Japan-based steelmaker JFE Holdings has announced its consolidated financial and operational results for the first half of the fiscal year 2026-27, covering the April-September period, reporting higher revenue and profit despite lower crude steel production and shipments at its steelmaking subsidiary JFE Steel.
In the given period, the company's net profit attributable to owners of the parent increased by 101.7 percent year on year to JPY 53.80 billion ($336.7 million), while its revenue rose by 7.5 percent year on year to JPY 2.40 trillion ($15.02 billion). Meanwhile, JFE Holdings' operating profit reached JPY 86.53 billion ($541.6 million), compared to JPY 45.77 billion in the corresponding period of the previous fiscal year.
During the first half, the company's steel business recorded a segment net profit of JPY 15.83 billion ($99.1 million), compared to a loss of JPY 5.35 billion in the same period of the previous fiscal year. Revenue from external customers in the steel segment increased by 2.1 percent year on year to JPY 1.40 trillion ($8.76 billion). According to the company, the steel segment's performance was affected by deteriorating domestic and overseas steel market conditions, higher raw material prices and rising costs related to the situation in the Middle East, while cost improvements, expansion of high-value-added products and inventory valuation effects contributed positively to its results. Heavy rain and typhoons in the Chiba district also had a negative impact on operations.
Meanwhile, JFE Steel's consolidated crude steel production declined by 4.6 percent year on year to 10.90 million mt in the April-September period, compared to 11.42 million mt in the corresponding period of the previous fiscal year.
For the full fiscal year ending March 31, 2027, JFE Holdings forecasts consolidated revenue of JPY 4.90 trillion, up 7.9 percent year on year, and net profit attributable to owners of the parent of JPY 130 billion, representing an 85.3 percent increase compared to the previous fiscal year. The steel segment's full-year profit forecast has been reduced from JPY 100 billion to JPY 80 billion. In addition, JFE Steel expects its non-consolidated crude steel production to total 20.80 million mt in the full fiscal year, compared to 21.37 million mt in the previous fiscal year.
