Securities Code:5411.T

JFE Group

Financial Results for First Half of

Fiscal Year 2022 ending March 31, 2023

JFE Holdings, Inc.

November 4, 2022

JFE-HD

Key Points of today's Announcement

Results

for 1H of

FY2022

Forecast

of

FY2022

  • Business profit in 1H of FY2022 was ¥187.9 bn. increased by ¥22.9 bn. from previous forecast mainly due to profit growth from improving spreads in the steel business. (decreased by ¥10.9 bn. year-on-year)
  • Full-yearbusiness profit is expected to be ¥255.0bn.
    (Increased by ¥20.0bn. from previous forecast, decreased by ¥161.4bn. year-on-year)
  • The economy and demand for steel continue to recover,
    but the recovery of auto production and overseas steel market has been slow since the last announcement.
  • JFE Steel plans to continue optimal production,
    its standalone crude steel production is expected to decrease. (Crude steel production [standalone]
    Previous forecast: less than 26.00Mt Updated forecast: Approx. 25.00Mt)
  • On the other hand, despite the decline in crude steel production,
    segment profit of the steel business is expected to be higher than previous forecast
    due to initiatives for improvement in earnings, such as domestic sales price improvement.
  • In the engineering and trading businesses, earnings are expected to remain stable. (Engineering business : no change from previous forecast

Trading business

: increase by 5.0bn. from previous forecast)

Dividends

Topics

  • Foreign exchange : Assume 145 yen/$ in the exchange rate for the second half of FY2022.
    • In the steel business, the overpayment of foreign currency has shrunk due to the calmer raw material market, etc.
  • The Board of Directors has decided to pay an interim dividend of 50 yen per share. (Last announcement : 40 yen per share)

• Progress of development plans for the land of Keihin district

2

A table of contents

  • JFE Holdings' Financial Results for First Half of Fiscal Year 2022 (April 1 to September 30, 2022) and Financial Forecasts for Fiscal Year 2022 (April 1, 2022, to March 31, 2023)
  • Dividends
  • Financial Results for First Half of Fiscal Year 2022 and Financial Forecast for Fiscal Year 2022 by Segment
  • Topics

Appendix 1: Profit/Loss Analysis

Appendix 2: Business Environmental Indicators, etc.

Appendix 3: The 7th Medium-Term Business Plan

Appendix 4: JFE Steel Carbon Neutrality Strategy Briefing (Excerpted)

This presentation material is for information and discussion purpose only.

Any statements in the presentation which are not historical facts are future projections based on certain

assumptions and currently available information. Please note that actual performance may vary significantly due to

various factors.

3

Consolidated Results for First Half of

Fiscal Year 2022

(April 1 to September 30, 2022)

and

Consolidated Financial Forecast

for Fiscal Year 2022

(April 1, 2022 to March 31, 2023)

4

JFE-HD

Financial Results and Forecast for Fiscal Year 2022

  • Business profit in 1H of FY2022 was ¥187.9bn.

(increased by ¥22.9bn. from previous forecast, decreased by ¥10.9bn. year-on-year)

  • Full-yearbusiness profit is expected to be ¥255.0bn.

(increased by ¥20.0bn. from previous forecast, decreased by ¥161.4bn. year-on-year)

FY2021

FY2022

FY2022

Change

Change

Forecast

Forecast

Actual

FY2021(Actual)

Previous→Updated

(billion yen)

(Previous)

(Updated)

→FY2022(Updated)

1H

Full

1H

Full

1H

Full

1H

Full

1H

Full

(Apr-Sep)

Year

(Apr-Sep)

Year

(Apr-Sep)

Year

(Apr-Sep)

Year

(Apr-Sep)

Year

Revenue

1,942.9

4,365.1

2,610.0

5,370.0

2,564.3

5,260.0

621.4

894.9

(45.7)

(110.0)

Business Profit

198.8

416.4

165.0

235.0

187.9

255.0

(10.9)

(161.4)

22.9

20.0

Finance Income/Costs

(5.6)

(11.6)

(10.0)

(15.0)

(6.6)

(15.0)

(1.0)

(3.4)

3.4

0.0

Segment Profit

193.2

404.8

155.0

220.0

181.2

240.0

(12.0)

(164.8)

26.2

20.0

Exceptional Items

-

(16.2)

-

-

-

-

-

16.2

-

-

Profit before Tax

193.2

388.5

155.0

220.0

181.2

240.0

(12.0)

(148.5)

26.2

20.0

Tax Expense and Profit

(Loss) Attributable to

(52.4)

(100.4)

(55.0)

(80.0)

(57.9)

(85.0)

(5.5)

15.4

(2.9)

(5.0)

Non-Controlling Interests

Profit Attributable to

140.7

288.0

100.0

140.0

123.2

155.0

(17.5)

(133.0)

23.2

15.0

Owners of Parent

Business profit is profit before tax excluding financial income and one-time items of a materially significant value. Segment profit is profit

5

including financial income in business profit.

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JFE Holdings Inc. published this content on 04 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2022 07:05:09 UTC.