JFE Group Investor Meeting May 8, 2026

Performance Overview

In FY2025, operating profit was 135.3 billion yen (excluding inventory valuation differences: 166.3 billion yen), and net income attributable to owners of parent was 70.1 billion yen. For FY2026, operating profit is forecasted at 215.0 billion yen and net income at 150.0 billion yen. The dividend will be maintained at 80 yen for FY2025, with a policy aiming for approximately 30% payout ratio in FY2027, with a minimum of 80 yen. The goal is to achieve at least 10% ROE in FY2027.

Business Environment and Mid-term Management Plan

Amid increased geopolitical risks due to deceleration of the Chinese economy, protectionism in the United States, and worsening Middle East tensions, steel spreads are significantly below mid-term assumptions, and earnings for FY2026 are also expected to fall short of initial projections. The company is working to raise steel product prices against a backdrop of rising raw material costs such as coke. Based on the 'JFE Vision 2035' and the 8th Mid-term Management Plan, efforts include technology development and human resource creation at domestic production sites and expansion of insider businesses in overseas growth regions.