JFE Holdings (5411) Q1 2027 earnings summary

Executive summary

• First quarter FY2026 business profit reached ¥32.3 billion, up 98.7% year-over-year; profit attributable to owners of parent was ¥31.2 billion, up 338.1% year-over-year.

• Revenue for 1Q FY2026 rose to ¥1,161.2 billion, a 4.1% increase year-over-year.

• Comprehensive income rebounded to ¥46.1 billion from a loss of ¥26.3 billion in 1Q FY2025.

• Full-year business profit and profit attributable to owners of parent are forecast to remain in line with previous guidance, supported by steel price increases and Indian operations.

• Annual dividend projected at ¥80 per share, with an interim dividend of ¥40, maintaining a payout ratio of around 30%.

Financial highlights

• 1Q FY2026 revenue was ¥1,161.1 billion, up ¥45.8 billion year-over-year.

• Business profit for 1Q was ¥32.3 billion (up ¥16.1 billion YoY); segment profit was ¥25.9 billion (up ¥15.6 billion YoY).

• Operating profit reached ¥47.4 billion, up from ¥16.3 billion in the prior year.

• Exceptional items included a ¥15.0 billion gain on land sales.

• Total assets increased to ¥6,185.9 billion from ¥5,895.2 billion at the end of FY2025.

Outlook and guidance

• FY2026 revenue forecast is ¥4,850.0 billion, up 6.8% year-over-year.

• Business profit projected at ¥215.0 billion (+58.8%), profit before tax at ¥190.0 billion (+117.3%), and profit attributable to owners of parent at ¥150.0 billion (+113.8%).

• Full-year basic EPS forecast at ¥235.80.

• ROE for FY2026 is expected to be around 6%.

• Standalone crude steel production for FY2026 is projected at approximately 21.50 million tonnes.