Japanese steelmaker JFE Holdings Co. has announced its consolidated financial results for the full financial year of 2021-22 ended March 31.
In the full financial year, JFE Holdings recorded a net profit of JPY 289.79 billion ($2.22 billion), compared to a JPY 19.06 billion net loss recorded in the previous fiscal year. The company’s net sales amounted to JPY 4.36 trillion ($33.46 billion), up 35.2 percent year on year.
Meanwhile, in the financial year 2021-22, JFE Steel’s consolidated crude steel output increased to 27.26 million mt, up by 13.7 percent year on year. The company’s shipments amounted to 22.38 million mt, up 9.2 percent year on year.
The company’s crude steel production in the full financial year had been expected to be approximately 27.4 million mt in its guidance.
According to the company’s statement, steel demand is expected to remain firm both in Japan and overseas, supported by a projected recovery in automobile production and a pickup in the economy. If this situation continues, JFE Steel’s crude steel production is expected to total about 26 million mt in the financial year 2022-23. JFE’s consolidated earnings forecast for the fiscal year 2022-23 is pending.