August 5, 2024
Company Name:
Representative:
Contact:

JFE Holdings, Inc. (Code: 5411)
Yoshihisa Kitano, President and CEO
Tomoko Takami, Manager, Public Relations Section,Investor Relations and Corporate Communications Department
Tel: +81-3-3597-3842

To whom it may concern:
Notice of Revised Financial Results Forecasts and Dividend Forecasts
JFE Holdings, Inc. announces herewith its revised consolidated financial results forecasts anddividend forecasts, which were initially announced on May 7, 2024 and have now been revised due
to recent trends in business performance.
■ Revised consolidated financial results forecasts
Fiscal 2024 first half (April 1, 2024 to September 30, 2024)
Revenue(million yen)Previous forecast (A)New forecast (B)Amount of change (B-A)
Change (%)
Reference:
1H Fiscal 2023 results

Business
profit*(million yen)

Profitbefore tax(million yen)

2,460,000-

85,000-65,000-2,576,588

164,346

Profitattributableto ownersof parent(million yen)Basicearnings
per share(yen)45,000-70.76

155,363

110,091

186.97

Profitbefore tax

Profitattributableto ownersof parent

Basicearnings
per share

Fiscal 2024 full year (April 1, 2024 to March 31, 2025)
Revenue(million yen)

Businessprofit*(million yen)(million yen)Previous forecast (A)New forecast (B)Amount of change (B-A)
Change (%)

5,390,000
5,240,000(150,000)(2.8)

300,000
260,000(40,000)(13.3)

310,000
275,000(35,000)(11.3)

Reference:
Fiscal 2023 results

5,174,632

298,224

268,386(million yen)(yen)

220,000
205,000(15,000)(6.8)

345.93322.35

197,421323.33* Business profit is profit before tax, excluding financial income and one-time items of a materially significant value, used
as a benchmark indicator of the company’s consolidated earnings.

JFE Holdings is now disclosing its consolidated financial results forecasts for the first half of thefiscal 2024 yearend on March 31, 2025, which were not finalized when the company announced its
fiscal 2023 financial results earlier.
For the full year, business profit is expected to be 260.0 billion yen, 40.0 billion yen lower than theprevious forecast, mainly due to the impact of volume declines in the steel business. Details bybusiness segment follow.

In the steel business, non-consolidated crude steel production is expected to be about 23 million
tons, 400,000 tons below the previous forecast, due to the impact of quality and certification issues
in the domestic automobile sector and a decrease in automobile exports to Asia. Segment profit1 isexpected to be 165.0 billion yen, 40.0 billion yen lower than the previous forecast, due to factors
such as the impact of lower volumes, and inventory valuation differences.
In the engineering business, segment profit is expected to be 20.0 billion yen, the same as theprevious forecast, due to the continued high level of orders, mainly in the waste-to-resource andcore infrastructure fields.
In the trading business, segment profit is expected to be 50.0 billion yen, the same as the previous
forecast, as domestic demand for automobiles is expected to recover gradually in the second halfof the fiscal year, despite factors that may reduce profits, such as sluggish demand in China.
As a result, profit before tax after accounting for exceptional items is expected to be 275 billion yen,
35 billion yen lower than the previous forecast, and profit attributable to owners of parent is
expected to be 205 billion yen, 15 billion yen lower than the previous forecast.
Note: Segment profit is profit including financial profit and loss in business profit, used as a benchmark indicator of eachsegment’s performance.

■ Revised dividend forecast
Fiscal 2024 (April 1, 2024 to March 31, 2025)
Dividend per share (yen)End of 1stquarterInterimEnd of 3rdquarterYearend

Full year

Previous forecast(May 7, 2024)----

110.00

Revised forecast-50.00-60.00110.00

Dividends in current fiscal year-

Dividends in previous fiscal
year (ended March 31, 2024)-50.00-50.00100.00In view of the company’s now-released consolidated first-quarter financial results and forecast offiscal 2024 financial results, the board of directors of JFE Holdings agreed to a fiscal 2024 interim
dividend of 50 yen per share and a yearend dividend of 60 yen per share, 110 yen per share forthe full year, when it met today, August 5, 2024.