JFE Holdings (5411) Q3 2025 earnings summary

Executive summary

• Profit attributable to owners of parent for FY2024 is forecast at ¥95.0bn, down ¥102.4bn year-over-year and ¥35.0bn below previous guidance, mainly due to manufacturing troubles, overseas impairment losses, and inventory valuation losses.

• Full-year business profit expected at ¥115.0bn, down ¥183.2bn year-over-year and ¥45.0bn from previous forecast.

• Revenue for the first three quarters of FY2024 was ¥3,675.5bn, down 4.9% year-over-year; business profit dropped 50.7% to ¥120.8bn, and profit attributable to owners of parent fell 39.6% to ¥100.1bn.

• Comprehensive income decreased 57.8% year-over-year to ¥106.0bn for the first three quarters.

• Annual dividend maintained at ¥100 per share, with a 33.5% payout ratio.

Financial highlights

• 3Q FY2024 business profit (excluding inventory valuation) was ¥120.7bn, down ¥39.2bn year-over-year.

• 3Q FY2024 revenue was ¥3,675.4bn, down ¥190.3bn year-over-year.

• Segment profit for 3Q FY2024 was ¥105.2bn, down ¥125.5bn year-over-year.

• Gross profit for the first three quarters was ¥404.3bn, down from ¥490.7bn year-over-year.

• Basic earnings per share for the first three quarters was ¥157.38, compared to ¥270.20 in the prior year.

Outlook and guidance

• FY2024 full-year revenue forecast at ¥4,900.0bn, down ¥274.6bn year-over-year.

• Business profit forecast at ¥115.0bn, profit attributable to owners of parent at ¥95.0bn, both revised downward.

• Steel business segment profit revised down by ¥44.0bn to ¥26.0bn due to manufacturing issues and overseas impairment losses.

• Crude steel production for FY2024 expected at approx. 22.00Mt, down 1.45Mt year-over-year.

• The company revised its consolidated financial results forecasts during the period.