toyota Motor Corporation 79,778 SUMCO Corporation 64,783 Suzuki Motor Corporation 44,462 Vallourec S.A. 37,466 (ii) Fair value at the time of derecognition for assets that were derecognized and cumulative gains or losses on disposal The Group derecognizes certain financial assets that are measured at fair value through other comprehensive income as a result of disposals through sale occurring as a result of review of business relationships. (Millions of Yen) Year ended Year ended Fair value at the time of derecognition 83,726 37,532 Cumulative gains or losses on disposal (net of tax) 14,679 6,542 (iii) Dividends recognized for the equity investments measured at FVOCI during the reporting period (Millions of Yen) Year ended Year ended Investment derecognized in the reporting period 2,168 865 Investment held at the end of reporting period 17,988 16,967 Total 20,156 17,832 (3) Fair value of financial instruments Financial instruments measured at amortized cost The fair value of financial assets and financial liabilities measured at amortized cost is as follows: (Millions of Yen) As of March 31, 2019 Carrying Fair value Level 1 Level 2 Level 3 Financial assets (Current) Other financial assets Debt instruments 12,844 9,498 0 3,345 Financial assets (Non-current) Other financial assets Debt instruments 84,211 11 7,512 76,699 Financial liabilities (Current) Bonds and borrowings 506,571 60,386 — 446,571 Financial liabilities (Non-current) Bonds and borrowings 1,815,905 224,669 — 1,618,043 (Millions of Yen) As of March 31, 2018 Carrying Fair value Level 1 Level 2 Level 3 Financial assets (Current) Other financial assets Debt instruments 12,351 1,233 3,103 8,018 Financial assets (Non-current) Other financial assets Debt instruments 74,538 23 5,497 69,015 Financial liabilities (Current) Bonds and borrowings 496,833 86,080 — 411,133 Financial liabilities (Non-current) Bonds and borrowings 1,611,153 215,686 — 1,415,613 The tables do not include financial assets and liabilities measured at amortized cost whose fair values approximate their carrying amounts. Valuation techniques used to measure the fair value of financial instruments measured at amortized cost - The fair value of a marketable financial asset is measured with reference to its market price. - The fair value of a non-marketable financial asset is measured with reference to the price quoted by financial institutions. - The fair value of a bond is measured with reference to its market price. - The fair value of a borrowing is measured at the present value of the total amounts of principal and interest discounted by the Group’s incremental borrowing rate with a similar term. (4) Risk management The Group is exposed to various financial risks (market risk, credit risk and liquidity risk) arising from its business activities and implements risk management processes to minimize these financial risks. (a) Market risk management (i) Foreign currency risk Trade receivables denominated in foreign currencies arising from exports of products are exposed to foreign currency risk. Trade payables, notes payable and other payables are, in principle, come due within one year. Certain trade payables are denominated in foreign currencies arising from imports of raw materials and exposed to foreign currency risk. The Group enters into forward exchange contracts and currency swaps to hedge foreign exchange risk arising from sales and capital transactions and investing and financing activities of the Group. Derivative transactions are executed in accordance with the internal derivative transaction policy. According to the internal l derivative transaction policy, the policy for entering into a derivative transaction of financial instruments is discussed and approved by the Financial Management Committee and reported as necessary at the Board of Directors’ meeting. Subsequently the Financial Controller approves the implementation of derivatives within the approved authority limits and reports that transaction amounts as well as gains or losses arising from derivative transactions to the Financial Management Committee on a regular basis. The Group’s principal foreign currency risk exposures for the years ended March 31, 2018 and 2019 are as follows. (Millions of USD) As of As of Net exposure (liability) 78 (174 ) Impacts on profit before income taxes in the consolidated statements of profit or loss if Japanese yen were to appreciate by 1% against the U.S. Dollar at the end of the reporting period are as follows. In this analysis, the impacts on the assets and liabilities denominated in foreign currencies as of March 31, 2018 and 2019 are estimated by assuming that variables, such as outstanding balances and interest rates, are constant. (Millions of Yen) Year ended Year ended Impacts on profit before income taxes (86 ) 185 (ii) Interest rate risk Certain bonds and long-term borrowings are floating-rates debts. The interest expenses vary depending on interest rates. The Group enters into interest rate swap contracts to mitigate the risk of interest rate fluctuations. Impacts on income taxes in the consolidated statements of profit or loss if interest rates were to increase by 1% at the end of the reporting period are as follows. In this analysis, all other variables are assumed to be constant. (Millions of Yen) Year ended Year ended Impacts on profit before income taxes (6,043 ) (5,787 ) (iii) Market price fluctuation risk Marketable equity instruments mainly represent the shares of trade counterparties for which are purchased to strengthen business alliances and are exposed to market price fluctuation risk. The Group monitors the market price on a regular basis and regularly evaluates the necessity to retain the respective investments. (b) Credit risk management In accordance with the internal credit management policy, the Group shares customer credit records with related departments, and provides for credit protection measures as necessary. Trade receivables, including notes and accounts receivable, are exposed to the credit risk of customers. The Group limits transactions to customers who are also the principal suppliers of the Group such that the trade receivables due from the customers may be offset with the trade payables and borrowings, or to customers with high credit ratings where and the Group concludes that there are limited credit risks. (i) Credit risk exposure The total amount of the contractual amounts of financial guarantees and loan commitments and the carrying amount of financial assets (net of impairment) represents its maximum exposure to credit risk without taking into account of any collaterals held. For the credit risk exposure, the Group recognizes the allowance for doubtful accounts by measuring the lifetime expected credit losses. Allowance for doubtful accounts with respect to trade receivables is assessed by multiplying the carrying amount of trade receivables by the rate of historical credit losses on an individual basis. (ii) Financial assets subject to allowance for doubtful accounts The aging of trade and other receivables is as follows: (Millions of Yen) Days past due As of As of Current 964,845 831,985 Within 90 days 4,991 1,684 Over 90 days and within 1 year 729 363 Over 1 year 173 108 Total 970,740 834,142 (iii) Changes in allowance for doubtful accounts The changes in allowance for doubtful accounts are as follows: (Millions of Yen) Year ended Year ended Balance at beginning of the year 5,878 5,854 Increase during the year 1,776 1,529 Decrease during the year (696 ) (1,513 ) Other 183 7 Balance at end of the year 7,142 5,878 (c) Liquidity risk management The Group manages its liquidity risk on financing activities (the risk that debts cannot be paid by the due dates) by preparing and regularly updating a cash flow forecast based on the reports obtained from respective departments. Furthermore, the Group has a line of credit to cover for unforeseen circumstances. The Group has entered into commitment line agreements with financial institutions to manage its working capital requirements effectively. As of March 31, 2019, the balance of borrowings related to those agreements was zero. The available credit balance under these agreements was 666,096 million yen and 650,933 million yen as of March 31, 2019, and 2018, respectively. The figures below show the remaining amount of the Group’s financial liabilities by contractual maturity at the end of the reporting period, but do not contain financial guarantees where the Group is obligated to make payments on the obligations arising from financial guarantee contracts. The maximum amounts of guarantees that are extended by the Group are described in Note 34 “Loan Guarantees”. As of March 31, 2019 (Millions of Yen) Carrying Total Within 1 year Over 1 year but within 5 years Over 5 years Trade and other payables 1,611,403 1,611,403 1,611,403 — — Borrowings 1,922,476 1,922,476 326,571 657,235 938,670 Bonds 280,000 280,000 60,000 100,000 120,000 Lease liabilities 46,754 46,754 8,783 21,034 16,936 Commercial paper 120,000 120,000 120,000 — — Derivatives 7,519 7,019 2,656 4,363 — Total 3,988,154 3,987,654 2,129,414 782,633 1,075,606 As of March 31, 2018 (Millions of Yen) Carrying Total Within 1 year Over 1 year but within 5 years Over 5 years Trade and other payables 1,580,597 1,580,597 1,580,597 — — Borrowings 1,723,290 1,723,290 322,133 584,131 817,024 Bonds 295,696 295,700 85,700 140,000 70,000 Lease liabilities 49,768 49,768 8,550 22,582 18,635 Commercial paper 89,000 89,000 89,000 — — Derivatives 7,246 8,080 2,279 5,478 323 Total 3,745,600 3,746,436 2,088,260 752,192 905,983 (5) Derivatives (a) Impacts on the consolidated statement of financial position (i) Derivative assets and liabilities designated as hedging instruments As of March 31, 2019 (Millions of Yen) Types of hedges Derivative assets and liabilities Notional Carrying amount Total Settlement in Assets Liabilities Cash flow hedge Foreign exchange forward contract 217,369 6,762 1,752 750 Interest rate swap 264,704 252,848 730 6,509 Currency swap 67,353 66,280 9,462 — Commodity swap 2,529 1,058 1,519 — Total 551,957 326,949 13,466 7,260 As of March 31, 2018 (Millions of Yen) Types of hedges Derivative assets and liabilities Notional Carrying amount Total Settlement in Assets Liabilities Cash flow hedge Foreign exchange forward contract 246,189 9,113 1,069 303 Interest rate swap 275,939 258,741 601 6,613 Currency swap 83,244 67,353 11,665 — Commodity swap 321 217 52 — Total 605,695 335,425 13,388 6,917 The carrying amount (fair value) of derivative assets are included in “Other financial assets”. The carrying amount (fair value) of derivative liabilities are included in “Other financial liabilities”. The changes in the fair value of the hedged item that are used as the basis for recognition of the ineffective portion is not disclosed as the amount is immaterial. (ii) Derivative assets and liabilities not designated as hedges (Millions of Yen) As of As of Assets Liabilities Assets Liabilities Foreign exchange forward contract 492 248 4 381 Interest swap — — 2 — Currency swap 97 10 118 11 Total 590 258 124 392 (b) Changes in fair value of cash flow hedges The changes in fair value of hedging instruments designated as cash flow hedges of the Group recognized in other comprehensive income in the consolidated statements of comprehensive income or loss are as follows. Year ended March 31, 2019 (Millions of Yen) Risk classification Beginning of Changes in fair Amount End of the The account in which the Foreign currency risk 426 4,407 (4,186 ) 646 Other operating income/Other operating expenses Interest rate risk (5,559 ) 228 5 (5,326 ) Finance income/Finance costs Other 52 1,519 (52 ) 1,519 — Total (5,080 ) 6,155 (4,234 ) (3,159 ) Year ended March 31, 2018 (Millions of Yen) Risk classification Beginning of Changes in fair Amount End of the The account in which the Foreign currency risk (682 ) (3,626 ) 4,734 426 Other operating income/Other operating expenses Interest rate risk (6,762 ) 1,222 (18 ) (5,559 ) Finance income/Finance costs Other 37 52 (37 ) 52 — Total (7,407 ) (2,351 ) 4,678 (5,080 ) |
Related Parties
Related Parties | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Related Parties | 34. Related Parties (1) Related party transactions Details of significant transactions with related parties are as follows: Year ended March 31, 2019 (Millions of Yen) Category Name Description of Amount Account Outstanding Associate Nippon Steel & Sumikin Bussan Corporation Sells steel products 1,170,241 Trade and other receivables 46,251 The terms and conditions applied to related party transactions are determined based on terms equivalent to those that prevail in arm’s length transactions. Year ended March 31, 2018 (Millions of Yen) Category Name Description of Amount Account Outstanding Associate Nippon Steel & Sumikin Bussan Corporation Sells steel products 849,244 Trade and other receivables 39,236 The terms and conditions applied to related party transactions are determined based on terms equivalent to those that prevail in arm’s length transactions. (2) Key management personnel compensation Compensation paid to the directors of the Group is as follows: (Millions of Yen) Year ended Year ended Year ended Salary 935 857 964 |
Commitments
Commitments | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Commitments | 35. Commitments Significant commitments related to the acquisition of assets are as follows: (Millions of Yen) As of As of Contractual commitments related to acquisition of property, plant and equipment and intangible assets 393,230 316,808 |
Loan Guarantees
Loan Guarantees | 12 Months Ended |
Mar. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Loan Guarantees | 36. Loan Guarantees The Group provides guarantees for the bank loans of its joint ventures and associates which would require the Group to repay the loan in the event of a default. (Millions of Yen) As of As of Guarantees for the bank loans of joint ventures and associates 62,506 82,721 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Subsequent Events | 37. Subsequent Events There are no material subsequent events. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Basis of consolidation | (1) Basis of consolidation (a) Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date when control is obtained until the date when control is lost. If the Group loses control of a subsidiary, any gain or loss resulting from the loss of control is recognized in profit or loss. Changes in the Group’s interest in a subsidiary not resulting in a loss of control are accounted for as equity transactions, and the difference between the adjustment to the non-controlling When the accounting policies of the subsidiaries are different from those of the Group, the financial statements of subsidiaries are adjusted to ensure that the accounting policies are consistent with those of the Group. All intragroup balances, transaction amounts and unrealized gains and losses arising from intragroup transactions are eliminated in full in preparing the consolidated financial statements. Intragroup losses are eliminated in full except to the extent that the underlying asset is impaired. (b) Investments in associates An associate is an entity over which the Group has significant influence, which is the power to participate in the financial and operating policy decisions of the investee but there are no control. In principle, it is presumed that the Group has significant influence over an investee when the Group holds 20% or more but no more than 50% of the voting rights of the investee. An investee is determined as an associate when the Group has significant influence over it in one or more ways, not only the ratio of the voting rights, but also through participation in the policy-making progress and other right. An investment in an associate is accounted for under the equity method from the date when the Group has significant influence over it until the date when the significant influence is lost. Under the equity method, the investment is initially recognized at cost, and any excess of the Group’s share of the acquisition-date fair value of the investee’s identifiable net assets over the cost of the investment is recognized as goodwill that is included in the carrying amount of the investment. Thereafter, the investment is adjusted for the change in the Group’s share of the investee’s profit or loss and other comprehensive income. When the Group’s share of losses exceeds its interest in the associate, the Group’s interest is reduced to zero and recognition of further losses over the carrying amount of the investment is discontinued except to the extent that the Group assumes obligations or makes payments on behalf of the investee. When the Group ceases to have significant influence over an associate and discontinues the use of the equity method, gain or loss arising from discontinuance of the use of the equity method is recognized in profit or loss. Goodwill arising from the acquisition of an associate forms a part of the carrying amount of investments in the associate and is not separately recognized. Therefore, the goodwill of investment in an associate is not subject to impairment test separately. However, whenever there is any possibility that an investment in an associate may be impaired, the entire carrying amount of the investment is tested for impairment as a single asset. Regarding impairment of goodwill, refer to (10) “Impairment of non-financial (c) Joint arrangements The Group determines the type of a joint arrangement in which it is involved by considering its rights and obligations arising from the arrangement. When the parties that have joint control of an arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement, the arrangement is classified as a joint operation. When the parties that collectively control the arrangement have rights to the net assets of the arrangement and decisions about the relevant activities require the unanimous consent of those parties, that arrangement is classified as a joint venture. (d) Scope of consolidation and Application of equity method Number of consolidated subsidiaries: 420 companies At the end of fiscal year 2018, the scope of consolidation expanded by 46 companies, including 45 newly acquired companies and 1 newly established company. 19 companies, mainly 8 liquidations and 6 merged companies, were eliminated from the scope of consolidation during the fiscal year ended March 31, 2019. Number of equity-method affiliates (associates, jointly controlled businesses and jointly controlled companies) were 119 companies During the consolidated fiscal year 4 companies were added and 8 companies were removed from the scope of equity-method affiliates. |
Business combinations | (2) Business combinations Business combinations are accounted for using the acquisition method when control is obtained. The identifiable assets acquired and the liabilities assumed of the acquiree are recognized at fair value as of the acquisition date. When the total of consideration transferred in business combinations and amount of non-controlling non-controlling The consideration transferred for the acquisition is measured as the total of fair value of the assets transferred, the liabilities incurred to former owners of the acquiree and the equity interests issued by the acquirer. In addition, the fair value of equity interest in the acquiree that the Group held before the date of obtaining control is included in the consideration transferred for a business combination achieved in stages. Acquisition costs attributable to a business combination are recognized as expenses as incurred. Non-controlling non-controlling acquisition-by-acquisition The components of profit or loss and other comprehensive income are attributed to owners of the parent and non-controlling interests based on the proportionate shares held. |
Foreign currency translation | (3) Foreign currency translation (a) Functional currency and presentation currency The financial statements of each Group entity are presented in its functional currency that is the currency of the primary economic environment in which the entity operates. The consolidated financial statements are presented in Japanese yen, which is the functional currency of the Company. (b) Foreign currency transactions Foreign currency transactions are translated into the functional currency using the spot exchange rate at the transaction date or using the foreign exchange rate that approximates such rate. Foreign currency monetary items at the end of each reporting period are translated into the functional currency using the exchange rate at the end of each reporting period. Non-monetary Non-monetary (c) Foreign operations The financial performance and financial position of all of foreign operations which use a functional currency other than the presentation currency are translated into the presentation currency of the Company using the following exchange rates: (i) Assets and liabilities are translated using the exchange rates at the reporting date (ii) Income and expenses are translated at average exchange rates (iii) All resulting exchange differences arising from translation of foreign operations are recognized in other comprehensive income. When a foreign operation is disposed of, the cumulative amount of the exchange differences recognized in other comprehensive income is reclassified to profit or loss. |
Financial instruments | (4) Financial instruments (a) Non-derivative (i) Recognition and measurement The Group recognizes financial assets when it becomes a party to the contractual provisions of the assets. Financial assets purchased or sold in a regular way are recognized on the trade date. Financial assets other than derivative financial instruments are classified at initial recognition as those measured at amortized cost or at fair value through other comprehensive income. Financial assets measured at amortized cost and fair value through other comprehensive income are initially recognized at their fair value plus transaction costs that are directly attributable to the acquisition of the assets. Financial assets measured at amortized cost Financial assets are classified as financial assets measured at amortized cost only if the assets are held within the Group’s business model with an objective of collecting contractual cash flows, and if the contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. However, the trade receivables that do not contain a significant financing component are recognized initially at their transaction price. Financial assets measured at fair value through other comprehensive income For certain equity instruments held primarily for the purpose of maintaining or strengthening business relationship with investees, the Group designates these instruments as financial assets measured at fair value through other comprehensive income at initial recognition. Subsequent changes in fair value are recognized in other comprehensive income. When these financial assets are derecognized or significant deterioration of fair value occurs, a gain or loss accumulated in other comprehensive income is reclassified to retained earnings. Dividends from the financial assets measured at fair value through other comprehensive income are recognized in profit or loss when the Group’s right to receive dividends is established. (ii) Derecognition Financial assets are derecognized when the contractual rights to the cash flows from the financial assets expire, or when the Group transfers the financial assets and substantially all the risks and rewards of ownership of the assets to another party. (iii) Impairment of financial assets measured at amortized cost The Group assesses expected credit loss at the end of each reporting period for the impairment of financial assets measured at amortized cost. The loss allowance is measured at an amount equal to the lifetime expected credit losses for trade receivables and financial assets with a significant increase in credit risk since initial recognition. The Group determines whether credit risk has significantly increased based on changes in the risk of a default occurring on the financial assets. When determining whether there are changes in the risk of a default occurring on the financial assets, the Group considers the following; • Significant deterioration in the financial conditions of an issuer or a borrower; • A breach of contract, such as default or past-due • It has become probable that a borrower will enter into bankruptcy or other financial reorganization (b) Non-derivative (i) Recognition and measurement Financial liabilities other than derivatives are classified as financial liabilities measured at amortized cost. (ii) Derecognition The Group derecognizes financial liabilities when the obligation specified in the contract is discharged, cancelled or expires. (c) Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statement of financial position only when the Group currently has a legally enforceable right to offset the recognized amounts and intends either to settle on a net basis or to realize the assets and settle the liabilities simultaneously. (d) Derivatives and hedge accounting The Group utilizes derivatives, including foreign exchange forward contracts, interest rate swaps and currency swaps, to hedge foreign currency risk and interest rate risk. These derivatives are initially recognized at fair value when the contract is entered into, and are subsequently measured at fair value. Changes in fair value of derivatives are recognized in profit or loss. However, the effective portion of cash flow hedges is recognized in other comprehensive income. The Group formally documents relationships between hedging instruments and hedged items, as well as its risk management objective and strategies for undertaking various hedge transactions in an internal rule titled “Administrative Provisions on Transactions of Derivative Instruments”. The rule stipulates that derivative transactions are conducted only for the purpose of mitigating risks arising from the Group’s principal business activities (including forecast transactions) and the trading of derivatives for speculative purposes is prohibited. The Group evaluates whether the derivatives designated as a hedging instrument offsets changes in fair value or the cash flows of the hedged items to a great extent when designating a hedging relationship and on an ongoing basis. A hedging relationship that qualifies for hedge accounting is classified and accounted for as follows: (i) Fair value hedges Changes in fair value of derivative as a hedging instrument are recognized in profit or loss. Changes in fair value of a hedged item adjust the carrying amount of the hedged item and are recognized in profit or loss. (ii) Cash flow hedges The effective portion of changes in fair value of derivative as a hedging instrument is recognized in other comprehensive income. Any ineffective portion of changes in fair value of derivative as the hedging instrument is recognized in profit or loss. The amount accumulated in other comprehensive income is reclassified to profit or loss when the hedged transactions affect profit or loss. When a hedged item results in the recognition of a non-financial non-financial non-financial non-financial |
Cash and cash equivalents | (5) Cash and cash equivalents Cash and cash equivalents comprises of cash on hand, bank deposits available for withdrawal on demand, and short-term investments with the maturity of three months or less from the acquisition date, that are readily convertible to cash and subject to an insignificant risk of changes in value. |
Inventories | (6) Inventories Inventories are measured at the lower of cost or net realizable value. The cost of inventories is measured based on the weighted average method, and comprises of all costs of purchasing and processing as well as other costs incurred in bringing the inventories to their present location and condition. Net realizable value represents the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. |
Property, plant and equipment | (7) Property, plant and equipment (a) Recognition and measurement Property, plant and equipment is initially measured at cost and presented at cost less accumulated depreciation and impairment losses. Acquisition cost includes costs directly attributable to the acquisition of the asset and costs of dismantling, removing and restoration of the asset. (b) Depreciation Depreciation of property, plant and equipment is mainly computed by the declining-balance method over the estimated useful lives of each component based on the depreciable amount, except for land and other non-depreciable The estimated useful lives of major property, plant and equipment are as follows: • Buildings: Principally 31 years • Machinery: Principally 14 years The depreciation methods, estimated useful lives and residual values are reviewed at the end of each reporting period, and modified as necessary. |
Goodwill and intangible assets | (8) Goodwill and intangible assets Intangible assets are measured at cost. Intangible assets with finite useful lives are presented at cost less accumulated amortization and impairment losses. Goodwill and intangible assets with indefinite useful lives are presented at cost less accumulated impairment losses. (a) Goodwill When the total of consideration transferred in business combinations and amount of non-controlling Goodwill is not amortized and is allocated to cash-generating units or groups of cash-generating units. Regarding accounting policy for impairment of goodwill, refer to (10) “Impairment of non-financial (b) Intangible assets Intangible assets acquired separately are measured at cost at the date of initial recognition. The costs of intangible assets acquired in business combinations are measured at fair value at the acquisition date. Intangible assets with finite useful lives are presented at cost less accumulated amortization and impairment losses. Expenditures related to internally generated intangible assets are recognized as expenses when incurred, unless development expenses meet the criteria for capitalization. (c) Amortization Amortization of intangible assets with finite useful lives is recognized as an expense by the straight-line method over their estimated useful lives from the date when the assets are available for their intended use. The amortization methods and useful lives are reviewed at the end of each reporting period, and modified as necessary. The estimated useful lives of major intangible assets with finite useful lives are as follows: • Software: Principally 5 years • Mining rights: Principally 25 years Intangible assets with indefinite useful lives and intangible assets not yet available for use are not amortized. (d) Expenditure on research and development activities Expenditure on research activities is recognized in profit or loss as incurred. Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Group intends to and has sufficient resources to complete the development and to use or sell the asset. Otherwise, it is recognized in profit or loss as incurred. |
Leases | (9) Leases The Group determines whether an arrangement is, or contains, a lease based on the substance of the arrangement as of the commencement date of the lease. For the substance of the arrangement, it makes an assessment of whether the fulfillment of the arrangement is dependent on the use of a specific asset or group of assets, and whether a right to use of the asset is transferred under the arrangement. A lease is classified as a finance lease, if all the risks and rewards of ownership of an asset are substantially transferred to the Group. Otherwise, a lease is classified as an operating lease. (a) Finance lease Lease assets and lease liabilities are initially recognized at the lower of fair value at the commencement of the lease or present value of the minimum lease payments. If it is reasonably certain that ownership will be transferred to a lessee by the end of the lease term, the leased asset is depreciated principally by the declining-balance method over the estimated useful life of the asset. Otherwise, the asset is depreciated over the shorter of the estimated useful life or the lease term. (b) Operating lease Lease payments under an operating lease are recognized in profit or loss on a straight-line basis over the relevant lease term. |
Impairment of non-financial assets | (10) Impairment of non-financial For the non-financial The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less costs to sell and its value in use. When the recoverable amount of the individual asset cannot be estimated, the Group estimates the recoverable amount of the cash-generating unit or the group of cash-generating units to which the asset belongs. The value in use is calculated by discounting the estimated future cash flows to the present value, and a pre-tax The cash-generating unit or the group of cash-generating units to which goodwill is allocated is the lowest level monitored for internal management purposes, and is not larger than an operating segment. As corporate assets do not independently generate cash inflows, when there is an indication that a corporate asset may be impaired, an impairment test is performed based on the recoverable amount of the cash-generating unit or the group of cash-generating units to which such corporate asset belongs. If the recoverable amount of the asset or the cash-generating unit is less than the carrying amount, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognized. The impairment loss recognized with respect to the cash-generating unit is allocated first to reduce the carrying amount of any goodwill allocated to the cash-generating unit, and then to reduce other assets of the unit on a pro-rata An impairment loss is reversed if there are indications that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased and the recoverable amount of the asset is greater than its carrying amount. The amount to be reversed would not exceed its carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. An impairment loss recognized in goodwill is not reversed. |
Employee benefits | (11) Employee benefits Employee benefits include short-term employee benefits, retirement benefits, and other long-term employee benefits. (a) Short-term employee benefits Short-term employee benefit obligations are measured on an undiscounted basis and are recognized as expenses when the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash incentive plans if the Group has a present legal or constructive obligation to pay in exchange for services provided by the employees in the prior period, and such obligation can be reliably estimated. (b) Retirement benefits Retirement benefit plans comprise of defined benefit corporate pension plans, defined contribution plans, and lump-sum (i) Defined benefit corporate pension plans and lump-sum The net defined benefit liabilities or assets of defined benefit plans are recognized as the present value of defined benefit obligations less the fair value of any plan assets. The present value of defined benefit obligations is calculated annually by qualified actuaries using the projected unit credit method. The discount rates are based on the market yields of high quality corporate bonds at the end of each reporting period that have terms consistent with the discount period, which is established as the estimated term of the retirement benefit obligations through to the estimated dates for payments of future benefits. Remeasurements of defined benefit plans are recognized immediately in other comprehensive income when incurred, while past service costs are recognized in profit or loss. (ii) Defined contribution plans Contributions to defined contribution retirement plans are recognized as expenses in the period when the employees render the related services. |
Equity | (12) Equity (a) Ordinary shares Ordinary shares are classified as equity. Costs directly attributable to the issuance of ordinary shares (net of tax effects) are recognized as a deduction from equity. (b) Treasury stock When the Company acquires treasury stocks, the consideration paid, including any directly attributable costs (net of tax effects), is deducted from equity. In case of disposal of treasury stocks, the difference between the consideration received and the carrying amount of treasury stocks is recognized in equity. |
Revenue | (13) Revenue The Group has adopted IFRS 15 “Revenue from Contracts with Customers” from the fiscal year ended March 31, 2019. Under IFRS 15, revenue is recognized based on the following five-steps. Step 1: Identify the contract with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when or as the Group satisfies a performance obligation Revenue generated from Steelmaking and Steel Fabrication segment and Chemicals and Materials segment consists primarily of revenue generated from sale of goods while revenue generated from Engineering and Construction segment and System Solutions segment primarily consists of services rendered under construction contracts. (a) Sale of goods The Group recognizes revenue from sale of goods when the customer obtains control of the goods and therefore a performance obligation is satisfied at a point in time whereby the Group no longer retains physical possession of goods upon shipment, the Group has the right to be paid from the customer, and when the legal title is transferred to the customer. With respect to revenue from rendering of service whose performance obligation is satisfied at a point in time, the Group recognizes revenue when the rendering of service is completed. Revenue is measured at the amount of consideration received or receivable less discounts and rebates. The consideration of the transaction is primarily collected within one year after the satisfaction of the performance obligation and it does not contain a significant financing component. (b) Construction contracts and built-to-order The Group recognizes revenue from construction contracts and built-to-order With respect to revenue from rendering of services whose performance obligation is satisfied over time, the Group recognizes revenue evenly throughout the duration of the service. The Group has adopted IFRS 15 “Revenue from Contracts with Customers” from the fiscal year ended March 31, 2019. In applying IFRS 15, the Group elected to apply the cumulative effect transition method where the cumulative effect of applying the Standard is recognized at the date of initial application. The adoption of the standard had no significant effect on each amount recognized in the consolidated financial statements. |
Income taxes | (14) Income taxes Income taxes comprise of current taxes and deferred taxes, and are recognized in profit or loss, except for the items which are recognized directly in equity or other comprehensive income. Current taxes are measured at the amounts expected to be paid or recovered from the taxation authorities using the tax rates that have been enacted or substantively enacted at the end of the reporting period. Deferred tax assets and deferred tax liabilities are recognized based on future tax consequences attributable to temporary differences between the carrying amounts of assets or liabilities for accounting purposes and the tax bases of the assets or liabilities, carryforward of unused tax losses and tax credits. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax losses and unused tax credits can be utilized. Deferred tax assets are reviewed at the end of each reporting period and recognized only to the extent that it is probable that the tax benefits can be realized. However, deferred tax assets are not recognized if the initial recognition of an asset or liability in a transaction that is not a business combination affects neither accounting profit nor taxable profit at the time of the transaction. Deferred tax assets arising from deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements are recognized only to the extent of the following circumstances: • The temporary difference will reverse in the foreseeable future; and • Taxable profit will be available against which the temporary difference can be utilized. Deferred tax liabilities are recognized for all taxable temporary differences, except for the following circumstances: • On the initial recognition of goodwill; • On the initial recognition of an asset or liability in a transaction that is not a business combination affects neither accounting profit nor taxable profit at the time of the transaction; • Taxable temporary differences associated with investments in subsidiaries to the extent that the parent company is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and deferred tax liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and in either of the following circumstances: • Income taxes are levied by the same taxation authority on the same taxable entity; or • Different taxable entities intend either to settle current tax assets and current tax liabilities on a net basis, or to realize the current tax assets and settle the current tax liabilities simultaneously. |
Earnings per share | (15) Earnings per share Basic earnings per share is calculated by dividing the profit for the reporting period attributable to owners of the Company by the weighted average number of common stock outstanding during the period in which the number of treasury stock is excluded. |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Estimated Useful Lives of Property, Plant and Equipment | The estimated useful lives of major property, plant and equipment are as follows: • Buildings: Principally 31 years • Machinery: Principally 14 years |
Summary of Estimated Useful Lives of Intangible Assets | The estimated useful lives of major intangible assets with finite useful lives are as follows: • Software: Principally 5 years • Mining rights: Principally 25 years |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Segment Revenue, Segment Profit, Segment Assets and Liabilities and Other Items | (3) Information about segment revenue, segment profit, segment assets and liabilities and other items Year ended March 31, 2019 (Millions of Yen) Reportable segment Subtotal Adjustments Consolidated Steelmaking Engineering Chemicals System Revenue Revenue from external customers 5,408,633 321,346 243,014 204,952 6,177,947 — 6,177,947 Inter-segment revenue or transfers 45,902 35,360 4,052 62,550 147,867 (147,867 ) — Total 5,454,536 356,707 247,067 267,503 6,325,814 (147,867 ) 6,177,947 Segment profit 274,672 9,474 25,095 26,576 335,818 1,122 336,941 Other items Depreciation and amortization 398,702 2,605 6,644 4,872 412,825 (4,208 ) 408,616 Share of profit in investments accounted for using the equity method 76,337 801 1,339 (5 ) 78,473 7,938 86,411 Segment assets 7,404,841 289,083 194,622 231,994 8,120,542 (71,013 ) 8,049,528 Other items Investments accounted for using the equity method 672,853 6,313 23,629 309 703,105 90,041 793,146 Capital expenditure 431,775 3,021 8,855 2,542 446,194 (5,363 ) 440,830 Segment liabilities (Interest-bearing 2,365,587 5,937 7,075 2,631 2,381,231 (12,000 ) 2,369,231 Notes: 1. The adjustments of segment profit of 1,122 million yen include investment return of 8,237 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., and elimination of inter-segment revenue or transfers of (7,114) million yen. 2. The adjustments of segment liabilities include the elimination of the Steelmaking and Steel Fabrication segment’s borrowings from the System Solutions segment. Year ended March 31, 2018 (Millions of Yen) Reportable segment Subtotal Adjustments Total IFRS Consolidated Steelmaking Engineering Chemicals System Revenue Revenue from external customers 4,983,335 260,908 234,108 190,310 5,668,663 — 5,668,663 44,302 5,712,965 Inter-segment revenue or transfers 33,910 33,360 3,709 53,889 124,868 (124,868 ) — — — Total 5,017,245 294,268 237,817 244,200 5,793,531 (124,868 ) 5,668,663 44,302 5,712,965 Segment profit 245,708 9,110 17,399 23,292 295,510 2,030 297,541 (8,840 ) 288,700 Other items Finance income 4,983 180 38 146 5,348 (202 ) 5,146 2,498 7,644 Finance costs 20,080 44 172 11 20,309 (202 ) 20,106 4,477 24,584 Depreciation and amortization 330,393 2,489 7,329 4,646 344,859 (4,140 ) 340,719 25,845 366,565 Share of profit in investments accounted for using the equity method 116,408 378 148 (10 ) 116,925 5,750 122,675 (57,018 ) 65,657 Segment assets 7,003,681 247,696 184,988 223,601 7,659,967 (67,554 ) 7,592,413 163,721 7,756,134 Other items Investments accounted for using the equity method 950,887 4,393 24,843 17 980,142 83,614 1,063,757 (264,517 ) 799,239 Capital expenditure 390,623 6,301 8,497 7,638 413,061 (1,130 ) 411,930 11,497 423,428 Segment liabilities (Interest-bearing debt) 2,057,997 8,313 11,519 3,693 2,081,524 (12,527 ) 2,068,996 88,759 2,157,755 Notes: 1. The adjustments of segment profit of 2,030 million yen include investment return of 5,929 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., and elimination of inter-segment revenue or transfers of (3,899) million yen. 2. The adjustments of segment liabilities include the elimination of the Steelmaking and Steel Fabrication segment’s borrowings from the System Solutions segment. Year ended March 31, 2017 (Millions of Yen) Reportable segment Subtotal Adjustments Total IFRS Consolidated Steelmaking Engineering Chemicals System Revenue Revenue from external customers 4,016,670 234,861 203,115 178,242 4,632,890 — 4,632,890 63,937 4,696,828 Inter-segment 35,590 32,683 5,630 54,270 128,175 (128,175 ) — — — Total 4,052,261 267,545 208,746 232,512 4,761,065 (128,175 ) 4,632,890 63,937 4,696,828 Segment profit 138,017 6,838 6,304 22,113 173,274 1,256 174,531 (4,652 ) 169,878 Other items Finance income 5,566 124 36 133 5,860 (206 ) 5,654 668 6,322 Finance costs 17,831 118 233 28 18,212 (206 ) 18,006 3,579 21,586 Depreciation and amortization 294,008 2,653 8,227 4,174 309,064 (4,313 ) 304,751 26,161 330,912 Share of profit in investments accounted for using the equity method 70,723 655 920 21 72,320 6,859 79,180 (35,062 ) 44,118 Other items Capital expenditure 335,733 5,637 9,229 4,343 354,943 (3,905 ) 351,038 11,486 362,525 Notes: 1. The adjustments of segment profit of 1,256 million yen include investment return of 6,524 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., investment return of 629 million yen from the equity method associate SUMCO Corporation, and elimination of inter-segment revenue or transfers of (5,897) million yen. 2. The adjustments of segment liabilities include the elimination of the Steelmaking and Steel Fabrication segment’s borrowings from the System Solutions segment. |
Summary of Geographical Areas | (4) Information about geographical areas (a) Revenue Year ended March 31, 2019 (Millions of Yen) Japan Overseas Asia Other Total 4,053,188 2,124,758 1,310,890 813,868 6,177,947 Year ended March 31, 2018 (Millions of Yen) Japan Overseas Asia Other Total 3,729,176 1,983,789 1,274,380 709,409 5,712,965 Year ended March 31, 2017 (Millions of Yen) Japan Overseas Asia Other Total 2,980,400 1,716,427 1,068,459 647,967 4,696,828 Revenue information is based on the geographical location of customers and classified by region. (b) Non-current assets As of March 31, 2019 (Millions of Yen) Japan Overseas Total 2,978,818 435,078 3,413,896 As of March 31, 2018 (Millions of Yen) Japan Overseas Total 2,854,097 418,238 3,272,335 Non-current assets are based on the location of the asset and do not include financial assets, deferred tax assets and assets for retirement benefits. |
Summary of Revenue from Major Customers | (5) Revenue from major customers (Millions of Yen) Related segment Year ended Year ended Year ended Nippon Steel & Sumikin Bussan Corporation Steelmaking and Steel Fabrication 1,170,241 849,244 744,657 Sumitomo Corporation Steelmaking and Steel Fabrication 762,888 772,942 674,139 Metal One Corporation Steelmaking and Steel Fabrication 631,639 592,146 — |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
OvakoAB [member] | |
Statement [LineItems] | |
Details of Consideration Transferred | (b) Consideration transferred (Millions of Yen) Cash 51,767 Total consideration transferred 51,767 |
Summary of Fair Value the Identifiable Assets Acquired and Liabilities Assumed | (c) Fair value of the assets acquired and liabilities assumed and goodwill (Millions of Yen) Current assets 63,555 Non-current assets 53,302 Total assets 116,858 Current liabilities 70,691 Non-current liabilities 17,032 Total liabilities 87,724 Total identifiable net assets acquired 29,133 Total equity attributable to owners of the parent 29,133 Total consideration transferred 51,767 Goodwill 22,634 |
Summary of Net Cash used in the transaction | (d) Net cash used in the transaction (Millions of Yen) Cash consideration transferred 51,767 Cash and cash equivalents held by the acquiree at the acquisition date (5,961 ) Net cash used in the transaction 45,805 |
Sanyo Special Steel Co Ltd [member] | |
Statement [LineItems] | |
Summary of Revenue and Profit or Loss in Business Combination | (f) Revenue and profit or loss of the Group if the business combination had been completed at the beginning of the year (Unaudited) (Millions of Yen) Revenue 6,363,765 Profit before income taxes 259,145 |
Details of Consideration Transferred | (b) Consideration transferred (Millions of Yen) Cash 67,235 Fair value of equity interests held before the acquisition date 13,737 Total consideration transferred 80,972 |
Summary of Fair Value the Identifiable Assets Acquired and Liabilities Assumed | (c) Fair value of the assets acquired and liabilities assumed, non-controlling interests and bargain purchase gain The Company has not completed the fair value measurement of acquired assets and assumed liabilities, and accordingly the computation of non-controlling interests, bargain purchase gain and the purchase price allocations are on a provisional basis based on the most current information available. (Millions of Yen) Current assets 210,344 Non-current assets 75,075 Total assets 285,419 Current liabilities 61,789 Non-current liabilities 38,804 Total liabilities 100,593 Total identifiable net assets acquired 184,826 Non-controlling interests 90,274 Total equity attributable to owners of the parent 94,551 Total consideration transferred 80,972 Bargain purchase gain 13,578 |
Summary of Net Cash used in the transaction | (d) Net cash used in the transaction (Millions of Yen) Cash consideration transferred 67,235 Cash and cash equivalents held by the Sanyo at the acquisition date (79,196 ) Net cash provided in the transaction (11,961 ) |
Nisshin Steel Co Ltd [member] | |
Statement [LineItems] | |
Summary of Revenue and Profit or Loss in Business Combination | (f) Revenue and profit or loss of the Group if the business combination had been completed at the beginning of the year (Unaudited) (Millions of Yen) Revenue 5,222,392 Profit before income taxes 199,831 |
Details of Consideration Transferred | (b) Consideration transferred (Millions of Yen) Cash 75,972 Fair value of equity interests held before the date of acquisition 14,781 Total consideration transferred 90,753 |
Summary of Fair Value the Identifiable Assets Acquired and Liabilities Assumed | (c) Fair value of the assets acquired and liabilities assumed, non-controlling interests and goodwill (Millions of Yen) Current asset 246,040 Non-current assets 423,937 Total assets 669,978 Current liabilities 224,318 Non-current liabilities 259,936 Total liabilities 484,255 Total identifiable net assets acquired 185,722 Non-controlling interests 98,105 Total equity attributable to owners of the parent 87,616 Total consideration transferred 90,753 Goodwill 3,136 |
Summary of Net Cash used in the transaction | (d) Net cash used in the transaction (Millions of Yen) Cash consideration transferred 75,972 Cash and cash equivalents held by the Nisshin Steel at the acquisition date (23,079 ) Net cash used in the transaction 52,892 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Components of Cash and Cash Equivalents | The components of cash and cash equivalents are as follows: (Millions of Yen) As of As of As of Cash 159,636 138,702 119,793 Cash equivalents 3,540 4,166 4,135 Total 163,176 142,869 123,929 |
Trade and Other Receivables (Ta
Trade and Other Receivables (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Components of Trade and Other Receivables | The components of trade and other receivables are as follows: (Millions of Yen) As of As of Notes and accounts receivable 842,573 730,805 Other 128,166 103,336 Allowance for doubtful receivables (2,407 ) (2,101 ) Total 968,333 832,040 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Inventories | The components of inventories are as follows: (Millions of Yen) As of As of Merchandise and finished goods 831,597 701,173 Work in progress 87,814 72,425 Raw materials and supplies 647,704 626,222 Total 1,567,116 1,399,821 |
Assets Pledged as Collateral (T
Assets Pledged as Collateral (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Assets Pledged as Collateral and Secured debt | Assets pledged as collateral and secured debts are as follows: (Millions of Yen) Assets pledged as collateral As of As of Land 11,432 10,855 Buildings and structures 4,853 3,784 Machinery and vehicles 5,471 6,826 Other 13,475 4,907 Total 35,233 26,373 (Millions of Yen) Secured debts As of As of Short-term borrowings 3,635 970 Long-term borrowings (current portion is included) 6,242 5,383 Other 467 447 Total 10,345 6,801 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Property Plant and Equipment | Details of changes in the carrying amounts and acquisition costs, accumulated depreciation and accumulated impairment losses of property, plant and equipment are as follows: (Millions of Yen) Carrying amount Land Buildings Machinery Tools, Leased Construction Total As of March 31, 2017 654,349 815,580 1,266,968 48,413 46,783 260,106 3,092,202 Acquisitions and reclassified from construction in progress 1,831 71,336 277,566 24,810 10,401 16,255 402,200 Disposals and sales (2,858 ) (4,081 ) (2,637 ) (621 ) (246 ) (803 ) (11,249 ) Depreciation — (58,469 ) (257,642 ) (19,000 ) (9,486 ) — (344,599 ) Impairment losses (536 ) (5,955 ) (8,344 ) (564 ) — — (15,401 ) Effects of changes in foreign exchange rates (421 ) 868 10,997 189 (627 ) (10,300 ) 705 As of March 31, 2018 652,364 819,277 1,286,908 53,226 46,823 265,258 3,123,857 Acquisitions and reclassified from construction in progress 5,967 78,086 363,975 85,546 7,812 (72,830 ) 468,557 Acquisitions through business combinations 9,653 20,579 56,261 1,082 — 6,755 94,331 Disposals and sales (5,258 ) (3,660 ) (6,037 ) (4,570 ) (131 ) (129 ) (19,788 ) Depreciation — (58,817 ) (272,371 ) (46,659 ) (9,498 ) — (387,347 ) Effects of changes in foreign exchange rates (1,224 ) (190 ) (25,447 ) 719 (38 ) (6,758 ) (32,941 ) As of March 31, 2019 661,502 855,274 1,403,287 89,343 44,967 192,294 3,246,669 Depreciation of property, plant and equipment is mainly included in “Cost of sales” and “Selling, general and administrative expenses” in the consolidated statements of profit or loss. (Millions of Yen) Acquisition costs Land Buildings Machinery Tools, Leased Construction Total As of March 31, 2017 705,539 2,555,698 7,998,199 317,753 277,165 308,196 12,162,552 As of March 31, 2018 701,984 2,607,700 8,215,605 327,419 276,851 313,262 12,442,823 As of March 31, 2019 710,235 2,730,502 8,733,560 407,619 280,382 196,767 13,059,068 (Millions of Yen) Accumulated depreciation and Land Buildings Machinery Tools, Leased Construction Total As of March 31, 2017 51,189 1,740,118 6,731,230 269,340 230,382 48,089 9,070,350 As of March 31, 2018 49,620 1,788,422 6,928,697 274,193 230,027 48,003 9,318,966 As of March 31, 2019 48,733 1,875,228 7,330,272 318,276 235,414 4,473 9,812,398 The carrying amounts by type of leased assets are as follows: (Millions of Yen) Buildings and Machinery and Tools, furniture Total As of March 31, 2017 11,895 31,994 2,893 46,783 As of March 31, 2018 10,748 32,005 4,069 46,823 As of March 31, 2019 10,024 31,701 3,241 44,967 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Carrying Amount of Goodwill and Intangible Assets | Details of changes in the carrying amounts and acquisition costs, accumulated amortization and accumulated impairment losses of goodwill and intangible assets are as follows: (Millions of Yen) Carrying amount Goodwill Software Mining rights Other Total As of March 31, 2017 44,563 47,165 44,630 5,878 142,237 Acquisitions — 18,698 — 2,528 21,227 Amortization — (18,443 ) (2,306 ) (1,215 ) (21,965 ) Impairment losses (2,472 ) (139 ) — (61 ) (2,673 ) Effects of changes in foreign exchange rates 173 (1,066 ) 1,898 (434 ) 569 As of March 31, 2018 42,263 46,214 44,221 6,695 139,395 Acquisitions — 19,470 — 807 20,278 Acquisitions through business combinations 22,634 1,891 — 16,333 40,859 Amortization — (17,868 ) (2,198 ) (1,202 ) (21,268 ) Impairment losses (10,963 ) — — — (10,963 ) Effect of changes in foreign exchange rates (1,131 ) (3,079 ) (4,884 ) (272 ) (9,367 ) As of March 31, 2019 52,803 46,629 37,139 22,362 158,934 |
Summary of Amortization of Intangible Assets | Amortization of intangible assets is included in “Cost of sales” and “Selling, general and administrative expenses” in the consolidated statements of profit or loss. (Millions of Yen) Acquisition costs Goodwill Software Mining rights Other Total As of March 31, 2017 44,563 87,236 63,304 12,131 207,236 As of March 31, 2018 44,736 97,253 66,107 17,203 225,301 As of March 31, 2019 66,238 115,358 58,617 30,875 271,090 Accumulated amortization and (Millions of Yen) Goodwill Software Mining rights Other Total As of March 31, 2017 — 40,071 18,674 6,252 64,999 As of March 31, 2018 2,472 51,039 21,885 10,507 85,905 As of March 31, 2019 13,435 68,729 21,478 8,512 112,155 |
Interests in Subsidiaries, As_2
Interests in Subsidiaries, Associates and Others (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Major Subsidiaries of the Company | Major subsidiaries of the Company as of March 31, 2019 are as follows: Operating segment Name Address % of voting Steelmaking and Steel Fabrication Sanyo Special Steel Co., Ltd. Himeji-shi, Hyogo 51.5 % Steelmaking and Steel Fabrication Nisshin Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Coated Sheet Corporation Chuo-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Osaka Steel Co., Ltd. Osaka-shi, Osaka 66.3 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Metal Products Co., Ltd. Koto-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Pipe Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Kurosaki Harima Corporation Kitakyushu-shi, Fukuoka *47.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Texeng Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Stainless Steel Corporation Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Logistics Co., Ltd. Chuo-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin SG Wire Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Geostr Corporation Bunkyo-ku, Tokyo *42.3 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Welding Co., Ltd. Koto-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Drum Co., Ltd. Koto-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Blast Furnace Slag Cement Co., Ltd. Kitakyushu-shi, Fukuoka 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Cement Co., Ltd. Muroran-shi, Hokkaido 85.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Finance Co., Ltd. Chiyoda-ku, Tokyo 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Stainless Steel Pipe Co., Ltd. Koga-shi, Ibaraki 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Steel Wire Co., Ltd. Seki-shi, Gifu 51.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Eco-Tech Corporation Chuo-ku, Tokyo 85.1 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Bolten Corporation Osaka-shi, Osaka 85.0 % Steelmaking and Steel Fabrication Nippon Steel & SumikinShapes Corporation Wakayama-shi, Wakayama 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Tubos do Brasil Ltda. State of Rio de Janeiro, Brazil 100.0 % Steelmaking and Steel Fabrication NS-Siam United Steel Co., Ltd. Rayong Province, Thailand 80.2 % Steelmaking and Steel Fabrication National Pipe Company Limited Eastern Province, Saudi Arabia 51.0 % Steelmaking and Steel Fabrication Standard Steel, LLC Pennsylvania State, United States of America 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumitomo Metal U.S.A., Inc. New York State, United States of America 100.0 % Steelmaking and Steel Fabrication PT Pelat Timah Nusantara Tbk. Jakarta City, Indonesia *35.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumitomo Metal (Thailand) Co., Ltd. Bangkok Metropolis, Thailand 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumitomo Metal Australia Pty. Limited New South Wales State, Australia 100.0 % Steelmaking and Steel Fabrication Nippon Steel & Sumikin Steel Processing (Thailand) Co., Ltd. Rayong Province, Thailand 66.5 % Steelmaking and Steel Fabrication Ovako AB Stockholm, Sweden 100.0 % Engineering and Construction Nippon Steel & Sumikin Engineering Co., Ltd. Shinagawa-ku, Tokyo 100.0 % Chemicals & Materials Nippon Steel Chemical & Material Co., Ltd. Chiyoda-ku, Tokyo 100.0 % System Solutions NS Solutions Corporation Chuo-ku, Tokyo 63.4 % * Although the Group holds less than 50% of the voting rights of Geostr Corporation, PT Pelat Timah Nusantara Tbk. and Kurosaki Harima Corporation, it includes the entities in consolidated subsidiaries because it substantially controls the entities. |
Summary of Investments in Associates | Carrying amount of investments in associates is as follows: (Millions of Yen) As of As of Carrying amount of investments in associates 636,216 654,214 Share of net profit or loss and other comprehensive income of associates is as follows: (Millions of Yen) Year Ended Year Ended Year Ended Net profit or loss 49,436 38,199 29,622 Other comprehensive income (18,610 ) (270 ) 11,379 Total 30,826 37,929 41,002 |
Summary of Investments in Joint Ventures | Carrying amount of investments in joint ventures is as follows: (Millions of Yen) As of As of Carrying amount of investments in joint ventures 156,930 145,025 Share of net profit or loss and other comprehensive income of joint ventures is as follows: (Millions of Yen) Year Ended Year Ended Year Ended Net profit or loss 36,975 27,458 14,495 Other comprehensive income (6,030 ) 2,793 (1,108 ) Total 30,944 30,251 13,386 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Components of Deferred Tax Assets and Deferred Tax Liabilities | (a) The components of deferred tax assets and deferred tax liabilities are as follows: (Millions of Yen) As of As of Deferred tax assets Accrued bonus 28,189 26,453 Defined benefit liabilities 66,924 48,011 Impairment losses on non-financial assets 17,888 11,637 Property, plant and equipment 21,552 19,482 Unused tax losses 39,280 29,330 Elimination of unrealized gains on property, plant and equipment and others 31,553 29,681 Accrued expenses for demolition and removal of fixed assets 15,024 13,807 Other 48,820 39,367 Total deferred tax assets 269,234 217,772 Deferred tax liabilities Equity securities (108,609 ) (151,451 ) Defined benefit assets (25,167 ) (33,357 ) Undistributed earnings (31,570 ) (30,904 ) Special tax purpose reserves (43,782 ) (62,466 ) Total deferred tax liabilities (209,130 ) (278,179 ) Net deferred tax assets (liabilities) 60,104 (60,407 ) |
Summary of Changes in Deferred Tax Assets and Liabilities | (b) The changes in net deferred tax assets and liabilities are as follows: (Millions of Yen) Year Ended Year Ended Balance at beginning of the year (60,407 ) (38,993 ) Recognized in profit or loss 88,108 19,575 Recognized in other comprehensive income 37,761 (41,003 ) Effect of changes in consolidation scope (5,268 ) 14 Balance at end of the year 60,104 (60,407 ) |
Details of Deductible Temporary Differences and Unused Tax Losses | (c) Deductible temporary differences and unused tax losses for which no deferred tax assets are recognized are as follows: (Millions of Yen) As of As of Carryforward of unused tax losses 51,390 87,225 Deductible temporary differences 111,242 131,854 Total 162,633 219,080 |
Summary of Components of Unused Tax Losses | (d) The components by expiry date of unused tax losses for which no deferred tax assets are recognized are as follows: (Millions of Yen) As of As of Within 1 year 3,009 30,935 Over 2 years but less than 3 years 5,209 7,774 Over 3 years but less than 4 years 10,640 11,426 Over 4 years but less than 5 years 1,247 17,003 Over 5 years 31,283 20,085 Total 51,390 87,225 |
Details of Income Tax Expense | (a) Details of income tax expense are as follows: (Millions of Yen) Year Ended Year Ended Year Ended Current taxes 79,209 79,124 49,526 Deferred taxes (88,018 ) (19,575 ) (9,229 ) Total (8,809 ) 59,549 40,297 |
Details of Differences Between the Statutory Income Tax and Average Effective Tax Rate | (b) Differences between the statutory income tax rate and the Group’s average effective tax rate consist of the following: Year Ended Year Ended Year Ended Statutory tax rate 30.6 % 30.9 % 30.9 % Share of profit in investments accounted for using the equity method (7.3 ) (4.8 ) (4.5 ) Effects of expense not deductible for tax purposes 0.9 0.9 1.1 Effects of income not taxable for tax purposes (0.6 ) (0.6 ) (1.0 ) Effects of differences in statutory tax rates applied to companies in Japan and foreign companies (1.8 ) (2.3 ) (2.0 ) Effects of changes in unrecognized deferred tax assets (24.0 ) (4.0 ) (8.1 ) Other (1.4 ) 1.9 4.3 Average effective tax rate (3.5 ) 21.9 20.7 |
Trade and Other Payables (Table
Trade and Other Payables (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Components of Trade and Other Payables | The components of trade and other payables are as follows: (Millions of Yen) As of As of Notes and trade accounts payable 821,009 782,605 Other payables 524,167 474,903 Other 266,226 323,087 Total 1,611,403 1,580,597 |
Bonds, Borrowings and Lease L_2
Bonds, Borrowings and Lease Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Statement [LineItems] | |
Schedule of Details of Bonds | (2) Details of bonds (Millions of Yen) Type Issue date As of As of Maturity date Bonds issued by NSC Japanese Yen Corporate Bonds Maturity 2019 February 15, 1999 — 696 February 15, 2019 The 58 th September 2, 2008 — 30,000 June 20, 2018 The 59 th September 2, 2008 10,000 10,000 June 20, 2028 The 61 st December 2, 2008 — 15,000 September 20, 2018 The 63 rd June 9, 2009 20,000 20,000 June 20, 2019 The 64 th April 20, 2010 20,000 20,000 March 19, 2020 The 65 th August 31, 2010 15,000 15,000 June 19, 2020 The 67 th May 24, 2011 30,000 30,000 March 19, 2021 The 65 th May 31, 2011 — 10,000 May 31, 2018 The 68 th October 20, 2011 15,000 15,000 September 17, 2021 The 68 th October 20, 2011 — 10,000 October 19, 2018 The 70 th April 20, 2012 10,000 10,000 April 19, 2019 The 69 th July 20, 2012 10,000 10,000 June 20, 2019 The 70 th July 20, 2012 20,000 20,000 June 20, 2022 The 1 st September 26, 2016 10,000 10,000 September 18, 2026 The 2 nd September 26, 2016 10,000 10,000 September 19, 2031 The 3 rd May 25, 2017 10,000 10,000 May 20, 2024 The 4 th May 25, 2017 10,000 10,000 May 20, 2027 The 5 th December 8, 2017 10,000 10,000 December 20, 2024 The 6 th December 8, 2017 10,000 10,000 December 20, 2027 The 7 th June 12, 2018 20,000 — June 20, 2023 The 8 th June 12, 2018 20,000 — June 20, 2025 The 9 th June 12, 2018 20,000 — June 20, 2028 Bonds issued by Nisshin Steel The 19 th June 2, 2008 — 10,000 June 1, 2018 The 23 rd March 10, 2014 — 10,000 March 8, 2019 Bonds issued by Sanyo Special Steel The 2nd Issue of Unsecured Corporate Bonds December 7, 2017 10,000 — December 6, 2024 Total 280,000 295,696 |
Schedule of Reconciliation of Changes in Liabilities Arising from Financing Activities | The table below presents a reconciliation of main changes in liabilities arising from financing activities. (Millions of Yen) Short-term Commercial Long-term Bonds Lease Total As of March 31, 2017 142,769 31,854 1,595,610 396,005 48,688 2,214,928 Cash flows from financing activities (7,114 ) 57,140 2,672 (100,000 ) (12,377 ) (59,677 ) Effects of changes in consolidation scope 1,331 — 1,435 — (7 ) 2,759 Effects of changes in foreign exchange rates 276 4 (10,865 ) — 196 (10,387 ) Other 60 — (2,886 ) (309 ) 13,267 10,132 As of March 31, 2018 137,323 89,000 1,585,966 295,696 49,768 2,157,755 Cash flows from financing activities 44,401 23,000 102,850 (25,700 ) (9,792 ) 134,760 Effects of changes in consolidation scope 35,073 8,000 20,872 10,000 (65 ) 73,880 Effects of changes in foreign exchange rates (1,220 ) — (2,013 ) — (43 ) (3,277 ) Other (184 ) — (593 ) 3 6,886 6,112 As of March 31, 2019 215,393 120,000 1,707,083 280,000 46,754 2,369,231 |
Bonds, borrowings and lease liabilities [member] | |
Statement [LineItems] | |
Schedule of Details of Bonds | Details of bonds, borrowings and lease liabilities are as follows: (Millions of Yen) As of Average As of Average Maturity date Short-term borrowings 215,393 1.2 137,323 1.0 — Current portion of long-term borrowings repayable within one year 111,177 1.0 184,809 1.0 — Current portion of bonds repayable within one year 60,000 1.4 85,700 1.5 — Current portion of lease liabilities repayable within one year 8,783 0.8 8,550 0.8 — Commercial papers 120,000 (0.0 ) 89,000 (0.0 ) — Long-term borrowings 1,595,905 0.8 1,401,156 0.8 July 19, 2075 Bonds 220,000 0.7 209,996 1.0 September 19, 2031 Lease liabilities 37,970 0.8 41,218 0.8 March 31, 2076 Total 2,369,231 2,157,755 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Summary of Future Minimum Payments under Finance Lease Contracts | Future minimum lease payments under finance lease contracts are as follows: (Millions of Yen) Year ended Year ended Within 1year 8,783 8,550 Over 1 but less than 5 years 21,034 22,582 Over 5 years 16,936 18,635 Total 46,754 49,768 |
Summary of Future Minimum Payments under Non-Cancellable Operating Lease Contracts | The future minimum lease payments under non-cancellable operating lease contracts are as follows: (Millions of Yen) Year ended Year ended Within 1 year 11,371 9,965 Over 1 but less than 5 years 29,434 31,624 Over 5 years 4,994 6,638 Total 45,800 48,228 |
Summary of Future Minimum Payments Expected to be Received under Non-Cancellable Operating Lease Contracts | The future lease payments expected to be received under non-cancellable operating lease contracts are as follows: (Millions of Yen) Year ended Year ended Within 1 year 2,314 1,906 Over 1 but less than 5 years 8,326 6,549 Over 5 years 21,712 7,654 Total 32,353 16,110 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Changes in Present Value of Defined Benefit Obligations and Fair Value of Plan Assets | The changes in the present value of the defined benefit obligations for the Group are as follows: (Millions of Yen) Year ended Year ended Balance at beginning of the year 619,280 650,749 Current service cost 34,137 34,168 Interest cost 2,610 2,591 Actuarial gains and losses 6,183 296 Past service cost (54 ) (5,700 ) Benefits paid (48,542 ) (55,624 ) Other 17,137 (7,199 ) Balance at end of the year 630,754 619,280 The weighted average duration of the defined benefit obligations for the years ended March 31, 2019 and 2018 is 11.9 years and 11.5 years, respectively. (3) Reconciliation of the fair value of the plan assets The changes in the fair value of the plan assets for the Group are as follows: (Millions of Yen) Year ended Year ended Balance at beginning of the year 554,671 545,072 Interest income 2,986 2,788 Return on plan assets, excluding interest income (457 ) 29,550 Employer contributions 13,903 13,765 Benefits paid (29,682 ) (34,637 ) Other (15,174 ) (1,866 ) Balance at end of the year 526,246 554,671 |
Components of Fair Value of Plan Assets by Asset Category | The components of the fair value of plan assets by asset category are as follows: (Millions of Yen) As of As of With quoted With no With quoted With no Bonds 80,469 — 83,441 — Equity investments 208,456 — 249,400 — Cash and cash equivalents 43,857 — 32,799 — General accounts at life insurance company — 126,547 — 123,396 Other — 66,915 — 65,633 Total 332,783 193,463 365,641 189,030 |
Significant Actuarial Assumptions Used to Determine Present Value of Defined Benefit Obligations | The significant actuarial assumptions used to determine the present value of defined benefit obligations for the Company are as follows: As of As of Discount rate 0.3 % 0.3 % |
Effects on Defined Benefit Obligations of Increase in Discount Rates | The effects on defined benefit obligations of increase in the discount rates are as follows: (Millions of Yen) Year ended Year ended Effects of incremental increase in discount rate by 0.5% 33,151 million yen 32,049 million yen |
Equity and Other Equity Items (
Equity and Other Equity Items (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Total Number of Shares Authorized to be Issued and Shares Outstanding | The total number of shares authorized to be issued and shares outstanding are as follows: Number of shares Number of shares As of March 31, 2017 2,000,000 950,321 Changes — — As of March 31, 2018 2,000,000 950,321 Changes — — As of March 31, 2019 2,000,000 950,321 |
Total Number of Treasury Stock Held | The total number of treasury stock held by the Group is as follows: Number of shares As of March 31, 2017 67,674 Changes 36 As of March 31, 2018 67,710 Changes (37,912 ) As of March 31, 2019 29,797 |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Dividends Paid | The dividends paid by the Company are as follows: Year ended March 31, 2019 (1) Dividends paid Date of resolution Class of share Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 26, 2018 Ordinary shares 35,355 40 March 31, 2018 June 27, 2018 Board of directors meeting held on November 2, 2018 Ordinary shares 35,355 40 September 30, 2018 December 3, 2018 (2) Dividends that belong to the current consolidated reporting year but become effective in the subsequent consolidated reporting year Date of resolution Class of share Source of Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 25, 2019 Ordinary shares Retained 36,880 40 March 31, 2019 June 26, 2019 Year ended March 31, 2018 (1) Dividends paid Date of resolution Class of share Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 27, 2017 Ordinary shares 39,776 45 March 31, 2017 June 28, 2017 Board of directors meeting held on October 27, 2017 Ordinary shares 26,517 30 September 30, 2017 November 30, 2017 (2) Dividends that belong to the current consolidated reporting year but become effective in the subsequent consolidated reporting year Date of resolution Class of share Source of Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 26, 2018 Ordinary shares Retained 35,355 40 March 31, 2018 June 27, 2018 Year ended March 31, 2017 (3) Dividends paid Date of resolution Class of share Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 24, 2016 Ordinary shares 13,554 15 March 31, 2016 June 27, 2016 (4) Dividends that belong to the current consolidated reporting year but become effective in the subsequent consolidated reporting year Date of resolution Class of share Source of Total amount of Dividends per Record date Effective date Shareholders’ meeting held on June 27, 2017 Ordinary shares Retained 39,776 45 March 31, 2017 June 28, 2017 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Disaggregation of Revenue from Contracts with Customers and its Relationship with Segment Revenue | Disaggregation of revenue from contracts with customers and its relationship with segment revenue are as follows. Year ended March 31, 2019 (Millions of Yen) Steelmaking Engineering Chemicals System Consolidated Japan 3,431,461 264,674 155,184 201,868 4,053,188 Asia 1,194,440 34,746 78,872 2,831 1,310,890 Middle East 113,180 2 319 — 113,502 Europe 142,335 20,645 4,426 66 167,473 North America 279,575 997 4,055 151 284,779 Central and South America 188,473 279 156 34 188,944 Africa 46,202 — 0 — 46,202 Pacific 12,963 — 0 — 12,964 Total 5,408,633 321,346 243,014 204,952 6,177,947 |
Contract Balances | Contract balances (Millions of Yen) At beginning of the year As of Receivables 685,761 774,803 Contract assets 45,044 67,769 Contract liabilities 22,936 28,488 |
Transaction Price Allocated to Remaining Performance Obligation | Transaction price allocated to the remaining performance obligation (Millions of Yen) As of March 31, 2019 Engineering and System Solutions Within 1 year 259,610 184,782 74,828 Over 1 year 202,262 170,569 31,693 Total 461,872 355,351 106,521 |
Selling, General and Administ_2
Selling, General and Administration Expenses (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Components of Selling, General and Administrative Expenses | The components of selling, general and administrative expenses are as follows: (Millions of Yen) Year ended Year ended Year ended Transportation and storage 161,091 141,873 112,637 Salaries and bonuses 141,390 137,687 122,184 Retirement benefit costs 8,713 7,336 5,897 Research and development costs 58,621 61,019 54,912 Depreciation and amortization 8,693 10,064 7,138 Other 189,901 175,804 163,584 Total 568,409 533,787 466,351 |
Research and Development Costs
Research and Development Costs (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Total Amounts of Research and Development Costs | The total amounts of research and development costs included in “Cost of sales” and “Selling, general and administrative expenses” are as follows: (Millions of Yen) Year ended Year ended Year ended Research and development costs 72,043 74,071 70,100 |
Other Operating Income and Ot_2
Other Operating Income and Other Operating Expenses (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Other Operating Income | Other operating income (Millions of Yen) Year ended Year ended Year ended Dividends received 20,156 17,832 15,005 Foreign exchanges gains (net) 6,152 — — Other 76,296 73,689 47,102 Total 102,606 91,521 62,108 |
Other Operating Expenses | Other operating expenses (Millions of Yen) Year ended Year ended Year ended Foreign exchanges losses (net) — 3,976 9,310 Impairment losses — 18,075 — Losses on disposal of fixed assets 27,665 30,540 32,322 Other 42,455 46,181 39,539 Total 70,120 98,773 81,171 |
Finance Income and Finance Co_2
Finance Income and Finance Costs (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Disclosure Components of Finance Income | Finance income (Millions of Yen) Year ended Year ended Year ended Interest income 6,028 5,710 6,241 Other 76 1,933 81 Total 6,104 7,644 6,322 |
Disclosure Components of Finance costs | Finance costs (Millions of Yen) Year ended Year ended Year ended Interest expense 19,133 21,339 19,292 Other 3,311 3,245 2,293 Total 22,445 24,584 21,586 |
Impairment of Assets (Tables)
Impairment of Assets (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Impairment Losses | Impairment losses Year ended March 31, 2019 (Millions of Yen) Steelmaking and Engineering and Chemicals and System Solutions Adjustments Total 11,909 4,972 — — — 16,882 Year ended March 31, 2018 (Millions of Yen) Steelmaking and Engineering and Chemicals and System Solutions Adjustments Total 9,932 2,472 3,334 2,570 (234 ) 18,075 |
Summay of Carrying Amount of Goodwill by Segment | Impairment test of goodwill The breakdown of the carrying amount of goodwill by segment is as follows: (Millions of Yen) Operating segment As of As of Steelmaking and Steel Fabrication 44,477 28,596 Engineering and Construction 3,300 8,641 Chemicals and Materials — — System Solutions 5,025 5,025 Total 52,803 42,263 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Components of Other Comprehensive Income | The components of other comprehensive income are as follows: Year ended March 31, 2019 (Millions of Yen) Incurred during Reclassification Before tax Tax effect After tax Items that cannot be reclassified to profit or loss Changes in fair value of financial assets measured at fair value through other comprehensive income (138,361 ) — (138,361 ) 33,804 (104,557 ) Remeasurements of defined benefit assets (6,641 ) — (6,641 ) 3,109 (3,531 ) Share of other comprehensive income of investments accounted for using the equity method (2,953 ) — (2,953 ) — (2,953 ) Subtotal (147,956 ) — (147,956 ) 36,913 (111,042 ) Items that might be reclassified to profit or loss Changes in fair value of cash flow hedges 6,155 (4,234 ) 1,921 (398 ) 1,522 Foreign exchange differences on translation of foreign operations (42,391 ) (111 ) (42,502 ) 1,246 (41,256 ) Share of other comprehensive income of investments accounted for using the equity method (21,750 ) 62 (21,687 ) — (21,687 ) Subtotal (57,985 ) (4,283 ) (62,269 ) 847 (61,421 ) Total (205,942 ) (4,283 ) (210,225 ) 37,761 (172,464 ) Year ended March 31, 2018 (Millions of Yen) Incurred during Reclassification Before tax Tax effect After tax Items that cannot be reclassified to profit or loss Changes in fair value of financial assets measured at fair value through other comprehensive income 94,274 — 94,274 (29,051 ) 65,222 Remeasurements of defined benefit assets 29,253 — 29,253 (9,831 ) 19,422 Share of other comprehensive income of investments accounted for using the equity method 5,125 — 5,125 — 5,125 Subtotal 128,653 — 128,653 (38,883 ) 89,770 Items that might be reclassified to profit or loss Changes in fair value of cash flow hedges (2,351 ) 4,678 2,326 (538 ) 1,788 Foreign exchange differences on translation of foreign operations 12,390 (215 ) 12,174 (1,582 ) 10,592 Share of other comprehensive income of investments accounted for using the equity method (2,488 ) (113 ) (2,602 ) — (2,602 ) Subtotal 7,550 4,349 11,899 (2,120 ) 9,778 Total 136,203 4,349 140,552 (41,003 ) 99,548 Year ended March 31, 2017 (Millions of Yen) Incurred during Reclassification Before tax Tax effect After tax Items that cannot be reclassified to profit or loss Changes in fair value of financial assets measured at fair value through other comprehensive income 119,533 — 119,533 (33,263 ) 86,269 Remeasurements of defined benefit assets 33,791 — 33,791 (9,727 ) 24,063 Share of other comprehensive income of investments accounted for using the equity method 406 — 406 — 406 Subtotal 153,732 — 153,732 (42,991 ) 110,740 Items that might be reclassified to profit or loss Changes in fair value of cash flow hedges 5,404 8,533 13,937 (4,485 ) 9,452 Foreign exchange differences on translation of foreign operations (28,332 ) 2,551 (25,781 ) 702 (25,079 ) Share of other comprehensive income of investments accounted for using the equity method 8,008 1,854 9,863 — 9,863 Subtotal (14,919 ) 12,939 (1,980 ) (3,782 ) (5,763 ) Total 138,812 12,939 151,751 (46,774 ) 104,977 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
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Summary of Profit Attributable to Common Shares of the Parent | Profit for the year attributable to common shares of the parent is as follows: (Millions of Yen) Year ended Year ended Year ended Profit for the year attributable to owners of the parent 251,169 180,832 137,246 Profit for the year not attributable to ordinary equity holders of the parent — — — Profit for the year used to calculate basic earnings per share 251,169 180,832 137,246 |
Summary of Weighted Average Number of Ordinary Shares Outstanding | The weighted average number of ordinary shares outstanding is as follows: (Shares) Year ended Year ended Year ended Weighted average number of ordinary shares outstanding 891,387,729 882,629,157 884,959,677 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Statement [LineItems] | |
Schedule of Key Management Indicators to Achieve Medium and Long-term Profit Growth and Stability | The Group identifies Return on Equity (“ROE”) and Debt Equity Ratio (“D/E ratio”) as key management indicators to achieve medium and long-term profit growth and stability of the financial base. ROE is calculated by dividing profit for the year attributable to owners of the parent by the equity attributable to owners of the parent. D/E ratio is calculated by dividing interest-bearing debts by the equity attributable to owners of the parent. As of As of ROE (%) 7.9 6.0 D/E Ratio (times) 0.73 0.69 |
Schedule of Carrying Amounts of Financial Instruments by Classification | The carrying amounts of financial instruments by classification as of March 31, 2019 and 2018 are as follows: As of March 31, 2019 Financial assets (Millions of Yen) Carrying amount Amortized cost Fair value Total FVPL FVOCI Current assets Cash and cash equivalents 163,176 — — 163,176 Trade and other receivables 900,563 — — 900,563 Other financial assets 12,844 590 3,480 16,915 Derivatives — 590 3,480 4,071 Debt instruments 12,844 — — 12,844 Non-current assets Other financial assets 84,211 — 728,456 812,668 Equity instruments — — 718,470 718,470 Derivatives — — 9,985 9,985 Debt instruments 84,211 — — 84,211 Financial liabilities (Millions of Yen) Carrying amount Amortized cost Fair value Total FVPL FVOCI Current liabilities Trade and other payables 1,611,403 — — 1,611,403 Bonds and borrowings 506,571 — — 506,571 Other financial liabilities Derivatives — 258 758 1,017 Non-current liabilities Bonds and borrowings 1,815,905 — — 1,815,905 Other financial liabilities Derivatives — — 6,501 6,501 Other non-current liabilities 142,149 — — 142,149 As of March 31, 2018 Financial assets (Millions of Yen) Carrying amount Amortized cost Fair value Total FVPL FVOCI Current assets Cash and cash equivalents 142,869 — — 142,869 Trade and other receivables 832,040 — — 832,040 Other financial assets 12,351 61 6,765 19,178 Derivatives — 61 6,765 6,827 Debt instruments 12,351 — — 12,351 Non-current assets Other financial assets 74,538 — 933,088 1,007,627 Equity instruments — — 926,465 926,465 Derivatives — — 6,623 6,623 Debt instruments 74,538 — — 74,538 Financial liabilities (Millions of Yen) Carrying amount Amortized cost Fair value Total FVPL FVOCI Current liabilities Trade and other payables 1,580,597 — — 1,580,597 Bonds and borrowings 496,833 — — 496,833 Other financial liabilities Derivatives — 329 344 674 Non-current liabilities Bonds and borrowings 1,611,153 — — 1,611,153 Other financial liabilities Derivatives — — 6,572 6,572 Other non-current liabilities 120,156 — — 120,156 |
Schedule of Financial Instruments Measured at Fair Value | The tables below represent the financial instruments measured at fair value on a recurring basis by level as of March 31, 2019 and March 31, 2018. As of March 31, 2019 Financial assets measured at fair value (Millions of Yen) Level 1 Level 2 Level 3 Total FVPL Other financial assets Derivatives — 590 — 590 FVOCI Other financial assets Equity instruments 638,768 — 79,702 718,470 Derivatives — 13,466 — 13,466 Financial liabilities measured at fair value (Millions of Yen) Level 1 Level 2 Level 3 Total FVPL Other financial liabilities Derivatives — 258 — 258 FVOCI Other financial liabilities Derivatives — 7,260 — 7,260 As of March 31, 2018 Financial assets measured at fair value (Millions of Yen) Level 1 Level 2 Level 3 Total FVPL Other financial assets Derivatives — 61 — 61 FVOCI Other financial assets Equity instruments 847,645 — 78,819 926,465 Derivatives — 13,388 — 13,388 Financial liabilities measured at fair value (Millions of Yen) Level 1 Level 2 Level 3 Total FVPL Other financial liabilities Derivatives — 329 — 329 FVOCI Other financial liabilities Derivatives — 6,917 — 6,917 |
Schedule of Changes in Equity Instruments Measured at Level 3 | The changes of equity instruments measured at Level 3 are as follows: (Millions of Yen) Year ended Year ended Balance at beginning of the year 78,819 83,237 Net changes in fair value 1,122 1,197 Acquisitions 116 54 Sale / settlements (641 ) (2,106 ) Other 286 (3,562 ) Balance at end of the year 79,702 78,819 |
Fair Value Of Significant Equity Instruments Measured at FVOCI | Fair value of significant equity instruments measured at FVOCI by name As of Amount Toyota Motor Corporation 80,312 POSCO 70,952 Suzuki Motor Corporation 38,006 Recruit Holdings 37,110 Central Japan Railway Company 30,633 As of Amount POSCO 96,996 Toyota Motor Corporation 79,778 SUMCO Corporation 64,783 Suzuki Motor Corporation 44,462 Vallourec S.A. 37,466 |
Derecognition of Financial Assets Measured at Fair Value Through Other Comprehensive Income | The Group derecognizes certain financial assets that are measured at fair value through other comprehensive income as a result of disposals through sale occurring as a result of review of business relationships. (Millions of Yen) Year ended Year ended Fair value at the time of derecognition 83,726 37,532 Cumulative gains or losses on disposal (net of tax) 14,679 6,542 |
Summary of Dividends Recognized for the Equity Investments Measured at FVOCI | Dividends recognized for the equity investments measured at FVOCI during the reporting period (Millions of Yen) Year ended Year ended Investment derecognized in the reporting period 2,168 865 Investment held at the end of reporting period 17,988 16,967 Total 20,156 17,832 |
Fair Value of Financial Assets and Liabilities Measured at Amortized Cost | The fair value of financial assets and financial liabilities measured at amortized cost is as follows: (Millions of Yen) As of March 31, 2019 Carrying Fair value Level 1 Level 2 Level 3 Financial assets (Current) Other financial assets Debt instruments 12,844 9,498 0 3,345 Financial assets (Non-current) Other financial assets Debt instruments 84,211 11 7,512 76,699 Financial liabilities (Current) Bonds and borrowings 506,571 60,386 — 446,571 Financial liabilities (Non-current) Bonds and borrowings 1,815,905 224,669 — 1,618,043 (Millions of Yen) As of March 31, 2018 Carrying Fair value Level 1 Level 2 Level 3 Financial assets (Current) Other financial assets Debt instruments 12,351 1,233 3,103 8,018 Financial assets (Non-current) Other financial assets Debt instruments 74,538 23 5,497 69,015 Financial liabilities (Current) Bonds and borrowings 496,833 86,080 — 411,133 Financial liabilities (Non-current) Bonds and borrowings 1,611,153 215,686 — 1,415,613 |
Schedule of Foreign Currency Risk Exposures | The Group’s principal foreign currency risk exposures for the years ended March 31, 2018 and 2019 are as follows. (Millions of USD) As of As of Net exposure (liability) 78 (174 ) |
Schedule of Aging of Trade and Other Receivables | The aging of trade and other receivables is as follows: (Millions of Yen) Days past due As of As of Current 964,845 831,985 Within 90 days 4,991 1,684 Over 90 days and within 1 year 729 363 Over 1 year 173 108 Total 970,740 834,142 |
Schedule of Changes in Allowance for Doubtful Accounts | The changes in allowance for doubtful accounts are as follows: (Millions of Yen) Year ended Year ended Balance at beginning of the year 5,878 5,854 Increase during the year 1,776 1,529 Decrease during the year (696 ) (1,513 ) Other 183 7 Balance at end of the year 7,142 5,878 |
Summary of financial guarantee contracts | The maximum amounts of guarantees that are extended by the Group are described in Note 34 “Loan Guarantees”. As of March 31, 2019 (Millions of Yen) Carrying Total Within 1 year Over 1 year but within 5 years Over 5 years Trade and other payables 1,611,403 1,611,403 1,611,403 — — Borrowings 1,922,476 1,922,476 326,571 657,235 938,670 Bonds 280,000 280,000 60,000 100,000 120,000 Lease liabilities 46,754 46,754 8,783 21,034 16,936 Commercial paper 120,000 120,000 120,000 — — Derivatives 7,519 7,019 2,656 4,363 — Total 3,988,154 3,987,654 2,129,414 782,633 1,075,606 As of March 31, 2018 (Millions of Yen) Carrying Total Within 1 year Over 1 year but within 5 years Over 5 years Trade and other payables 1,580,597 1,580,597 1,580,597 — — Borrowings 1,723,290 1,723,290 322,133 584,131 817,024 Bonds 295,696 295,700 85,700 140,000 70,000 Lease liabilities 49,768 49,768 8,550 22,582 18,635 Commercial paper 89,000 89,000 89,000 — — Derivatives 7,246 8,080 2,279 5,478 323 Total 3,745,600 3,746,436 2,088,260 752,192 905,983 |
Summary of Derivative assets and liabilities as hedging instruments | Derivative assets and liabilities designated as hedging instruments As of March 31, 2019 (Millions of Yen) Types of hedges Derivative assets and liabilities Notional Carrying amount Total Settlement in Assets Liabilities Cash flow hedge Foreign exchange forward contract 217,369 6,762 1,752 750 Interest rate swap 264,704 252,848 730 6,509 Currency swap 67,353 66,280 9,462 — Commodity swap 2,529 1,058 1,519 — Total 551,957 326,949 13,466 7,260 As of March 31, 2018 (Millions of Yen) Types of hedges Derivative assets and liabilities Notional Carrying amount Total Settlement in Assets Liabilities Cash flow hedge Foreign exchange forward contract 246,189 9,113 1,069 303 Interest rate swap 275,939 258,741 601 6,613 Currency swap 83,244 67,353 11,665 — Commodity swap 321 217 52 — Total 605,695 335,425 13,388 6,917 |
Summary of Derivative assets and liabilities not designated as hedges | Derivative assets and liabilities not designated as hedges (Millions of Yen) As of As of Assets Liabilities Assets Liabilities Foreign exchange forward contract 492 248 4 381 Interest swap — — 2 — Currency swap 97 10 118 11 Total 590 258 124 392 |
Summary of Changes in Fair Value of Cash Flow Hedges | Changes in fair value of cash flow hedges The changes in fair value of hedging instruments designated as cash flow hedges of the Group recognized in other comprehensive income in the consolidated statements of comprehensive income or loss are as follows. Year ended March 31, 2019 (Millions of Yen) Risk classification Beginning of Changes in fair Amount End of the The account in which the Foreign currency risk 426 4,407 (4,186 ) 646 Other operating income/Other operating expenses Interest rate risk (5,559 ) 228 5 (5,326 ) Finance income/Finance costs Other 52 1,519 (52 ) 1,519 — Total (5,080 ) 6,155 (4,234 ) (3,159 ) Year ended March 31, 2018 (Millions of Yen) Risk classification Beginning of Changes in fair Amount End of the The account in which the Foreign currency risk (682 ) (3,626 ) 4,734 426 Other operating income/Other operating expenses Interest rate risk (6,762 ) 1,222 (18 ) (5,559 ) Finance income/Finance costs Other 37 52 (37 ) 52 — Total (7,407 ) (2,351 ) 4,678 (5,080 ) |
Currency risk [member] | |
Statement [LineItems] | |
Schedule of Impact on Profit Before Income Taxes in the Consolidated Statement of Profit or Loss | In this analysis, the impacts on the assets and liabilities denominated in foreign currencies as of March 31, 2018 and 2019 are estimated by assuming that variables, such as outstanding balances and interest rates, are constant. (Millions of Yen) Year ended Year ended Impacts on profit before income taxes (86 ) 185 |
Interest rate risk [member] | |
Statement [LineItems] | |
Schedule of Impact on Profit Before Income Taxes in the Consolidated Statement of Profit or Loss | In this analysis, all other variables are assumed to be constant. (Millions of Yen) Year ended Year ended Impacts on profit before income taxes (6,043 ) (5,787 ) |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Summary of Transactions with Related Parties | Details of significant transactions with related parties are as follows: Year ended March 31, 2019 (Millions of Yen) Category Name Description of Amount Account Outstanding Associate Nippon Steel & Sumikin Bussan Corporation Sells steel products 1,170,241 Trade and other receivables 46,251 The terms and conditions applied to related party transactions are determined based on terms equivalent to those that prevail in arm’s length transactions. Year ended March 31, 2018 (Millions of Yen) Category Name Description of Amount Account Outstanding Associate Nippon Steel & Sumikin Bussan Corporation Sells steel products 849,244 Trade and other receivables 39,236 |
Summary of Compensation Paid to Directors | Compensation paid to the directors of the Group is as follows: (Millions of Yen) Year ended Year ended Year ended Salary 935 857 964 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Text block [abstract] | |
Significant Commitments Related to the Acquisition of Assets | Significant commitments related to the acquisition of assets are as follows: (Millions of Yen) As of As of Contractual commitments related to acquisition of property, plant and equipment and intangible assets 393,230 316,808 |
Loan Guarantees (Tables)
Loan Guarantees (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Guarantees for Bank Loans of its Joint Ventures and Associates Which Would Require the Group to Repay the Loan in the Event of Default | The Group provides guarantees for the bank loans of its joint ventures and associates which would require the Group to repay the loan in the event of a default. (Millions of Yen) As of As of Guarantees for the bank loans of joint ventures and associates 62,506 82,721 |
Significant Accounting Polici_4
Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2019SubsidiaryAffiliates | |
Statement [LineItems] | |
Number of consolidated subsidiaries | 420 |
Number of expanded consolidated subsidiaries | 46 |
Number of newly acquired companies | 45 |
Number of newly established companies | 1 |
Number of liquidating companies | 8 |
Number of companies merged | 6 |
Equity method investment number of affiliates | Affiliates | 119 |
Increase in equity method investment number of affiliates | Affiliates | 4 |
Decrease in equity method investment number of affiliates | Affiliates | 8 |
Bottom of range [member] | |
Statement [LineItems] | |
Proportion of voting rights held in associate | 20.00% |
Top of range [member] | |
Statement [LineItems] | |
Proportion of voting rights held in associate | 50.00% |
Significant Accounting Polici_5
Significant Accounting Policies - Summary of Estimated Useful Lives of Property, Plant and Equipment (Detail) | 12 Months Ended |
Mar. 31, 2019 | |
Buildings [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property plant and equipment | Principally 31 years |
Machinery [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property plant and equipment | Principally 14 years |
Significant Accounting Polici_6
Significant Accounting Policies - Summary of Estimated Useful Lives of Intangible Assets (Detail) | 12 Months Ended |
Mar. 31, 2019 | |
Computer software [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets other than goodwill | Principally 5 years |
Mining rights [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets other than goodwill | Principally 25 years |
New Accounting Standards and _2
New Accounting Standards and Interpretations Not Yet Applied - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2019JPY (¥) | |
In accordance with IFRS 16 [member] | Assets and liabilities [member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Increase in accounting estimate | ¥ 31,944 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2019Segment | |
Disclosure of operating segments [abstract] | |
Number of operating segments | 4 |
Segment Information - Summary o
Segment Information - Summary of Segment Revenue, Segment Profit, Segment Assets and Liabilities and Other Items (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |||||
Revenue | |||||||
Revenue from external customers | ¥ 6,177,947 | ¥ 5,712,965 | ¥ 4,696,828 | ||||
Total | 6,177,947 | 5,712,965 | 4,696,828 | ||||
Segment profit | 336,941 | 288,700 | 169,878 | ||||
Other items | |||||||
Finance income | 6,104 | 7,644 | 6,322 | ||||
Finance costs | 22,445 | 24,584 | 21,586 | ||||
Depreciation and amortization | 408,616 | 366,565 | 330,912 | ||||
Share of profit in investments accounted for using the equity method | 86,411 | 65,657 | 44,118 | ||||
Segment assets | 8,049,528 | 7,756,134 | |||||
Investments accounted for using the equity method | 793,146 | 799,239 | |||||
Capital expenditure | 440,830 | 423,428 | 362,525 | ||||
Segment liabilities (Interest-bearing debt) | 2,369,231 | 2,157,755 | |||||
Steelmaking and Steel Fabrication [member] | |||||||
Revenue | |||||||
Revenue from external customers | 5,408,633 | ||||||
Engineering and Construction [member] | |||||||
Revenue | |||||||
Revenue from external customers | 321,346 | ||||||
Chemicals and Materials [member] | |||||||
Revenue | |||||||
Revenue from external customers | 243,014 | ||||||
System Solutions [member] | |||||||
Revenue | |||||||
Revenue from external customers | 204,952 | ||||||
Operating segments [member] | Steelmaking and Steel Fabrication [member] | |||||||
Revenue | |||||||
Revenue from external customers | 5,408,633 | 4,983,335 | 4,016,670 | ||||
Inter-segment revenue or transfers | 45,902 | 33,910 | 35,590 | ||||
Total | 5,454,536 | 5,017,245 | 4,052,261 | ||||
Segment profit | 274,672 | 245,708 | 138,017 | ||||
Other items | |||||||
Finance income | 4,983 | 5,566 | |||||
Finance costs | 20,080 | 17,831 | |||||
Depreciation and amortization | 398,702 | 330,393 | 294,008 | ||||
Share of profit in investments accounted for using the equity method | 76,337 | 116,408 | 70,723 | ||||
Segment assets | 7,404,841 | 7,003,681 | |||||
Investments accounted for using the equity method | 672,853 | 950,887 | |||||
Capital expenditure | 431,775 | 390,623 | 335,733 | ||||
Segment liabilities (Interest-bearing debt) | 2,365,587 | 2,057,997 | |||||
Operating segments [member] | Engineering and Construction [member] | |||||||
Revenue | |||||||
Revenue from external customers | 321,346 | 260,908 | 234,861 | ||||
Inter-segment revenue or transfers | 35,360 | 33,360 | 32,683 | ||||
Total | 356,707 | 294,268 | 267,545 | ||||
Segment profit | 9,474 | 9,110 | 6,838 | ||||
Other items | |||||||
Finance income | 180 | 124 | |||||
Finance costs | 44 | 118 | |||||
Depreciation and amortization | 2,605 | 2,489 | 2,653 | ||||
Share of profit in investments accounted for using the equity method | 801 | 378 | 655 | ||||
Segment assets | 289,083 | 247,696 | |||||
Investments accounted for using the equity method | 6,313 | 4,393 | |||||
Capital expenditure | 3,021 | 6,301 | 5,637 | ||||
Segment liabilities (Interest-bearing debt) | 5,937 | 8,313 | |||||
Operating segments [member] | Chemicals and Materials [member] | |||||||
Revenue | |||||||
Revenue from external customers | 243,014 | 234,108 | 203,115 | ||||
Inter-segment revenue or transfers | 4,052 | 3,709 | 5,630 | ||||
Total | 247,067 | 237,817 | 208,746 | ||||
Segment profit | 25,095 | 17,399 | 6,304 | ||||
Other items | |||||||
Finance income | 38 | 36 | |||||
Finance costs | 172 | 233 | |||||
Depreciation and amortization | 6,644 | 7,329 | 8,227 | ||||
Share of profit in investments accounted for using the equity method | 1,339 | 148 | 920 | ||||
Segment assets | 194,622 | 184,988 | |||||
Investments accounted for using the equity method | 23,629 | 24,843 | |||||
Capital expenditure | 8,855 | 8,497 | 9,229 | ||||
Segment liabilities (Interest-bearing debt) | 7,075 | 11,519 | |||||
Operating segments [member] | System Solutions [member] | |||||||
Revenue | |||||||
Revenue from external customers | 204,952 | 190,310 | 178,242 | ||||
Inter-segment revenue or transfers | 62,550 | 53,889 | 54,270 | ||||
Total | 267,503 | 244,200 | 232,512 | ||||
Segment profit | 26,576 | 23,292 | 22,113 | ||||
Other items | |||||||
Finance income | 146 | 133 | |||||
Finance costs | 11 | 28 | |||||
Depreciation and amortization | 4,872 | 4,646 | 4,174 | ||||
Share of profit in investments accounted for using the equity method | (5) | (10) | 21 | ||||
Segment assets | 231,994 | 223,601 | |||||
Investments accounted for using the equity method | 309 | 17 | |||||
Capital expenditure | 2,542 | 7,638 | 4,343 | ||||
Segment liabilities (Interest-bearing debt) | 2,631 | 3,693 | |||||
Operating segments [member] | Sub Total [member] | |||||||
Revenue | |||||||
Revenue from external customers | 6,177,947 | 5,668,663 | 4,632,890 | ||||
Inter-segment revenue or transfers | 147,867 | 124,868 | 128,175 | ||||
Total | 6,325,814 | 5,793,531 | 4,761,065 | ||||
Segment profit | 335,818 | 295,510 | 173,274 | ||||
Other items | |||||||
Finance income | 5,348 | 5,860 | |||||
Finance costs | 20,309 | 18,212 | |||||
Depreciation and amortization | 412,825 | 344,859 | 309,064 | ||||
Share of profit in investments accounted for using the equity method | 78,473 | 116,925 | 72,320 | ||||
Segment assets | 8,120,542 | 7,659,967 | |||||
Investments accounted for using the equity method | 703,105 | 980,142 | |||||
Capital expenditure | 446,194 | 413,061 | 354,943 | ||||
Segment liabilities (Interest-bearing debt) | 2,381,231 | 2,081,524 | |||||
Adjustments [member] | |||||||
Revenue | |||||||
Inter-segment revenue or transfers | [1] | (147,867) | [2] | (124,868) | [3] | (128,175) | [4] |
Total | [1] | (147,867) | [2] | (124,868) | [3] | (128,175) | [4] |
Segment profit | [1] | 1,122 | [2] | 2,030 | [3] | 1,256 | [4] |
Other items | |||||||
Finance income | [1] | (202) | [3] | (206) | [4] | ||
Finance costs | [1] | (202) | [3] | (206) | [4] | ||
Depreciation and amortization | [1] | (4,208) | [2] | (4,140) | [3] | (4,313) | [4] |
Share of profit in investments accounted for using the equity method | [1] | 7,938 | [2] | 5,750 | [3] | 6,859 | [4] |
Segment assets | [1] | (71,013) | [2] | (67,554) | [3] | ||
Investments accounted for using the equity method | [1] | 90,041 | [2] | 83,614 | [3] | ||
Capital expenditure | [1] | (5,363) | [2] | (1,130) | [3] | (3,905) | [4] |
Segment liabilities (Interest-bearing debt) | [1] | ¥ (12,000) | [2] | (12,527) | [3] | ||
Before application of IFRS adjustments [member] | |||||||
Revenue | |||||||
Revenue from external customers | 5,668,663 | 4,632,890 | |||||
Total | 5,668,663 | 4,632,890 | |||||
Segment profit | 297,541 | 174,531 | |||||
Other items | |||||||
Finance income | 5,146 | 5,654 | |||||
Finance costs | 20,106 | 18,006 | |||||
Depreciation and amortization | 340,719 | 304,751 | |||||
Share of profit in investments accounted for using the equity method | 122,675 | 79,180 | |||||
Segment assets | 7,592,413 | ||||||
Investments accounted for using the equity method | 1,063,757 | ||||||
Capital expenditure | 411,930 | 351,038 | |||||
Segment liabilities (Interest-bearing debt) | 2,068,996 | ||||||
IFRS adjustments [member] | |||||||
Revenue | |||||||
Revenue from external customers | 44,302 | 63,937 | |||||
Total | 44,302 | 63,937 | |||||
Segment profit | (8,840) | (4,652) | |||||
Other items | |||||||
Finance income | 2,498 | 668 | |||||
Finance costs | 4,477 | 3,579 | |||||
Depreciation and amortization | 25,845 | 26,161 | |||||
Share of profit in investments accounted for using the equity method | (57,018) | (35,062) | |||||
Segment assets | 163,721 | ||||||
Investments accounted for using the equity method | (264,517) | ||||||
Capital expenditure | 11,497 | ¥ 11,486 | |||||
Segment liabilities (Interest-bearing debt) | ¥ 88,759 | ||||||
[1] | The adjustments of segment liabilities include the elimination of the Steelmaking and Steel Fabrication segment's borrowings from the System Solutions segment. | ||||||
[2] | The adjustments of segment profit of 1,122 million yen include investment return of 8,237 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., and elimination of inter-segment revenue or transfers of (7,114) million yen. | ||||||
[3] | The adjustments of segment profit of 2,030 million yen include investment return of 5,929 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., and elimination of inter-segment revenue or transfers of (3,899) million yen. | ||||||
[4] | The adjustments of segment profit of 1,256 million yen include investment return of 6,524 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., investment return of 629 million yen from the equity method associate SUMCO Corporation, and elimination of inter-segment revenue or transfers of (5,897) million yen. |
Segment Information - Summary_2
Segment Information - Summary of Segment Revenue, Segment Profit, Segment Assets and Liabilities and Other Items (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |||||
Disclosure of operating segments [line items] | |||||||
Segment profit | ¥ 336,941 | ¥ 288,700 | ¥ 169,878 | ||||
Revenue | 6,177,947 | 5,712,965 | 4,696,828 | ||||
Adjustments [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Segment profit | [1] | 1,122 | [2] | 2,030 | [3] | 1,256 | [4] |
Revenue | [1] | (147,867) | [2] | (124,868) | [3] | (128,175) | [4] |
Nippon Steel Kowa Real Estate Co. Ltd. [member] | Adjustments [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Return investments accounted for using the equity method | 8,237 | 5,929 | 6,524 | ||||
SUMCO Corporation [member] | Adjustments [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Return investments accounted for using the equity method | 629 | ||||||
Inter-segment revenue [member] | Adjustments [member] | |||||||
Disclosure of operating segments [line items] | |||||||
Revenue | ¥ (7,114) | ¥ (3,899) | ¥ (5,897) | ||||
[1] | The adjustments of segment liabilities include the elimination of the Steelmaking and Steel Fabrication segment's borrowings from the System Solutions segment. | ||||||
[2] | The adjustments of segment profit of 1,122 million yen include investment return of 8,237 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., and elimination of inter-segment revenue or transfers of (7,114) million yen. | ||||||
[3] | The adjustments of segment profit of 2,030 million yen include investment return of 5,929 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., and elimination of inter-segment revenue or transfers of (3,899) million yen. | ||||||
[4] | The adjustments of segment profit of 1,256 million yen include investment return of 6,524 million yen from the equity method associate Nippon Steel Kowa Real Estate Co., Ltd., investment return of 629 million yen from the equity method associate SUMCO Corporation, and elimination of inter-segment revenue or transfers of (5,897) million yen. |
Segment Information - Summary_3
Segment Information - Summary of Geographic Areas (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of geographical areas [line items] | |||
Revenue | ¥ 6,177,947 | ¥ 5,712,965 | ¥ 4,696,828 |
Non-current assets | 3,413,896 | 3,272,335 | |
Japan [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 4,053,188 | 3,729,176 | 2,980,400 |
Non-current assets | 2,978,818 | 2,854,097 | |
Overseas [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 2,124,758 | 1,983,789 | 1,716,427 |
Non-current assets | 435,078 | 418,238 | |
Asia [Member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 1,310,890 | 1,274,380 | 1,068,459 |
Other [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | ¥ 813,868 | ¥ 709,409 | ¥ 647,967 |
Segment Information - Summary_4
Segment Information - Summary of Revenue from Major Customers (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of major customers [line items] | |||
Revenue | ¥ 6,177,947 | ¥ 5,712,965 | ¥ 4,696,828 |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Bussan Corporation [member] | |||
Disclosure of major customers [line items] | |||
Revenue | 1,170,241 | 849,244 | 744,657 |
Steelmaking and Steel Fabrication [member] | Sumitomo Corporation [member] | |||
Disclosure of major customers [line items] | |||
Revenue | 762,888 | 772,942 | ¥ 674,139 |
Steelmaking and Steel Fabrication [member] | Metal one corporation [member] | |||
Disclosure of major customers [line items] | |||
Revenue | ¥ 631,639 | ¥ 592,146 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 28, 2019 | Mar. 27, 2019 | Mar. 13, 2017 | Mar. 12, 2017 | Mar. 31, 2019 | Mar. 31, 2017 | Jun. 01, 2018 |
Disclosure of detailed information about business combination [line items] | |||||||
Proceeds from equity financing | ¥ 67,235 | ||||||
OvakoAB [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Cash consideration | 51,767 | ¥ 51,767 | |||||
Acquisition-related costs recognized as selling, general and administrative expenses in the consolidated statements of profit and loss | 1,215 | ||||||
Sanyo Special Steel Co Ltd [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Cash consideration | 67,235 | ||||||
Acquisition-related costs recognized as selling, general and administrative expenses in the consolidated statements of profit and loss | 276 | ||||||
Percentage of equity interests acquired | 36.20% | ||||||
Proportion of ownership interests held by company | 51.50% | 15.30% | |||||
Loss recognized as a result of remeasuring previously held interest to fair value | (4,592) | ||||||
Bargain purchase gain | ¥ 13,578 | ||||||
Nisshin Steel Co Ltd [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Cash consideration | ¥ 75,972 | ||||||
Acquisition-related costs recognized as selling, general and administrative expenses in the consolidated statements of profit and loss | ¥ 627 | ||||||
Percentage of equity interests acquired | 43.00% | ||||||
Proportion of ownership interests held by company | 51.00% | 8.00% |
Business Combinations - Details
Business Combinations - Details of consideration transferred (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Jun. 01, 2018 | Mar. 31, 2017 |
OvakoAB [member] | |||
Disclosure of consideration transferred business combinations [line items] | |||
Cash | ¥ 51,767 | ¥ 51,767 | |
Total consideration transferred | 51,767 | ||
Sanyo Special Steel Co Ltd [member] | |||
Disclosure of consideration transferred business combinations [line items] | |||
Cash | 67,235 | ||
Fair value of equity interests held before the acquisition date | 13,737 | ||
Total consideration transferred | ¥ 80,972 | ||
Nisshin Steel Co Ltd [member] | |||
Disclosure of consideration transferred business combinations [line items] | |||
Cash | ¥ 75,972 | ||
Fair value of equity interests held before the acquisition date | 14,781 | ||
Total consideration transferred | ¥ 90,753 |
Business Combinations - Summary
Business Combinations - Summary of Fair Value of Identifiable Assets Acquired and Liabilities Assumed (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure of detailed information about business combination [line items] | |||
Total equity attributable to owners of the parent | ¥ 3,230,788 | ¥ 3,136,991 | |
OvakoAB [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Current asset | 63,555 | ||
Non-current assets | 53,302 | ||
Total assets | 116,858 | ||
Current liabilities | 70,691 | ||
Non-current liabilities | 17,032 | ||
Total liabilities | 87,724 | ||
Total identifiable net assets acquired | (29,133) | ||
Total equity attributable to owners of the parent | 29,133 | ||
Total consideration transferred | 51,767 | ||
Goodwill | 22,634 | ||
Sanyo Special Steel Co Ltd [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Current asset | 210,344 | ||
Non-current assets | 75,075 | ||
Total assets | 285,419 | ||
Current liabilities | 61,789 | ||
Non-current liabilities | 38,804 | ||
Total liabilities | 100,593 | ||
Total identifiable net assets acquired | 184,826 | ||
Non-controlling interests | 90,274 | ||
Total equity attributable to owners of the parent | 94,551 | ||
Total consideration transferred | 80,972 | ||
Bargain purchase gain | ¥ 13,578 | ||
Nisshin Steel Co Ltd [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Current asset | ¥ 246,040 | ||
Non-current assets | 423,937 | ||
Total assets | 669,978 | ||
Current liabilities | 224,318 | ||
Non-current liabilities | 259,936 | ||
Total liabilities | 484,255 | ||
Total identifiable net assets acquired | 185,722 | ||
Non-controlling interests | 98,105 | ||
Total equity attributable to owners of the parent | 87,616 | ||
Total consideration transferred | 90,753 | ||
Goodwill | ¥ 3,136 |
Business Combinations - Summa_2
Business Combinations - Summary of Net Cash used in the transaction (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Jun. 01, 2018 | Mar. 31, 2017 |
OvakoAB [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Cash consideration transferred | ¥ 51,767 | ¥ 51,767 | |
Cash and cash equivalents held by the acquiree at the acquisition date | (5,961) | ||
Net cash provided in the transaction | 45,805 | ||
Sanyo Special Steel Co Ltd [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Cash consideration transferred | 67,235 | ||
Cash and cash equivalents held by the acquiree at the acquisition date | (79,196) | ||
Net cash provided in the transaction | ¥ (11,961) | ||
Nisshin Steel Co Ltd [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Cash consideration transferred | ¥ 75,972 | ||
Cash and cash equivalents held by the acquiree at the acquisition date | (23,079) | ||
Net cash provided in the transaction | ¥ 52,892 |
Business Combinations - Summa_3
Business Combinations - Summary of Revenue and Profit or Loss of the Group in Business Combination (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2017 | |
Sanyo Special Steel Co Ltd [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Revenue | ¥ 6,363,765 | |
Profit before income taxes | ¥ 259,145 | |
Nisshin Steel Co Ltd [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Revenue | ¥ 5,222,392 | |
Profit before income taxes | ¥ 199,831 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Components of Cash and Cash Equivalents (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Cash and cash equivalents [abstract] | ||||
Cash | ¥ 159,636 | ¥ 138,702 | ¥ 119,793 | |
Cash equivalents | 3,540 | 4,166 | 4,135 | |
Total | ¥ 163,176 | ¥ 142,869 | ¥ 123,929 | ¥ 121,183 |
Trade and Other Receivables- Su
Trade and Other Receivables- Summary of Components of Trade and Other Receivables (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Trade and other receivables [abstract] | ||
Notes and accounts receivable | ¥ 842,573 | ¥ 730,805 |
Other | 128,166 | 103,336 |
Allowance for doubtful receivables | (2,407) | (2,101) |
Total | ¥ 968,333 | ¥ 832,040 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Classes of current inventories [abstract] | ||
Merchandise and finished goods | ¥ 831,597 | ¥ 701,173 |
Work in progress | 87,814 | 72,425 |
Raw materials and supplies | 647,704 | 626,222 |
Total | ¥ 1,567,116 | ¥ 1,399,821 |
Assets Pledged as Collateral -
Assets Pledged as Collateral - Summary of Assets Pledged as Collateral (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Statement [LineItems] | ||
Assets pledged as collateral for liabilities or contingent liabilities | ¥ 35,233 | ¥ 26,373 |
Land [member] | ||
Statement [LineItems] | ||
Assets pledged as collateral for liabilities or contingent liabilities | 11,432 | 10,855 |
Buildings and Structures [member] | ||
Statement [LineItems] | ||
Assets pledged as collateral for liabilities or contingent liabilities | 4,853 | 3,784 |
Machinery Equipment And Vehicles [member] | ||
Statement [LineItems] | ||
Assets pledged as collateral for liabilities or contingent liabilities | 5,471 | 6,826 |
Other [member] | ||
Statement [LineItems] | ||
Assets pledged as collateral for liabilities or contingent liabilities | ¥ 13,475 | ¥ 4,907 |
Secured Debt - Summary of Secur
Secured Debt - Summary of Secured Debt (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Statement [LineItems] | ||
Secured debts | ¥ 10,345 | ¥ 6,801 |
Short-term borrowings [member] | ||
Statement [LineItems] | ||
Secured debts | 3,635 | 970 |
Long-term borrowings [member] | ||
Statement [LineItems] | ||
Secured debts | 6,242 | 5,383 |
Other Debt [member] | ||
Statement [LineItems] | ||
Secured debts | ¥ 467 | ¥ 447 |
Assets Pledged as Collateral _2
Assets Pledged as Collateral - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure assets pledged as collateral [abstract] | ||
Shares Associates Pledge As Collateral | ¥ 1,301 | ¥ 1,261 |
Property Plant And Equipment -
Property Plant And Equipment - Schedule Of Property Plant And Equipment (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | ¥ 3,123,857 | ¥ 3,092,202 |
Acquisitions and reclassified from construction in progress | 468,557 | 402,200 |
Acquisitions through business combinations | 94,331 | |
Disposals and sales | (19,788) | (11,249) |
Depreciation | (387,347) | (344,599) |
Impairment losses | (15,401) | |
Effects of changes in foreign exchange rates | (32,941) | 705 |
Ending Balance | 3,246,669 | 3,123,857 |
Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 12,442,823 | 12,162,552 |
Ending Balance | 13,059,068 | 12,442,823 |
Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 9,318,966 | 9,070,350 |
Ending Balance | 9,812,398 | 9,318,966 |
Land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 652,364 | 654,349 |
Acquisitions and reclassified from construction in progress | 5,967 | 1,831 |
Acquisitions through business combinations | 9,653 | |
Disposals and sales | (5,258) | (2,858) |
Impairment losses | (536) | |
Effects of changes in foreign exchange rates | (1,224) | (421) |
Ending Balance | 661,502 | 652,364 |
Land [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 701,984 | 705,539 |
Ending Balance | 710,235 | 701,984 |
Land [member] | Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 49,620 | 51,189 |
Ending Balance | 48,733 | 49,620 |
Buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 819,277 | 815,580 |
Acquisitions and reclassified from construction in progress | 78,086 | 71,336 |
Acquisitions through business combinations | 20,579 | |
Disposals and sales | (3,660) | (4,081) |
Depreciation | (58,817) | (58,469) |
Impairment losses | (5,955) | |
Effects of changes in foreign exchange rates | (190) | 868 |
Ending Balance | 855,274 | 819,277 |
Buildings [member] | Equipment Under Finance Lease [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 10,748 | 11,895 |
Ending Balance | 10,024 | 10,748 |
Buildings [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 2,607,700 | 2,555,698 |
Ending Balance | 2,730,502 | 2,607,700 |
Buildings [member] | Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 1,788,422 | 1,740,118 |
Ending Balance | 1,875,228 | 1,788,422 |
Machinery Equipment And Vehicles [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 1,286,908 | 1,266,968 |
Acquisitions and reclassified from construction in progress | 363,975 | 277,566 |
Acquisitions through business combinations | 56,261 | |
Disposals and sales | (6,037) | (2,637) |
Depreciation | (272,371) | (257,642) |
Impairment losses | (8,344) | |
Effects of changes in foreign exchange rates | (25,447) | 10,997 |
Ending Balance | 1,403,287 | 1,286,908 |
Machinery Equipment And Vehicles [member] | Equipment Under Finance Lease [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 32,005 | 31,994 |
Ending Balance | 31,701 | 32,005 |
Machinery Equipment And Vehicles [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 8,215,605 | 7,998,199 |
Ending Balance | 8,733,560 | 8,215,605 |
Machinery Equipment And Vehicles [member] | Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 6,928,697 | 6,731,230 |
Ending Balance | 7,330,272 | 6,928,697 |
Tools, furniture and fixtures [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 53,226 | 48,413 |
Acquisitions and reclassified from construction in progress | 85,546 | 24,810 |
Acquisitions through business combinations | 1,082 | |
Disposals and sales | (4,570) | (621) |
Depreciation | (46,659) | (19,000) |
Impairment losses | (564) | |
Effects of changes in foreign exchange rates | 719 | 189 |
Ending Balance | 89,343 | 53,226 |
Tools, furniture and fixtures [member] | Equipment Under Finance Lease [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 4,069 | 2,893 |
Ending Balance | 3,241 | 4,069 |
Tools, furniture and fixtures [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 327,419 | 317,753 |
Ending Balance | 407,619 | 327,419 |
Tools, furniture and fixtures [member] | Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 274,193 | 269,340 |
Ending Balance | 318,276 | 274,193 |
Leased [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 46,823 | 46,783 |
Acquisitions and reclassified from construction in progress | 7,812 | 10,401 |
Disposals and sales | (131) | (246) |
Depreciation | (9,498) | (9,486) |
Effects of changes in foreign exchange rates | (38) | (627) |
Ending Balance | 44,967 | 46,823 |
Leased [member] | Equipment Under Finance Lease [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 46,823 | 46,783 |
Ending Balance | 44,967 | 46,823 |
Leased [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 276,851 | 277,165 |
Ending Balance | 280,382 | 276,851 |
Leased [member] | Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 230,027 | 230,382 |
Ending Balance | 235,414 | 230,027 |
Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 265,258 | 260,106 |
Acquisitions and reclassified from construction in progress | (72,830) | 16,255 |
Acquisitions through business combinations | 6,755 | |
Disposals and sales | (129) | (803) |
Effects of changes in foreign exchange rates | (6,758) | (10,300) |
Ending Balance | 192,294 | 265,258 |
Construction in progress [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 313,262 | 308,196 |
Ending Balance | 196,767 | 313,262 |
Construction in progress [member] | Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 48,003 | 48,089 |
Ending Balance | ¥ 4,473 | ¥ 48,003 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Summary of Carrying Amount of Goodwill and Intangible Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning | ¥ 139,395 | ¥ 142,237 |
Acquisitions | 20,278 | 21,227 |
Acquisitions through business combinations | 40,859 | |
Amortization | (21,268) | (21,965) |
Impairment losses | (10,963) | (2,673) |
Effect of changes in foreign exchange rates | (9,367) | 569 |
Ending | 158,934 | 139,395 |
Goodwill [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning | 42,263 | 44,563 |
Acquisitions through business combinations | 22,634 | |
Impairment losses | (10,963) | (2,472) |
Effect of changes in foreign exchange rates | (1,131) | 173 |
Ending | 52,803 | 42,263 |
Computer software [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning | 46,214 | 47,165 |
Acquisitions | 19,470 | 18,698 |
Acquisitions through business combinations | 1,891 | |
Amortization | (17,868) | (18,443) |
Impairment losses | (139) | |
Effect of changes in foreign exchange rates | (3,079) | (1,066) |
Ending | 46,629 | 46,214 |
Mining rights [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning | 44,221 | 44,630 |
Amortization | (2,198) | (2,306) |
Effect of changes in foreign exchange rates | (4,884) | 1,898 |
Ending | 37,139 | 44,221 |
Other intangible assets [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Beginning | 6,695 | 5,878 |
Acquisitions | 807 | 2,528 |
Acquisitions through business combinations | 16,333 | |
Amortization | (1,202) | (1,215) |
Impairment losses | (61) | |
Effect of changes in foreign exchange rates | (272) | (434) |
Ending | ¥ 22,362 | ¥ 6,695 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Summary of Amortization of Intangible Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of detailed information about intangible assets [line items] | |||
Acquisition cost | ¥ 271,090 | ¥ 225,301 | ¥ 207,236 |
Accumulated amortization and accumulated impairment losses | 112,155 | 85,905 | 64,999 |
Goodwill [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Acquisition cost | 66,238 | 44,736 | 44,563 |
Accumulated amortization and accumulated impairment losses | 13,435 | 2,472 | |
Computer software [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Acquisition cost | 115,358 | 97,253 | 87,236 |
Accumulated amortization and accumulated impairment losses | 68,729 | 51,039 | 40,071 |
Mining rights [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Acquisition cost | 58,617 | 66,107 | 63,304 |
Accumulated amortization and accumulated impairment losses | 21,478 | 21,885 | 18,674 |
Other intangible assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Acquisition cost | 30,875 | 17,203 | 12,131 |
Accumulated amortization and accumulated impairment losses | ¥ 8,512 | ¥ 10,507 | ¥ 6,252 |
Interests in Subsidiaries, As_3
Interests in Subsidiaries, Associates and Others - Summary of Major Subsidiaries of the Company (Detail) | 12 Months Ended |
Mar. 31, 2019 | |
Steelmaking and Steel Fabrication [member] | Sanyo Special Steel Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Himeji-shi, Hyogo |
Voting percentage in subsidiary | 51.50% |
Steelmaking and Steel Fabrication [member] | Nisshin Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chiyoda-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Coated Sheet Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chuo-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Osaka Steel Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Osaka-shi, Osaka |
Voting percentage in subsidiary | 66.30% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Metal Products Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Koto-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Pipe Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chiyoda-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Kurosaki Harima Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Kitakyushu-shi, Fukuoka |
Voting percentage in subsidiary | 47.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Texeng Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chiyoda-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Stainless Steel Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chiyoda-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Logistics Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chuo-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin SG Wire Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chiyoda-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Geostr Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Bunkyo-ku, Tokyo |
Voting percentage in subsidiary | 42.30% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Welding Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Koto-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Drum Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Koto-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Blast Furnace Slag Cement Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Kitakyushu-shi, Fukuoka |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Cement Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Muroran-shi, Hokkaido |
Voting percentage in subsidiary | 85.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Finance Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chiyoda-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Stainless Steel Pipe Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Koga-shi, Ibaraki |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Steel Wire Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Seki-shi, Gifu |
Voting percentage in subsidiary | 51.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Eco Tech Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chuo-ku, Tokyo |
Voting percentage in subsidiary | 85.10% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Bussan Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Osaka-shi, Osaka |
Voting percentage in subsidiary | 85.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Shapes Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Wakayama-shi, Wakayama |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel And Sumikin Tubosdo Brasil Ltda [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | State of Rio de Janeiro, Brazil |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | NS-Siam United Steel Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Rayong Province, Thailand |
Voting percentage in subsidiary | 80.20% |
Steelmaking and Steel Fabrication [member] | National Pipe Company Limited [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Eastern Province, Saudi Arabia |
Voting percentage in subsidiary | 51.00% |
Steelmaking and Steel Fabrication [member] | Standard Steel LLC [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Pennsylvania State, United States of America |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumitomo Metal USA Inc [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | New York State, United States of America |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | PT Pelat Timah Nusantara Tbk [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Jakarta City, Indonesia |
Voting percentage in subsidiary | 35.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumitomo Metal (Thailand) Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Bangkok Metropolis, Thailand |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumitomo Metal Australia Pty Limited [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | New South Wales State, Australia |
Voting percentage in subsidiary | 100.00% |
Steelmaking and Steel Fabrication [member] | Nippon Steel and Sumikin Steel Processing Thailand Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Rayong Province, Thailand |
Voting percentage in subsidiary | 66.50% |
Steelmaking and Steel Fabrication [member] | OvakoAB [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Stockholm, Sweden |
Voting percentage in subsidiary | 100.00% |
Engineering and Construction [member] | Nippon Steel and Sumikin Engineering Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Shinagawa-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
Chemicals and Materials [member] | Nippon Steel Chemical and Material Co Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chiyoda-ku, Tokyo |
Voting percentage in subsidiary | 100.00% |
System Solutions [member] | NS Solutions Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Address of subsidiary | Chuo-ku, Tokyo |
Voting percentage in subsidiary | 63.40% |
Interests in Subsidiaries, As_4
Interests in Subsidiaries, Associates and Others - Summary of Major Subsidiaries of the Company (Parenthetical) (Detail) | 12 Months Ended |
Mar. 31, 2019 | |
Maximum [Member] | Steelmaking and Steel Fabrication [member] | |
Disclosure of subsidiaries [line items] | |
Percentage of voting rights | 50.00% |
Interests in Subsidiaries, As_5
Interests in Subsidiaries, Associates and Others - Summary of Investments in Associates (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of associates [line items] | |||
Carrying amount of investments in associates | ¥ 636,216 | ¥ 654,214 | |
Net profit or loss | 257,579 | 212,210 | ¥ 154,483 |
Other comprehensive income | (172,464) | 99,548 | 104,977 |
Associates [member] | |||
Disclosure of associates [line items] | |||
Net profit or loss | 49,436 | 38,199 | 29,622 |
Other comprehensive income | (18,610) | (270) | 11,379 |
Total | ¥ 30,826 | ¥ 37,929 | ¥ 41,002 |
Interests in Subsidiaries, As_6
Interests in Subsidiaries, Associates and Others - Summary of Investments in Joint Ventures (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of joint ventures [line items] | |||
Carrying amount of investments in joint ventures | ¥ 156,930 | ¥ 145,025 | |
Net profit or loss | 257,579 | 212,210 | ¥ 154,483 |
Other comprehensive income | (172,464) | 99,548 | 104,977 |
Joint ventures [member] | |||
Disclosure of joint ventures [line items] | |||
Net profit or loss | 36,975 | 27,458 | 14,495 |
Other comprehensive income | (6,030) | 2,793 | (1,108) |
Total | ¥ 30,944 | ¥ 30,251 | ¥ 13,386 |
Interests in Subsidiaries, As_7
Interests in Subsidiaries, Associates and Others - Additional Information (Detail) | Mar. 31, 2019JPY (¥) |
Disclosure of Associates and Joint Venture [abstract] | |
Individually significant investments in associates accounted for under equity method | ¥ 0 |
Individually significant investments in joint ventures accounted for under equity method | ¥ 0 |
Income Taxes - Components of De
Income Taxes - Components of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Deferred tax assets | |||
Accrued bonus | ¥ 28,189 | ¥ 26,453 | |
Defined benefit liabilities | 66,924 | 48,011 | |
Impairment losses on non-financial assets | 17,888 | 11,637 | |
Property, plant and equipment | 21,552 | 19,482 | |
Unused tax losses | 39,280 | 29,330 | |
Elimination of unrealized gains on property, plant and equipment and others | 31,553 | 29,681 | |
Accrued expenses for demolition and removal of fixed assets | 15,024 | 13,807 | |
Other | 48,820 | 39,367 | |
Total deferred tax assets | 269,234 | 217,772 | |
Deferred tax liabilities | |||
Equity securities | (108,609) | (151,451) | |
Defined benefit assets | (25,167) | (33,357) | |
Undistributed earnings | (31,570) | (30,904) | |
Special tax purpose reserves | (43,782) | (62,466) | |
Total deferred tax liabilities | (209,130) | (278,179) | |
Net deferred tax assets (liabilities) | ¥ 60,104 | ¥ (60,407) | ¥ (38,993) |
Income Taxes - Summary of Chang
Income Taxes - Summary of Changes in Deferred Tax Assets and Liabilities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |||
Balance at beginning of the year | ¥ (60,407) | ¥ (38,993) | |
Recognized in profit or loss | 88,108 | 19,575 | |
Recognized in other comprehensive income | 37,761 | (41,003) | ¥ (46,774) |
Effect of changes in consolidation scope | (5,268) | 14 | |
Balance at end of the year | ¥ 60,104 | ¥ (60,407) | ¥ (38,993) |
Income Taxes - Details of Deduc
Income Taxes - Details of Deductible Temporary Differences and Unused Tax Losses (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | ||
Carryforward of unused tax losses | ¥ 51,390 | ¥ 87,225 |
Deductible temporary differences | 111,242 | 131,854 |
Total | ¥ 162,633 | ¥ 219,080 |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Unused Tax Losses (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Carryforward of unused tax losses | ¥ 51,390 | ¥ 87,225 |
Within 1 year [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Carryforward of unused tax losses | 3,009 | 30,935 |
Over 2 years but less than 3 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Carryforward of unused tax losses | 5,209 | 7,774 |
Over 3 years but less than 4 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Carryforward of unused tax losses | 10,640 | 11,426 |
Over 4 years but less than 5 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Carryforward of unused tax losses | 1,247 | 17,003 |
Over 5 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Carryforward of unused tax losses | ¥ 31,283 | ¥ 20,085 |
Income Taxes - Details of Incom
Income Taxes - Details of Income Tax Expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of income tax expense [abstract] | |||
Current taxes | ¥ 79,209 | ¥ 79,124 | ¥ 49,526 |
Deferred taxes | (88,018) | (19,575) | (9,229) |
Total | ¥ (8,809) | ¥ 59,549 | ¥ 40,297 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Income Taxes [line items] | |||
Tax rate | 30.60% | 30.90% | 30.90% |
Reduction in deferred tax due to change in tax rate | ¥ (6,253) | ||
United States [member] | |||
Disclosure Of Income Taxes [line items] | |||
Tax rate | 21.00% | 35.00% |
Income Taxes - Details of Diffe
Income Taxes - Details of Differences Between the Statutory Income Tax and Average Effective Tax Rate (Detail) | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Reconciliation of average effective tax rate and applicable tax rate [abstract] | |||
Statutory tax rate | 30.60% | 30.90% | 30.90% |
Share of profit in investments accounted for using the equity method | (7.30%) | (4.80%) | (4.50%) |
Effects of expense not deductible for tax purposes | 0.90% | 0.90% | 1.10% |
Effects of income not taxable for tax purposes | (0.60%) | (0.60%) | (1.00%) |
Effects of differences in statutory tax rates applied to companies in Japan and foreign companies | (1.80%) | (2.30%) | (2.00%) |
Effects of changes in unrecognized deferred tax assets | (24.00%) | (4.00%) | (8.10%) |
Other | (1.40%) | 1.90% | 4.30% |
Average effective tax rate | (3.50%) | 21.90% | 20.70% |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Components of Trade and Other Payables (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Subclassifications of assets, liabilities and equities [abstract] | ||
Notes and trade accounts payable | ¥ 821,009 | ¥ 782,605 |
Other payables | 524,167 | 474,903 |
Other | 266,226 | 323,087 |
Total | ¥ 1,611,403 | ¥ 1,580,597 |
Bonds, Borrowings and Lease L_3
Bonds, Borrowings and Lease Liabilities - Schedule of Details of Bonds, Borrowings and Lease Liabilities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 2,369,231 | ¥ 2,157,755 |
Short-term borrowings [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 215,393 | ¥ 137,323 |
Average interest rate | 1.20% | 1.00% |
Current portion of long-term borrowings repayable within one year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 111,177 | ¥ 184,809 |
Average interest rate | 1.00% | 1.00% |
Current portion of bonds repayable within one year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 60,000 | ¥ 85,700 |
Average interest rate | 1.40% | 1.50% |
Current portion of lease liabilities repayable within one year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 8,783 | ¥ 8,550 |
Average interest rate | 0.80% | 0.80% |
Commercial papers [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 120,000 | ¥ 89,000 |
Average interest rate | 0.00% | 0.00% |
Long-term borrowings [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 1,595,905 | ¥ 1,401,156 |
Average interest rate | 0.80% | 0.80% |
Maturity date | July 19, 2075 | |
Noncurrent bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 220,000 | ¥ 209,996 |
Average interest rate | 0.70% | 1.00% |
Maturity date | September 19, 2031 | |
Lease liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 37,970 | ¥ 41,218 |
Average interest rate | 0.80% | 0.80% |
Maturity date | March 31, 2076 |
Bonds, Borrowings and Lease L_4
Bonds, Borrowings and Lease Liabilities - Schedule of Details of Bonds (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of detailed information about borrowings [line items] | ||
Carrying Amount | ¥ 2,369,231 | ¥ 2,157,755 |
Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Carrying Amount | ¥ 280,000 | 295,696 |
Bonds [member] | Japanese Yen Corporate Bonds Maturity 2019 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Feb. 15, 1999 | |
Carrying Amount | 696 | |
Maturity date | February 15, 2019 | |
Bonds [member] | The 58th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Sep. 2, 2008 | |
Carrying Amount | 30,000 | |
Maturity date | June 20, 2018 | |
Bonds [member] | The 59th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Sep. 2, 2008 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | June 20, 2028 | |
Bonds [member] | The 61st Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Dec. 2, 2008 | |
Carrying Amount | 15,000 | |
Maturity date | September 20, 2018 | |
Bonds [member] | The 63rd Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Jun. 9, 2009 | |
Carrying Amount | ¥ 20,000 | 20,000 |
Maturity date | June 20, 2019 | |
Bonds [member] | The 64th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Apr. 20, 2010 | |
Carrying Amount | ¥ 20,000 | 20,000 |
Maturity date | March 19, 2020 | |
Bonds [member] | The 65th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Aug. 31, 2010 | |
Carrying Amount | ¥ 15,000 | 15,000 |
Maturity date | June 19, 2020 | |
Bonds [member] | The 67th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | May 24, 2011 | |
Carrying Amount | ¥ 30,000 | 30,000 |
Maturity date | March 19, 2021 | |
Bonds [member] | The 65th No2 Issue Of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | May 31, 2011 | |
Carrying Amount | 10,000 | |
Maturity date | May 31, 2018 | |
Bonds [member] | The 68th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Oct. 20, 2011 | |
Carrying Amount | ¥ 15,000 | 15,000 |
Maturity date | September 17, 2021 | |
Bonds [member] | The 68th No2 Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Oct. 20, 2011 | |
Carrying Amount | 10,000 | |
Maturity date | October 19, 2018 | |
Bonds [member] | The 70th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Apr. 20, 2012 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | April 19, 2019 | |
Bonds [member] | The 69th No2 Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Jul. 20, 2012 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | June 20, 2019 | |
Bonds [member] | The 70th No2 Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Jul. 20, 2012 | |
Carrying Amount | ¥ 20,000 | 20,000 |
Maturity date | June 20, 2022 | |
Bonds [member] | The 1st Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Sep. 26, 2016 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | September 18, 2026 | |
Bonds [member] | The 2nd Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Sep. 26, 2016 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | September 19, 2031 | |
Bonds [member] | The 3rd Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | May 25, 2017 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | May 20, 2024 | |
Bonds [member] | The 4th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | May 25, 2017 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | May 20, 2027 | |
Bonds [member] | The 5th Issue Of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Dec. 8, 2017 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | December 20, 2024 | |
Bonds [member] | The 6th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Dec. 8, 2017 | |
Carrying Amount | ¥ 10,000 | 10,000 |
Maturity date | December 20, 2027 | |
Bonds [member] | The 7th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Jun. 12, 2018 | |
Carrying Amount | ¥ 20,000 | |
Maturity date | June 20, 2023 | |
Bonds [member] | The 8th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Jun. 12, 2018 | |
Carrying Amount | ¥ 20,000 | |
Maturity date | June 20, 2025 | |
Bonds [member] | The 9th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Jun. 12, 2018 | |
Carrying Amount | ¥ 20,000 | |
Maturity date | June 20, 2028 | |
Bonds [member] | The 19th Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Jun. 2, 2008 | |
Carrying Amount | 10,000 | |
Maturity date | June 1, 2018 | |
Bonds [member] | The 23rd Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Mar. 10, 2014 | |
Carrying Amount | ¥ 10,000 | |
Maturity date | March 8, 2019 | |
Bonds [member] | The 2nd Issue of Unsecured Corporate Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue date | Dec. 7, 2017 | |
Carrying Amount | ¥ 10,000 | |
Maturity date | December 6, 2024 |
Bonds, Borrowings and Lease L_5
Bonds, Borrowings and Lease Liabilities - Schedule of Reconciliation of Changes in Liabilities Arising from Financing Activities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | ¥ 2,157,755 | ¥ 2,214,928 |
Cash flows from financing activities | 134,760 | (59,677) |
Effects of changes in consolidation scope | 73,880 | 2,759 |
Effects of changes in foreign exchange rates | (3,277) | (10,387) |
Other | 6,112 | 10,132 |
Ending Balance | 2,369,231 | 2,157,755 |
Short-term borrowings [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | 137,323 | 142,769 |
Cash flows from financing activities | 44,401 | (7,114) |
Effects of changes in consolidation scope | 35,073 | 1,331 |
Effects of changes in foreign exchange rates | (1,220) | 276 |
Other | (184) | 60 |
Ending Balance | 215,393 | 137,323 |
Commercial papers [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | 89,000 | 31,854 |
Cash flows from financing activities | 23,000 | 57,140 |
Effects of changes in consolidation scope | 8,000 | |
Effects of changes in foreign exchange rates | 4 | |
Ending Balance | 120,000 | 89,000 |
Long-term borrowings [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | 1,585,966 | 1,595,610 |
Cash flows from financing activities | 102,850 | 2,672 |
Effects of changes in consolidation scope | 20,872 | 1,435 |
Effects of changes in foreign exchange rates | (2,013) | (10,865) |
Other | (593) | (2,886) |
Ending Balance | 1,707,083 | 1,585,966 |
Bonds [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | 295,696 | 396,005 |
Cash flows from financing activities | (25,700) | (100,000) |
Effects of changes in consolidation scope | 10,000 | |
Other | 3 | (309) |
Ending Balance | 280,000 | 295,696 |
Lease liabilities [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | 49,768 | 48,688 |
Cash flows from financing activities | (9,792) | (12,377) |
Effects of changes in consolidation scope | (65) | (7) |
Effects of changes in foreign exchange rates | (43) | 196 |
Other | 6,886 | 13,267 |
Ending Balance | ¥ 46,754 | ¥ 49,768 |
Leases - Summary of Future Mini
Leases - Summary of Future Minimum Payments under Finance Lease Contracts (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments under finance lease contracts | ¥ 46,754 | ¥ 49,768 |
Within 1 year [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments under finance lease contracts | 8,783 | 8,550 |
Over 1 but less than 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments under finance lease contracts | 21,034 | 22,582 |
Over 5 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Future minimum lease payments under finance lease contracts | ¥ 16,936 | ¥ 18,635 |
Leases - Summary of Future Mi_2
Leases - Summary of Future Minimum Payments under Non-Cancellable Operating Lease Contracts (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future minimum lease payments under non-cancellable operating lease contracts | ¥ 45,800 | ¥ 48,228 |
Within 1 year [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future minimum lease payments under non-cancellable operating lease contracts | 11,371 | 9,965 |
Over 1 but less than 5 years [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future minimum lease payments under non-cancellable operating lease contracts | 29,434 | 31,624 |
Over 5 years [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future minimum lease payments under non-cancellable operating lease contracts | ¥ 4,994 | ¥ 6,638 |
Leases - Additional Information
Leases - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of finance lease and operating lease by lessee [abstract] | ||
Operating lease expenses under non-cancellable operating lease contracts recognized | ¥ 10,356 | ¥ 9,597 |
Leases - Summary of Future Mi_3
Leases - Summary of Future Minimum Payments Expected to be Received under Non-Cancellable Operating Lease Contracts (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments expected to be received under non-cancellable operating lease contracts | ¥ 32,353 | ¥ 16,110 |
Within 1 year [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments expected to be received under non-cancellable operating lease contracts | 2,314 | 1,906 |
Over 1 but less than 5 years [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments expected to be received under non-cancellable operating lease contracts | 8,326 | 6,549 |
Over 5 years [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments expected to be received under non-cancellable operating lease contracts | ¥ 21,712 | ¥ 7,654 |
Employee Benefits - Changes in
Employee Benefits - Changes in Present Value of Defined Benefit Obligations for the Group (Detail) - Present value of defined benefit obligation [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of the year | ¥ 619,280 | ¥ 650,749 |
Current service cost | 34,137 | 34,168 |
Interest cost | 2,610 | 2,591 |
Actuarial gains and losses | 6,183 | 296 |
Past service cost | (54) | (5,700) |
Benefits paid | (48,542) | (55,624) |
Other | 17,137 | (7,199) |
Balance at end of the year | ¥ 630,754 | ¥ 619,280 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019JPY (¥)yr | Mar. 31, 2018JPY (¥)yr | Mar. 31, 2017JPY (¥) | |
Disclosure of defined benefit plans [abstract] | |||
Weighted average duration of the defined benefit obligations | yr | 11.9 | 11.5 | |
Expected contribution to defined benefit plans for the year ending March 31, 2020 | ¥ 12,461 | ||
Amounts recognized as expenses for defined contribution plans | 6,557 | ¥ 5,008 | ¥ 4,926 |
Employee benefits expenses incurred | ¥ 869,640 | ¥ 831,273 | ¥ 753,712 |
Employee Benefits - Changes i_2
Employee Benefits - Changes in Fair Value of Plan Assets for the Group (Detail) - Plan assets [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of the year | ¥ 554,671 | ¥ 545,072 |
Interest income | 2,986 | 2,788 |
Return on plan assets, excluding interest income | (457) | 29,550 |
Employer contributions | 13,903 | 13,765 |
Benefits paid | (29,682) | (34,637) |
Other | (15,174) | (1,866) |
Balance at end of the year | ¥ 526,246 | ¥ 554,671 |
Employee Benefits - Components
Employee Benefits - Components of Fair Value of Plan Asset by Asset Category (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
With quoted market price in an active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Bonds | ¥ 80,469 | ¥ 83,441 |
Equity investments | 208,456 | 249,400 |
Cash and cash equivalents | 43,857 | 32,799 |
Total | 332,783 | 365,641 |
With no quoted market price in an active market [member] | ||
Disclosure of fair value of plan assets [line items] | ||
General accounts at life insurance company | 126,547 | 123,396 |
Other | 66,915 | 65,633 |
Total | ¥ 193,463 | ¥ 189,030 |
Employee Benefits - Significant
Employee Benefits - Significant Actuarial Assumptions Used to Determine Present Value of Defined Benefit Obligations (Detail) | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of defined benefit plans [abstract] | ||
Discount rate | 0.30% | 0.30% |
Employee Benefits - Effects on
Employee Benefits - Effects on Defined Benefit Obligations of Increase in Discount Rates (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Actuarial assumption of discount rates [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Effects of incremental increase in discount rate by 0.5% | ¥ (33,151) | ¥ (32,049) |
Employee Benefits - Effects o_2
Employee Benefits - Effects on Defined Benefit Obligations of Increase in Discount Rates (Parenthetical) (Detail) | Mar. 31, 2019 | Mar. 31, 2018 |
Actuarial assumption of discount rates [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Incremental increase percentage | 0.50% | 0.50% |
Equity and Other Equity Items -
Equity and Other Equity Items - Total Number of Shares Authorized to be Issued and Shares Outstanding (Detail) - shares shares in Thousands | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of classes of share capital [abstract] | ||
Number of shares authorized to be issued, beginning balance | 2,000,000 | 2,000,000 |
Changes | 0 | 0 |
Number of shares authorized to be issued, ending balance | 2,000,000 | 2,000,000 |
Number of shares outstanding, beginning balance | 950,321 | 950,321 |
Changes | 0 | 0 |
Number of shares outstanding, ending balance | 950,321 | 950,321 |
Equity and Other Equity Items_2
Equity and Other Equity Items - Total Number of Treasury Stock Held (Detail) - shares shares in Thousands | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of classes of share capital [abstract] | ||
Number of treasury stock held by the Group, beginning balance | 67,710 | 67,674 |
Changes | (37,912) | 36 |
Number of treasury stock held by the Group, ending balance | 29,797 | 67,710 |
Equity and Other Equity Items_3
Equity and Other Equity Items - Additional Information (Detail) shares in Thousands | Mar. 31, 2019shares |
Nisshin Steel [member] | Treasury stock [member] | |
Disclosure of classes of share capital [line items] | |
Shares used to acquire through share exchange | 38,161 |
Dividends - Dividends Paid (Det
Dividends - Dividends Paid (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | Nov. 02, 2018 | Jun. 26, 2018 | Oct. 27, 2017 | Jun. 27, 2017 | Jun. 24, 2016 |
Disclosure of dividend [abstract] | |||||
Total amount of dividends (Millions of Yen) | ¥ 35,355 | ¥ 35,355 | ¥ 26,517 | ¥ 39,776 | ¥ 13,554 |
Dividends per share (Yen) | ¥ 40 | ¥ 40 | ¥ 30 | ¥ 45 | ¥ 15 |
Record date | Sep. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2017 | Mar. 31, 2017 | Mar. 31, 2016 |
Effective date | Dec. 3, 2018 | Jun. 27, 2018 | Nov. 30, 2017 | Jun. 28, 2017 | Jun. 27, 2016 |
Dividends - Dividends that Belo
Dividends - Dividends that Belong to Current Consolidated Reporting Year but Become Effective in Subsequent Consolidated Reporting Year (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of dividend [abstract] | |||
Total amount of dividends (Millions of Yen) | ¥ 36,880 | ¥ 35,355 | ¥ 39,776 |
Dividends per share (Yen) | ¥ 40 | ¥ 40 | ¥ 45 |
Record date | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 |
Effective date | Jun. 26, 2019 | Jun. 27, 2018 | Jun. 28, 2017 |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue from Contracts with Customers and its Relationship with Segment Revenue (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | ¥ 6,177,947 | ¥ 5,712,965 | ¥ 4,696,828 |
Japan [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 4,053,188 | ||
Asia [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 1,310,890 | ||
Middle East [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 113,502 | ||
Europe [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 167,473 | ||
North America [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 284,779 | ||
Central and South America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 188,944 | ||
Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 46,202 | ||
Pacific [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 12,964 | ||
Steelmaking and Steel Fabrication [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 5,408,633 | ||
Steelmaking and Steel Fabrication [member] | Japan [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 3,431,461 | ||
Steelmaking and Steel Fabrication [member] | Asia [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 1,194,440 | ||
Steelmaking and Steel Fabrication [member] | Middle East [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 113,180 | ||
Steelmaking and Steel Fabrication [member] | Europe [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 142,335 | ||
Steelmaking and Steel Fabrication [member] | North America [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 279,575 | ||
Steelmaking and Steel Fabrication [member] | Central and South America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 188,473 | ||
Steelmaking and Steel Fabrication [member] | Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 46,202 | ||
Steelmaking and Steel Fabrication [member] | Pacific [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 12,963 | ||
Engineering and Construction [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 321,346 | ||
Engineering and Construction [member] | Japan [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 264,674 | ||
Engineering and Construction [member] | Asia [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 34,746 | ||
Engineering and Construction [member] | Middle East [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 2 | ||
Engineering and Construction [member] | Europe [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 20,645 | ||
Engineering and Construction [member] | North America [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 997 | ||
Engineering and Construction [member] | Central and South America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 279 | ||
Chemicals and Materials [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 243,014 | ||
Chemicals and Materials [member] | Japan [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 155,184 | ||
Chemicals and Materials [member] | Asia [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 78,872 | ||
Chemicals and Materials [member] | Middle East [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 319 | ||
Chemicals and Materials [member] | Europe [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 4,426 | ||
Chemicals and Materials [member] | North America [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 4,055 | ||
Chemicals and Materials [member] | Central and South America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 156 | ||
Chemicals and Materials [member] | Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 0 | ||
Chemicals and Materials [member] | Pacific [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 0 | ||
System Solutions [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 204,952 | ||
System Solutions [member] | Japan [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 201,868 | ||
System Solutions [member] | Asia [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 2,831 | ||
System Solutions [member] | Europe [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 66 | ||
System Solutions [member] | North America [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 151 | ||
System Solutions [member] | Central and South America [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | ¥ 34 |
Revenue - Contract Balances (De
Revenue - Contract Balances (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Apr. 01, 2018 |
Disclosure Of Changes In Contract Assets And Contract Liabilities [abstract] | ||
Receivables | ¥ 774,803 | ¥ 685,761 |
Contract assets | 67,769 | 45,044 |
Contract liabilities | ¥ 28,488 | ¥ 22,936 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2019JPY (¥) | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Amount included in the contract liabilities as of April 1, 2018 and recognized as revenue for the year ended March 31, 2019 | ¥ 20,099 |
Revenue - Transaction Price All
Revenue - Transaction Price Allocated to Remaining Performance Obligation (Detail) ¥ in Millions | Mar. 31, 2019JPY (¥) |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | ¥ 461,872 |
Within 1 year [member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | 259,610 |
Over 1 year [member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | 202,262 |
Engineering and Construction [member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | 355,351 |
Engineering and Construction [member] | Within 1 year [member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | 184,782 |
Engineering and Construction [member] | Over 1 year [member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | 170,569 |
System Solutions [member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | 106,521 |
System Solutions [member] | Within 1 year [member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | 74,828 |
System Solutions [member] | Over 1 year [member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Transaction price allocated to the remaining performance obligation | ¥ 31,693 |
Selling, General and Administ_3
Selling, General and Administration Expenses - Components of Selling, General and Administrative Expenses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of selling general and administrative expenses [line items] | |||
Retirement benefit costs | ¥ 869,640 | ¥ 831,273 | ¥ 753,712 |
Research and development costs | 72,043 | 74,071 | 70,100 |
Depreciation and amortization | 408,616 | 366,565 | 330,912 |
Total | 568,409 | 533,787 | 466,351 |
Selling general and administrative expenses [member] | |||
Disclosure of selling general and administrative expenses [line items] | |||
Transportation and storage | 161,091 | 141,873 | 112,637 |
Salaries and bonuses | 141,390 | 137,687 | 122,184 |
Retirement benefit costs | 8,713 | 7,336 | 5,897 |
Research and development costs | 58,621 | 61,019 | 54,912 |
Depreciation and amortization | 8,693 | 10,064 | 7,138 |
Other | 189,901 | 175,804 | 163,584 |
Total | ¥ 568,409 | ¥ 533,787 | ¥ 466,351 |
Research and Development Cost_2
Research and Development Costs - Total Amounts of Research and Development Costs (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Expenses by nature [abstract] | |||
Research and development costs | ¥ 72,043 | ¥ 74,071 | ¥ 70,100 |
Other Operating Income and Ot_3
Other Operating Income and Other Operating Expenses - Other Operating Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Dividends received | ¥ 20,156 | ¥ 17,832 | ¥ 15,005 |
Foreign exchanges gains (net) | 6,152 | ||
Other | 76,296 | 73,689 | 47,102 |
Total | ¥ 102,606 | ¥ 91,521 | ¥ 62,108 |
Other Operating Income and Ot_4
Other Operating Income and Other Operating Expenses - Other Operating Expenses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Foreign exchanges losses (net) | ¥ 3,976 | ¥ 9,310 | |
Impairment losses | 18,075 | ||
Losses on disposal of fixed assets | ¥ 27,665 | 30,540 | 32,322 |
Other | 42,455 | 46,181 | 39,539 |
Total | ¥ 70,120 | ¥ 98,773 | ¥ 81,171 |
Losses on natural disaster - Ad
Losses on natural disaster - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2019JPY (¥) | |
Disclosure - Losses on natural disaster - Additional Information [Abstract] | |
Losses on natural disaster | ¥ 22,349 |
Gains or Losses from Reorgani_2
Gains or Losses from Reorganization - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Restructuring provision [abstract] | ||
Impairment losses | ¥ 16,882 | ¥ 18,075 |
Losses on withdrawal from businesses | 17,443 | |
Losses incurred to withdraw inactive facilities and other losses | ¥ 15,154 |
Finance Income and Finance Co_3
Finance Income and Finance Costs - Financial Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Finance Income [line items] | |||
Finance income | ¥ 6,104 | ¥ 7,644 | ¥ 6,322 |
Interest income [member] | |||
Finance Income [line items] | |||
Finance income | 6,028 | 5,710 | 6,241 |
Other Financial Income [member] | |||
Finance Income [line items] | |||
Finance income | ¥ 76 | ¥ 1,933 | ¥ 81 |
Finance Income and Finance Co_4
Finance Income and Finance Costs - Financial Costs (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Finance Costs [line items] | |||
Finance costs | ¥ 22,445 | ¥ 24,584 | ¥ 21,586 |
Interest expense [member] | |||
Finance Costs [line items] | |||
Finance costs | 19,133 | 21,339 | 19,292 |
Other Financial Costs [member] | |||
Finance Costs [line items] | |||
Finance costs | ¥ 3,311 | ¥ 3,245 | ¥ 2,293 |
Impairment of Assets - Impairme
Impairment of Assets - Impairment Losses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment Loss | ¥ 16,882 | ¥ 18,075 |
Adjustments [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment Loss | (234) | |
Steelmaking and Steel Fabrication [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment Loss | 11,909 | 9,932 |
Engineering and Construction [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment Loss | ¥ 4,972 | 2,472 |
Chemicals and Materials [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment Loss | 3,334 | |
System Solutions [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment Loss | ¥ 2,570 |
Impairment of Assets - Addition
Impairment of Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment losses | ¥ 16,882 | ¥ 18,075 |
Top of range [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Future cash flows estimate cover | 5 years | |
Steelmaking and Steel Fabrication [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment losses | ¥ 11,909 | 9,932 |
Discounted cash flow method with the pre-tax discounted rate | 8.00% | |
Steelmaking and Steel Fabrication [member] | Pipe Business [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment losses | 8,505 | |
Recoverable amount of assets | ¥ 0 | |
Steelmaking and Steel Fabrication [member] | Manufactures and Marketing of Railway Wheels and Axles [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment losses | ¥ 5,990 | |
Steelmaking and Steel Fabrication [member] | Investments accounted for using equity method [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Impairment losses | ¥ 5,919 |
Impairment of Assets - Impair_2
Impairment of Assets - Impairment Losses of Goodwill (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Goodwill | ¥ 52,803 | ¥ 42,263 |
Steelmaking and Steel Fabrication [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Goodwill | 44,477 | 28,596 |
Engineering and Construction [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Goodwill | 3,300 | 8,641 |
System Solutions [member] | ||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | ||
Goodwill | ¥ 5,025 | ¥ 5,025 |
Other Comprehensive Income - Co
Other Comprehensive Income - Components of Other Comprehensive Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Items that will not be reclassified to profit or loss, incurred during the year | |||
Changes in fair value of financial assets measured at fair value through other comprehensive income | ¥ (138,361) | ¥ 94,274 | ¥ 119,533 |
Remeasurements of defined benefit assets | (6,641) | 29,253 | 33,791 |
Share of other comprehensive income of investments accounted for using the equity method | (2,953) | 5,125 | 406 |
Subtotal | (147,956) | 128,653 | 153,732 |
Items that will be reclassified to profit or loss, incurred during the year | |||
Changes in fair value of cash flow hedges | 6,155 | (2,351) | 5,404 |
Foreign exchange differences on translation of foreign operations | (42,391) | 12,390 | (28,332) |
Share of other comprehensive income of investments accounted for using the equity method | (21,750) | (2,488) | 8,008 |
Subtotal | (57,985) | 7,550 | (14,919) |
Total | (205,942) | 136,203 | 138,812 |
Items that will be reclassified to profit or loss, reclassification | |||
Changes in fair value of cash flow hedges | (4,234) | 4,678 | 8,533 |
Foreign exchange differences on translation of foreign operations | (111) | (215) | 2,551 |
Share of other comprehensive income of investments accounted for using the equity method | 62 | (113) | 1,854 |
Subtotal | (4,283) | 4,349 | 12,939 |
Total | (4,283) | 4,349 | 12,939 |
Items that will not be reclassified to profit or loss, before-tax | |||
Changes in fair value of financial assets measured at fair value through other comprehensive income | (138,361) | 94,274 | 119,533 |
Remeasurements of defined benefit assets | (6,641) | 29,253 | 33,791 |
Share of other comprehensive income of investments accounted for using the equity method | (2,953) | 5,125 | 406 |
Subtotal | (147,956) | 128,653 | 153,732 |
Items that will be reclassified to profit or loss, before-tax | |||
Changes in fair value of cash flow hedges | 1,921 | 2,326 | 13,937 |
Foreign exchange differences on translation of foreign operations | (42,502) | 12,174 | (25,781) |
Share of other comprehensive income of investments accounted for using the equity method | (21,687) | (2,602) | 9,863 |
Subtotal | (62,269) | 11,899 | (1,980) |
Total | (210,225) | 140,552 | 151,751 |
Items that will not be reclassified to profit or loss, tax effect | |||
Changes in fair value of financial assets measured at fair value through other comprehensive income | 33,804 | (29,051) | (33,263) |
Remeasurements of defined benefit assets | 3,109 | (9,831) | (9,727) |
Share of other comprehensive income of investments accounted for using the equity method | 0 | 0 | 0 |
Subtotal | 36,913 | (38,883) | (42,991) |
Items that will be reclassified to profit or loss, tax effect | |||
Changes in fair value of cash flow hedges | (398) | (538) | (4,485) |
Foreign exchange differences on translation of foreign operations | 1,246 | (1,582) | 702 |
Share of other comprehensive income of investments accounted for using the equity method | 0 | 0 | 0 |
Subtotal | 847 | (2,120) | (3,782) |
Total | 37,761 | (41,003) | (46,774) |
Items that will not be reclassified to profit or loss, net of tax | |||
Changes in fair value of financial assets measured at fair value through other comprehensive income | (104,557) | 65,222 | 86,269 |
Remeasurements of defined benefit assets | (3,531) | 19,422 | 24,063 |
Share of other comprehensive income of investments accounted for using the equity method | (2,953) | 5,125 | 406 |
Subtotal | (111,042) | 89,770 | 110,740 |
Items that will be reclassified to profit or loss, net of tax | |||
Changes in fair value of cash flow hedges | 1,522 | 1,788 | 9,452 |
Foreign exchange differences on translation of foreign operations | (41,256) | 10,592 | (25,079) |
Share of other comprehensive income of investments accounted for using the equity method | (21,687) | (2,602) | 9,863 |
Subtotal | (61,421) | 9,778 | (5,763) |
Total | ¥ (172,464) | ¥ 99,548 | ¥ 104,977 |
Earnings per Share - Summary of
Earnings per Share - Summary of Profit Attributable to Common Shares of the Parent (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings per share [abstract] | |||
Profit for the year attributable to owners of the parent | ¥ 251,169 | ¥ 180,832 | ¥ 137,246 |
Profit for the year not attributable to ordinary equity holders of the parent | 0 | 0 | 0 |
Profit for the year used to calculate basic earnings per share | ¥ 251,169 | ¥ 180,832 | ¥ 137,246 |
Earnings per Share - Summary _2
Earnings per Share - Summary of Weighted Average Number of Ordinary Shares Outstanding (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings per share [abstract] | |||
Weighted average number of ordinary shares outstanding | 891,387,729 | 882,629,157 | 884,959,677 |
Financial Instruments - Schedul
Financial Instruments - Schedule of Key Management Indicators (Detail) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of detailed information about financial instruments [abstract] | ||
ROE | 7.90% | 6.00% |
D/E Ratio | 0.73 | 0.69 |
Financial Instruments - Carryin
Financial Instruments - Carrying Amounts of Financial Instruments by Classification (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Financial liabilities | ||||
Trade and other payables | ¥ 1,611,403 | ¥ 1,580,597 | ||
Bonds and borrowings | 506,571 | 496,833 | ||
Other financial liabilities Derivatives | 1,017 | 674 | ||
Bonds and borrowings | 1,815,905 | 1,611,153 | ||
Other financial liabilities Derivatives | 6,501 | 6,572 | ||
Other non-current liabilities | 142,149 | 120,156 | ||
Financial assets | ||||
Cash and cash equivalents | 163,176 | 142,869 | ¥ 123,929 | ¥ 121,183 |
Trade and other receivables | 900,563 | 832,040 | ||
Other financial assets | 16,915 | 19,178 | ||
Derivatives | 4,071 | 6,827 | ||
Debt instruments | 12,844 | 12,351 | ||
Other financial assets | 812,668 | 1,007,627 | ||
Equity instruments | 718,470 | 926,465 | ||
Derivatives | 9,985 | 6,623 | ||
Debt instruments | 84,211 | 74,538 | ||
Financial assets at amortised cost, class [member] | ||||
Financial assets | ||||
Cash and cash equivalents | 163,176 | 142,869 | ||
Trade and other receivables | 900,563 | 832,040 | ||
Other financial assets | 12,844 | 12,351 | ||
Debt instruments | 12,844 | 12,351 | ||
Other financial assets | 84,211 | 74,538 | ||
Debt instruments | 84,211 | 74,538 | ||
Financial assets at fair value through profit or loss, category [member] | ||||
Financial assets | ||||
Other financial assets | 590 | 61 | ||
Derivatives | 590 | 61 | ||
Financial assets at fair value through other comprehensive income, category [member] | ||||
Financial assets | ||||
Other financial assets | 3,480 | 6,765 | ||
Derivatives | 3,480 | 6,765 | ||
Other financial assets | 728,456 | 933,088 | ||
Equity instruments | 718,470 | 926,465 | ||
Derivatives | 9,985 | 6,623 | ||
Financial liabilities at amortised cost, class [member] | ||||
Financial liabilities | ||||
Trade and other payables | 1,611,403 | 1,580,597 | ||
Bonds and borrowings | 506,571 | 496,833 | ||
Bonds and borrowings | 1,815,905 | 1,611,153 | ||
Other non-current liabilities | 142,149 | 120,156 | ||
Financial liabilities at fair value through profit or loss, category [member] | ||||
Financial liabilities | ||||
Other financial liabilities Derivatives | 258 | 329 | ||
Financial Liabilities Measured At Fair Value through Other Comprehensive Income Category [member] | ||||
Financial liabilities | ||||
Other financial liabilities Derivatives | 758 | 344 | ||
Other financial liabilities Derivatives | ¥ 6,501 | ¥ 6,572 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of financial information [line items] | ||
IFRS 15 impact on assets recognized | ¥ 67,769 | |
IAS 19 impact on liabilities recognized | 24,085 | ¥ 22,971 |
Borrowings | ¥ 2,369,231 | 2,157,755 |
Currency risk [member] | ||
Disclosure of financial information [line items] | ||
Impacts on profit before income taxes | 1.00% | |
Interest rate risk [member] | ||
Disclosure of financial information [line items] | ||
Impacts on profit before income taxes | 1.00% | |
Commitment Line Agreement [member] | ||
Disclosure of financial information [line items] | ||
Borrowings | ¥ 0 | |
Loan Facility Agreement [member] | ||
Disclosure of financial information [line items] | ||
Available credit balance | ¥ 666,096 | ¥ 650,933 |
Financial Instruments - Financi
Financial Instruments - Financial Instruments Measured at Fair Value on a Recurring Basis (Detail) - At fair value [member] - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Derivative Assets [member] | ||
Financial assets | ||
Fair value measured through profit or loss | ¥ 590 | ¥ 61 |
Fair value measured through other comprehensive income | 13,466 | 13,388 |
Derivative Assets [member] | Level 2 of fair value hierarchy [member] | ||
Financial assets | ||
Fair value measured through profit or loss | 590 | 61 |
Fair value measured through other comprehensive income | 13,466 | 13,388 |
Equity instruments [member] | ||
Financial assets | ||
Fair value measured through other comprehensive income | 718,470 | 926,465 |
Equity instruments [member] | With quoted market price in an active market [member] | ||
Financial assets | ||
Fair value measured through other comprehensive income | 638,768 | 847,645 |
Equity instruments [member] | Level 3 of fair value hierarchy [member] | ||
Financial assets | ||
Fair value measured through other comprehensive income | 79,702 | 78,819 |
Derivative liabilities [member] | ||
Financial liabilities | ||
Fair value measured through profit or loss | 258 | 329 |
Fair value measured through other comprehensive income | 7,260 | 6,917 |
Derivative liabilities [member] | Level 2 of fair value hierarchy [member] | ||
Financial liabilities | ||
Fair value measured through profit or loss | 258 | 329 |
Fair value measured through other comprehensive income | ¥ 7,260 | ¥ 6,917 |
Financial Instruments - Sched_2
Financial Instruments - Schedule of Changes in Equity Instruments Measures at Level 3 (Detail) - At fair value [member] - Equity instruments [member] - Level 3 of fair value hierarchy [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of financial information [line items] | ||
Balance at beginning of the year | ¥ 78,819 | ¥ 83,237 |
Net changes in fair value | 1,122 | 1,197 |
Acquisitions | 116 | 54 |
Sale / settlements | (641) | (2,106) |
Other | 286 | (3,562) |
Balance at end of the year | ¥ 79,702 | ¥ 78,819 |
Financial Instruments - Fair Va
Financial Instruments - Fair Value of Significant Equity Instruments Measured at FVOCI (Detail) - Equity instruments [member] - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Toyota Motor Corporation [member] | ||
Disclosure of financial information [line items] | ||
Fair value measured through other comprehensive income | ¥ 80,312 | ¥ 79,778 |
POSCO member] | ||
Disclosure of financial information [line items] | ||
Fair value measured through other comprehensive income | 70,952 | 96,996 |
Suzuki Motor Corporation [member] | ||
Disclosure of financial information [line items] | ||
Fair value measured through other comprehensive income | 38,006 | 44,462 |
Recruit Holdings [member] | ||
Disclosure of financial information [line items] | ||
Fair value measured through other comprehensive income | 37,110 | |
Central Japan Railway Company [member] | ||
Disclosure of financial information [line items] | ||
Fair value measured through other comprehensive income | ¥ 30,633 | |
SUMCO Corporation [member] | ||
Disclosure of financial information [line items] | ||
Fair value measured through other comprehensive income | 64,783 | |
Vallourec S.A. [member] | ||
Disclosure of financial information [line items] | ||
Fair value measured through other comprehensive income | ¥ 37,466 |
Financial Instruments - Derecog
Financial Instruments - Derecognition of Financial Assets Measured at Fair Value (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of detailed information about financial instruments [abstract] | ||
Fair value at the time of derecognition | ¥ 83,726 | ¥ 37,532 |
Cumulative gains or losses on disposal (net of tax) | ¥ 14,679 | ¥ 6,542 |
Financial Instruments - Dividen
Financial Instruments - Dividends Recognized for Equity Investments Measured at FVOCI (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of detailed information about financial instruments [abstract] | ||
Investment derecognized in the reporting period | ¥ 2,168 | ¥ 865 |
Investment held at the end of reporting period | 17,988 | 16,967 |
Total | ¥ 20,156 | ¥ 17,832 |
Financial Instruments - Fair _2
Financial Instruments - Fair value of Financial Assets and Liabilities Measured at Amortized Cost (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Financial assets | ||
Debt instruments, current | ¥ 12,844 | ¥ 12,351 |
Debt instruments, non current | 84,211 | 74,538 |
Financial liabilities | ||
Bonds and borrowings, current | 506,571 | 496,833 |
Bonds and borrowings, non current | 1,815,905 | 1,611,153 |
Financial Assets and Liabilities at Amortised Cost [member] | ||
Financial assets | ||
Debt instruments, current | 12,844 | 12,351 |
Debt instruments, non current | 84,211 | 74,538 |
Financial liabilities | ||
Bonds and borrowings, current | 506,571 | 496,833 |
Bonds and borrowings, non current | 1,815,905 | 1,611,153 |
Financial Assets and Liabilities at Amortised Cost [member] | With quoted market price in an active market [member] | ||
Financial assets | ||
Debt instruments, current | 9,498 | 1,233 |
Debt instruments, non current | 11 | 23 |
Financial liabilities | ||
Bonds and borrowings, current | 60,386 | 86,080 |
Bonds and borrowings, non current | 224,669 | 215,686 |
Financial Assets and Liabilities at Amortised Cost [member] | Level 2 of fair value hierarchy [member] | ||
Financial assets | ||
Debt instruments, current | 0 | 3,103 |
Debt instruments, non current | 7,512 | 5,497 |
Financial Assets and Liabilities at Amortised Cost [member] | Level 3 of fair value hierarchy [member] | ||
Financial assets | ||
Debt instruments, current | 3,345 | 8,018 |
Debt instruments, non current | 76,699 | 69,015 |
Financial liabilities | ||
Bonds and borrowings, current | 446,571 | 411,133 |
Bonds and borrowings, non current | ¥ 1,618,043 | ¥ 1,415,613 |
Financial Instruments - Summary
Financial Instruments - Summary of Principal Foreign Currency Risk Exposures (Detail) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of detailed information about financial instruments [abstract] | ||
Net exposure (liability) | $ 78 | $ (174) |
Financial Instruments - Summa_2
Financial Instruments - Summary of Principal Foreign Currency Risk Exposures Impact on Profit Before Income Taxes (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest rate risk [member] | ||
Disclosure of financial information [line items] | ||
Impacts on profit before income taxes | ¥ (6,043) | ¥ (5,787) |
Currency risk [member] | ||
Disclosure of financial information [line items] | ||
Impacts on profit before income taxes | ¥ (86) | ¥ 185 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Aging of Trade and Other Receivables (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of financial information [line items] | ||
Trade and other receivable | ¥ 970,740 | ¥ 834,142 |
Current [member] | ||
Disclosure of financial information [line items] | ||
Trade and other receivable | 964,845 | 831,985 |
Within Ninety Days [Member] | ||
Disclosure of financial information [line items] | ||
Trade and other receivable | 4,991 | 1,684 |
Over Ninety Days and Within One Year [Member] | ||
Disclosure of financial information [line items] | ||
Trade and other receivable | 729 | 363 |
Over 1 year [member] | ||
Disclosure of financial information [line items] | ||
Trade and other receivable | ¥ 173 | ¥ 108 |
Financial Instruments - Sched_3
Financial Instruments - Schedule of Changes in Allowance for Doubtful Accounts (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of detailed information about financial instruments [abstract] | ||
Balance at beginning of the year | ¥ 5,878 | ¥ 5,854 |
Increase during the year | 1,776 | 1,529 |
Decrease during the year | (696) | (1,513) |
Other | 183 | 7 |
Balance at end of the year | ¥ 7,142 | ¥ 5,878 |
Financial Instruments - Sched_4
Financial Instruments - Schedule of Financial Liabilities by Contractual Maturity (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of financial information [line items] | ||
Trade and other payables | ¥ 1,611,403 | ¥ 1,580,597 |
Borrowings | 2,369,231 | 2,157,755 |
Gross carrying amount [member] | ||
Disclosure of financial information [line items] | ||
Trade and other payables | 1,611,403 | 1,580,597 |
Borrowings | 1,922,476 | 1,723,290 |
Bonds | 280,000 | 295,696 |
Lease liabilities | 46,754 | 49,768 |
Commercial paper | 120,000 | 89,000 |
Derivatives | 7,519 | 7,246 |
Total | 3,988,154 | 3,745,600 |
Contractual Cash Flows [member] | ||
Disclosure of financial information [line items] | ||
Trade and other payables | 1,611,403 | 1,580,597 |
Borrowings | 1,922,476 | 1,723,290 |
Bonds | 280,000 | 295,700 |
Lease liabilities | 46,754 | 49,768 |
Commercial paper | 120,000 | 89,000 |
Derivatives | 7,019 | 8,080 |
Total | 3,987,654 | 3,746,436 |
Within 1 year [member] | ||
Disclosure of financial information [line items] | ||
Trade and other payables | 1,611,403 | 1,580,597 |
Borrowings | 326,571 | 322,133 |
Bonds | 60,000 | 85,700 |
Lease liabilities | 8,783 | 8,550 |
Commercial paper | 120,000 | 89,000 |
Derivatives | 2,656 | 2,279 |
Total | 2,129,414 | 2,088,260 |
Over 1 but less than 5 years [member] | ||
Disclosure of financial information [line items] | ||
Borrowings | 657,235 | 584,131 |
Bonds | 100,000 | 140,000 |
Lease liabilities | 21,034 | 22,582 |
Derivatives | 4,363 | 5,478 |
Total | 782,633 | 752,192 |
Over 5 years [member] | ||
Disclosure of financial information [line items] | ||
Borrowings | 938,670 | 817,024 |
Bonds | 120,000 | 70,000 |
Lease liabilities | 16,936 | 18,635 |
Derivatives | 323 | |
Total | ¥ 1,075,606 | ¥ 905,983 |
Financial Instruments - Sched_5
Financial Instruments - Schedule of Derivative Assets and Liabilities Designated as Hedging Instruments (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of financial information [line items] | ||
Total notional amount | ¥ 551,957 | ¥ 605,695 |
Settlement in excess of one year | 326,949 | 335,425 |
Carrying amount (Fair value), assets | 13,466 | 13,388 |
Carrying amount (Fair value), liabilities | 7,260 | 6,917 |
Foreign Exchange Forward Contract [member] | Cash flow hedges [member] | ||
Disclosure of financial information [line items] | ||
Total notional amount | 217,369 | 246,189 |
Settlement in excess of one year | 6,762 | 9,113 |
Carrying amount (Fair value), assets | 1,752 | 1,069 |
Carrying amount (Fair value), liabilities | 750 | 303 |
Interest rate swap contract [member] | Cash flow hedges [member] | ||
Disclosure of financial information [line items] | ||
Total notional amount | 264,704 | 275,939 |
Settlement in excess of one year | 252,848 | 258,741 |
Carrying amount (Fair value), assets | 730 | 601 |
Carrying amount (Fair value), liabilities | 6,509 | 6,613 |
Currency swap contract [member] | Cash flow hedges [member] | ||
Disclosure of financial information [line items] | ||
Total notional amount | 67,353 | 83,244 |
Settlement in excess of one year | 66,280 | 67,353 |
Carrying amount (Fair value), assets | 9,462 | 11,665 |
Commodity Swaps [member] | Cash flow hedges [member] | ||
Disclosure of financial information [line items] | ||
Total notional amount | 2,529 | 321 |
Settlement in excess of one year | 1,058 | 217 |
Carrying amount (Fair value), assets | ¥ 1,519 | ¥ 52 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Derivative Assets and Liabilities not Designated as Hedges (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure of financial information [line items] | ||
Derivative financial assets | ¥ 590 | ¥ 124 |
Derivative financial liabilities | 258 | 392 |
Foreign Exchange Forward Contract [member] | ||
Disclosure of financial information [line items] | ||
Derivative financial assets | 492 | 4 |
Derivative financial liabilities | 248 | 381 |
Interest rate swap contract [member] | ||
Disclosure of financial information [line items] | ||
Derivative financial assets | 2 | |
Currency swap contract [member] | ||
Disclosure of financial information [line items] | ||
Derivative financial assets | 97 | 118 |
Derivative financial liabilities | ¥ 10 | ¥ 11 |
Financial Instruments - Summa_5
Financial Instruments - Summary of Changes in Fair Value of Cash Flow Hedges (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of detailed information about hedges [line items] | ||
Beginning of the year | ¥ (5,080) | ¥ (7,407) |
Changes in fair value of cash flow hedge recognized in the other comprehensive income | 6,155 | (2,351) |
Amount transferred to profit or loss from other components of equity as a reclassification adjustment | (4,234) | 4,678 |
The account in which the reclassification adjustment to End of the profit or loss year is recognized | (3,159) | (5,080) |
Currency risk [member] | ||
Disclosure of detailed information about hedges [line items] | ||
Beginning of the year | 426 | (682) |
Changes in fair value of cash flow hedge recognized in the other comprehensive income | 4,407 | (3,626) |
Amount transferred to profit or loss from other components of equity as a reclassification adjustment | (4,186) | 4,734 |
The account in which the reclassification adjustment to End of the profit or loss year is recognized | 646 | 426 |
Interest rate risk [member] | ||
Disclosure of detailed information about hedges [line items] | ||
Beginning of the year | (5,559) | (6,762) |
Changes in fair value of cash flow hedge recognized in the other comprehensive income | 228 | 1,222 |
Amount transferred to profit or loss from other components of equity as a reclassification adjustment | 5 | (18) |
The account in which the reclassification adjustment to End of the profit or loss year is recognized | (5,326) | (5,559) |
Other price risk [member] | ||
Disclosure of detailed information about hedges [line items] | ||
Beginning of the year | 52 | 37 |
Changes in fair value of cash flow hedge recognized in the other comprehensive income | 1,519 | 52 |
Amount transferred to profit or loss from other components of equity as a reclassification adjustment | (52) | (37) |
The account in which the reclassification adjustment to End of the profit or loss year is recognized | ¥ 1,519 | ¥ 52 |
Related Party Disclosures - Sum
Related Party Disclosures - Summary of Transactions with Related Parties (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of transactions between related parties [abstract] | ||
Sells of steel products | ¥ 1,170,241 | ¥ 849,244 |
Account trade and other receivables | ¥ 46,251 | ¥ 39,236 |
Related Parties - Schedule of K
Related Parties - Schedule of Key Management Personnel Compensation (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of transactions between related parties [abstract] | |||
Salary | ¥ 935 | ¥ 857 | ¥ 964 |
Commitments - Significant Commi
Commitments - Significant Commitments Related to the Acquisition of Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Capital Expenditures Commitments [abstract] | ||
Contractual commitments related to acquisition of property, plant and equipment and intangible assets | ¥ 393,230 | ¥ 316,808 |
Loan Guarantees - Guarantees fo
Loan Guarantees - Guarantees for Bank Loans of its Joint Ventures and Associates Which Would Require the Group to Repay the Loan in the Event of Default (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Guarantees [abstract] | ||
Guarantees for the bank loans of joint ventures and associates | ¥ 62,506 | ¥ 82,721 |