Nippon Steel and JFE Holdings Keeps High Profit in the Firs Half of Fiscal 2006

Japanese integrated steel makers, Nippon Steel and JFE Holdings announced their midterm account settlement in fiscal 2006 at ended of March on Thursday. Nippon Steel’s consolidated recurring profit decreased by 8.7% to 268.9 billion yen. JFE holdings’ consolidated recurring profit decreased by 16.4% to 223.8 billion yen. Their profit decreased from a year ago because their profit in last year increased by the increase in the inventory valuation, while kept high level despite of the material cost increased because they expanded sales volume and improved their selling price against the steel demand in domestic and overseas is continuing good condition for mainly high grade steel products. Nippon Steel distributes at 4 yen per share in 14 years. JFE Holdings distributes at 50 yen per share for the first time since the firm’s inauguration in 2002.Nippon Steel forecasts the consolidated recurring profit is at 525 billion yen in the account settlement at ended of March 2007 while forecasted at 500 billion yen in the first half of September. JFE Holdings forecasts the consolidated recurring profit is at 490 billion yen in the account settlement at ended of March 2007 while forecasted at 470 billion yen in the first half of September. Their profit closes in record high which at 547.4 billion yen for Nippon Steel and at 517.3 billion yen for JFE Holdings.