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    5411   JP3386030005

JFE HOLDINGS, INC.

(5411)
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Delayed Japan Exchange  -  01:00 2022-11-25 am EST
1548.00 JPY   +0.26%
11/07Nikkei 225 Up 1.2% on Earnings, Central Bank Outlooks
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11/07Japanese shares rise on Wall Street gains, robust outlook
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11/06Japanese shares rise on Wall Street gains, robust corporate outlook
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Japan's JFE to decide on electrical steel sheet JV with JSW in India by end-2022

09/08/2022 | 04:14am EST
FILE PHOTO: The logo of JSW is seen on the company's headquarters in Mumbai

TOKYO (Reuters) - Japan's JFE Steel aims to decide this year on a joint venture in India with partner JSW Steel to produce electrical steel sheet used in power plant transformers, JFE Holdings President Koji Kakigi said on Thursday.

Japan's second-biggest steelmaker, which is under JFE Holdings, aims to tap growth in the Indian market by offering advanced steel products to boost efficiency in power generation, Kakigi told reporters.

"We are thinking of developing a business in the higher-end field, using our technology, to create demand for a grain oriented electrical steel sheet together with JSW," Kakigi said.

JFE said last year it would conduct a feasibility study on forming a JV with JSW Steel, in which JFE holds 15% stake, to produce the steel sheet as demand for electric power in India was soaring.

Japanese steelmakers are expanding in India while trimming their output capacity at home.

JFE's bigger rival, Nippon Steel, plans to almost double crude steel output capacity at its India's Hazira plant.

As for the Japanese market, JFE, which also has engineering and trading units, plans to develop its offshore wind power generation business.

"Especially, we want to take on the entire operation and maintenance (O&M) service," he said, adding it wants to become a local O&M contractor for wind turbine makers such as General Electric and Vestas.

JFE may consider acquisitions in areas not covered by the group, such as companies specialising in underwater work, Kakigi said.

Japan plans to install up to 45 gigawatts of offshore wind power by 2040 as part of its efforts to curb emissions.

(Reporting by Yuka Obayashi; editing by Jason Neely)

By Yuka Obayashi


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL ELECTRIC COMPANY 0.31% 88.14 Delayed Quote.-6.99%
JFE HOLDINGS, INC. 0.26% 1548 Delayed Quote.5.52%
JFE SYSTEMS, INC. 0.00% 2198 Delayed Quote.-4.14%
JSW SA -0.23% 47.34 Delayed Quote.35.76%
JSW STEEL LIMITED 0.01% 725.95 End-of-day quote.10.68%
NIPPON STEEL CORPORATION -1.31% 2258.5 Delayed Quote.20.23%
VESTAS WIND SYSTEMS A/S -2.21% 178.5 Delayed Quote.-10.75%
All news about JFE HOLDINGS, INC.
11/07Nikkei 225 Up 1.2% on Earnings, Central Bank Outlooks
MT
11/07Japanese shares rise on Wall Street gains, robust outlook
RE
11/06Japanese shares rise on Wall Street gains, robust corporate outlook
RE
11/04Jfe : Financial Results for First Half of Fiscal Year 2022 ending March 31, 2023
PU
11/04Jfe : Dividend of Retained Earnings (Interim)
PU
11/04JFE Holdings, Inc. Revises Interim Dividend Guidance for the Fiscal Year Ending March 3..
CI
11/04JFE Holdings, Inc. Provides Consolidated Earnings Guidance for the Fiscal Ending March ..
CI
11/04Jfe : Q2 Financial Results Briefing for the Fiscal Year Ending March 2023
PU
09/29JFE HOLDINGS, INC. : Ex-dividend day for interim dividend
FA
09/19UBS Adjusts JFE Holdings' Price Target to 1,900 Yen From 2,440 Yen, Keeps at Buy
MT
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Analyst Recommendations on JFE HOLDINGS, INC.
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Financials
Sales 2023 5 077 B 36 467 M 36 467 M
Net income 2023 164 B 1 180 M 1 180 M
Net Debt 2023 1 841 B 13 224 M 13 224 M
P/E ratio 2023 5,45x
Yield 2023 5,94%
Capitalization 899 B 6 460 M 6 460 M
EV / Sales 2023 0,54x
EV / Sales 2024 0,55x
Nbr of Employees 64 296
Free-Float 86,9%
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Technical analysis trends JFE HOLDINGS, INC.
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 1 548,00 JPY
Average target price 1 647,78 JPY
Spread / Average Target 6,45%
EPS Revisions
Managers and Directors
Koji Kakigi President, CEO & Representative Director
Masashi Terahata Executive Vice President
Masami Yamamoto Independent Outside Director
Yoshiko Ando Independent Outside Director
Nobumasa Kemori Independent Outside Director
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