JFE Holdings (5411) Q1 2026 earnings summary

Executive summary

• 1Q FY2025 revenue was ¥1,115.3bn, down 7.9% year-over-year; business profit fell to ¥16.2bn, down 71.4% year-over-year.

• Profit attributable to owners of parent dropped 74.1% to ¥7.1bn; comprehensive income was negative ¥26.3bn.

• Segment profit was ¥10.3bn, down ¥41.4bn year-over-year.

• Full-year business profit forecast remains at ¥140.0bn; profit attributable to owners of parent at ¥75.0bn.

• Interim and year-end dividends set at 40 yen per share each, totaling 80 yen for FY2025.

Financial highlights

• 1Q FY2025 business profit (excluding inventory valuation) was ¥45.2bn, down ¥16.7bn year-over-year.

• Gross profit for 1Q FY2025 was ¥113.7bn, down from ¥138.5bn year-over-year.

• Total assets at June 30, 2025 were ¥5,633.1bn; equity attributable to owners of parent was ¥2,472.2bn.

• Equity ratio decreased to 43.9% from 44.8% at the end of FY2024.

• Depreciation and amortization for 1Q FY2025 was ¥66.8bn, up from ¥62.2bn year-over-year.

Outlook and guidance

• FY2025 revenue forecast is ¥4,750.0bn, up 2.3% year-over-year; business profit projected at ¥140.0bn, up 3.4%.

• Profit attributable to owners of parent forecast at ¥75.0bn, down 18.4% year-over-year; basic EPS guidance is ¥117.92.

• Full-year segment profit forecast at ¥110.0bn, down ¥4.5bn year-over-year.

• Crude steel production for FY2025 expected at 21.00Mt, down 950,000 tons from FY2024.

• Annual dividend forecast at 80 yen per share, with a payout ratio of around 30%.