JFE Holdings beats first-half forecasts, adjusts convertible bond price

JFE Holdings, Inc. announced consolidated financial results for the first half of fiscal year 2025 (April 1 to September 30, 2025) that surpassed its August 4, 2025, forecasts. Business profit reached ¥45.7 billion, exceeding the forecast by ¥5.7 billion, while profit attributable to owners of the parent company hit ¥26.6 billion, outperforming the forecast by ¥11.6 billion.

This improvement was largely driven by the Steel business, which saw its segment profit improve by ¥9.7 billion to a loss of ¥5.3 billion, and the Engineering business, with segment profit up ¥3.6 billion to ¥12.6 billion. The Trading business, however, saw segment profit decline by ¥3.1 billion to ¥21.9 billion.

The improved performance led to an adjustment in the conversion price of JFE Holdings' Zero Coupon Convertible Bonds due 2028. Effective October 1, 2025, the conversion price was adjusted from ¥2,759.0 to ¥2,697.7. This adjustment resulted from an extraordinary dividend payment of ¥40 per share, approved by the board of directors on November 6, 2025, reflecting the company’s stronger financial position.

For fiscal year 2025, JFE Holdings forecasts revenue of ¥4,600,000 million, business profit of ¥140,000 million, and profit attributable to owners of parent of ¥75,000 million. Interim dividends for FY2025 are forecasted at ¥40.00 per share.