Japanese 4 Integrated Steel makers Increases Recurring Profit in April-June

Japanese 5 integrated steel makers’ settlement was good in April-June thanks to strong demand. 4 makers’ recurring profits increased in April-June compared with same period of 2006. Nippon Steel’s consolidated recurring profit increased by 20.8% to 148.6 billion yen, JFE Holdings’s profit increased by 58.8% to 145.2 billion yen, Sumitomo Metal Industries’s profit increased by 8.8%, Nisshin Steel’s profit increased by 137.2% while Kobe Steel decreased by 20.4％ due to increased ocean freight, decreased stock value of aluminum and copper and decreased selling volume of electronic materials. Each maker keeps high pace for their recurring profit compared with earnings guidance. JFE Steel revised the earnings guidance of the recurring profit to 540 billion yen in annual recurring profit for the year to March 2008 from 520 billion yen.