JFE : Notice of Differences Between Forecasted and Actual Consolidated Financial Results in the First Half of JFE’s Fiscal Year Ending March 31, 2024
November 06, 2023 at 01:11 am EST
Share
November 6, 2023
Company Name:
JFE Holdings, Inc. (Code: 5411)
Representative:
Koji Kakigi, President and CEO
Contact:
Hiroki Watanabe, Manager, Public Relations Section,
Investor Relations and Corporate Communications Department
Tel: +81-3-3597-3842
To whom it may concern:
Notice of Differences Between Forecasted and Actual Consolidated Financial Results
in the First Half of JFE's Fiscal Year Ending March 31, 2024
JFE Holdings, Inc. announces herewith the differences between its forecasted consolidated financial results for first half of the fiscal year ending March 31, 2024, which were announced on August 3, 2023, and the actual results announced today.
Consolidated financial results for fiscal 2023 first half (April 1 to September 30, 2023)
Profit
Basic
Revenue
Business
Profit before
attributable
earnings
profit1
tax (million
to owners of
(million yen)
per share
(million yen)
yen)
parent
(yen)
(million yen)
Forecasted results (A)
2,610,000
125,000
115,000
85,000
146.32
Actual results (B)
2,576,588
164,346
155,363
110,091
186.97
Amount of change (B-A)
(33,412)
39,346
40,363
25,091
Change (%)
(1.3)
31.5
35.1
29.5
(Ref.) 1H fiscal 2022 results
2,564,335
187,915
181,246
123,256
213.23
1Business profit is profit before tax, excluding financial income and one-time items of a materially significant value, used as a benchmark indicator of the company's consolidated earnings.
Reasons for differences
Business profit came to 164.3 billion yen, up 39.3 billion yen from the forecast, and profit before tax came to 155.3 billion yen, up 40.3 billion yen from the forecast. Details by business segment follow.
Steel business: Segment profit2 of 122.8 billion yen improved by 35.8 billion yen from the forecast, due mainly to efforts to improve selling prices and reduce costs in the steel business, as well as profit-enhancing factors such as more favorable inventory valuations.
Engineering business: Segment profit of 8.7 billion yen improved by 3.7 billion yen from the forecast due to increased sales revenue.
Trading business: Segment profit of 26.8 billion yen improved slightly by 800 million yen from the forecast.
2Segment profit is profit including financial profit and loss in business profit, used as a benchmark indicator of each segment's performance.
Attachments
Original Link
Original Document
Permalink
Disclaimer
JFE Holdings Inc. published this content on 06 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2023 06:10:07 UTC.
JFE Holdings, Inc. is a holding company organized around 3 areas of activity:
- manufacturing of steel products (63.9% of net sales): plates, profiles, tubes, rolled steel products, etc.;
- trading of steel products, nonferrous metals, chemicals, machinery and ships (24.7%);
- engineering services (11.4%): design, development and construction of infrastructures and industrial equipments for the energy, environment and iron and steel sectors.