JFE Holdings, Inc. reported consolidated earnings results for the nine months ended December 31, 2016. For the period, the company reported net sales of JPY 2,311,740 million against JPY 2,548,080 million for the same period a year ago. Operating income was JPY 36,416 million against JPY 74,722 million for the same period a year ago. Ordinary income was JPY 44,194 million against JPY 63,034 million for the same period a year ago. Profit attributable to owners of parent was JPY 33,298 million against JPY 37,332 million for the same period a year ago. Net income per share was JPY 57.74 against JPY 64.73 for the same period a year ago. Income before income taxes was JPY 56,151 million against JPY 70,334 million for the same period a year ago. Comprehensive income attributable to owners of parent was JPY 9,653 million compared to loss of JPY 34,996 million a year ago.

The company revised earnings guidance for the year ending March 31, 2017. For the year, the company now expects profit attributable to owners of the parent of JPY 50,000 million or JPY 86.70 per share on revenues of JPY 3,320,000 million, operating income of JPY 80,000 million and ordinary income of JPY 70,000 million against previously forecasted profit attributable to owners of the parent of JPY 15,000 million or JPY 26.01 per share on revenues of JPY 3,290,000 million, operating income of JPY 50,000 million and ordinary income of JPY 30,000 million. Earnings now are forecasted to exceed previous forecasts due to favorable factors such as the stronger yen and unrealized gains on inventories, mainly in steel business. The company expects profit before income taxes of JPY 90 billion against previously forecasted JPY 33.5 billion. Return on assets is expected to be 2.0% and return on equity is expected to be 2.7%.