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JFE Holdings, First Half Net Income Decreases by 37%

Thu Nov 6, 2025 2:00 pm JST Earnings

5411 JFE Holdings,Inc. 【IFRS】

Earnings Report

JFE Holdings,Inc. <5411> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on November 6th (14:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 37.2% from the same period last year to 26.6 billion yen. Progress toward the full-year plan of 75.0 billion yen was 35.6%, also falling below the five-year average of 56.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease 2.1% from the same period last year to 48.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased 30.6% from the same period last year, reaching 19.5 billion yen.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 2,576,588 164,346 155,363 110,091 187.0 57.9 Nov 6, 2023 IFRS
Apr - Sep, 2024 2,450,781 69,788 59,963 42,485 66.8 41.6 Nov 6, 2024 IFRS
Apr - Sep, 2025 2,232,649 45,765 34,174 26,676 41.9 31.1 Nov 6, 2025 IFRS
YoY -8.9% -34.4% -43.0% -37.2% -37.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance 2,330,000 ー 25,000 15,000 23.6 40 Aug 4, 2025 IFRS
Apr - Sep, 2025 Results 2,232,649 45,765 34,174 26,676 41.9 40 Nov 6, 2025 IFRS
Revision Rate -4.2% － +36.7% +77.8% +77.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 4,750,000 ー 110,000 75,000 117.9 80 May 8, 2025 IFRS
Mar, 2026 New 4,600,000 ー 110,000 75,000 117.9 80 Nov 6, 2025 IFRS
Revision Rate -3.2% － 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 2,408,866 95,280 84,352 49,382 77.6 50 May 8, 2025 IFRS
Oct - Mar, 2025 Guidance 2,367,351 ー 75,826 48,324 76.0 40 Nov 6, 2025 IFRS
YoY -1.7% － -10.1% -2.1% -2.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 5,174,632 287,003 268,386 197,421 323.3 100 May 7, 2024 IFRS
Mar, 2025 4,859,647 165,068 144,315 91,867 144.4 100 May 8, 2025 IFRS
Mar, 2026 Guidance 4,600,000 ー 110,000 75,000 117.9 80 Nov 6, 2025 IFRS
YoY -5.3% － -23.8% -18.4% -18.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 1,239,640 25,084 20,393 14,969 23.5 2.0 Nov 6, 2024 IFRS
Oct - Dec, 2024 1,224,689 87,457 81,766 57,616 90.6 7.1 Feb 6, 2025 IFRS
Jan - Mar, 2025 1,184,177 7,823 2,586 -8,234 -13.0 0.7 May 8, 2025 IFRS
Apr - Jun, 2025 1,115,313 16,261 10,377 7,128 11.2 1.5 Aug 4, 2025 IFRS
Jul - Sep, 2025 1,117,336 29,504 23,797 19,548 30.7 2.6 Nov 6, 2025 IFRS
YoY -9.9% +17.6% +16.7% +30.6% +30.5%

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