Japanese 4 Integrated Steel Makers Revises Up Their Earnings Forecast

Nippon Steel, JFE Holdings, Kobe Steel and Nisshin Steel, Japanese 4 major integrated steel makers, announced on Thursday their earnings forecast for half year settlement of accounts and closing account in fiscal 2006 at ended of March 2007. They are advancing the improvement of their selling price with the expanding of the high-grade steel products demand, are increasing their sales volume, and revised up their consolidated recurring profit forecasts in closing account. Nippon Steel tacked on at 30 billion yen to 250 billion yen for the consolidated recurring profit forecasts in half year settlement of accounts compared from originally expected, and tacked on at 40 billion yen to 500 billion yen for the consolidated recurring profit forecasts in closing account. JFE Holdings added at 10 billion yen to 200 billion for the consolidated recurring profit forecasts in half year settlement of accounts compared from originally expected, and added at 10 billion yen to 470 billion yen for the consolidated recurring profit forecasts in closing account. Kobe Steel added 15 billion yen to 80 billion yen for the consolidated recurring profit forecasts in half year settlement of accounts compared from originally expected, and tacked on at 15 billion yen to 160 billion yen for the consolidated recurring profit forecasts in closing account. Nisshin Steel didn’t change the forecast for the consolidated recurring profit forecasts at 17 billion yen in half year settlement of accounts, but added at 2 billion yen to 42 billion yen for the consolidated recurring profit forecasts in closing account.Sumitomo Metal Industry stopped the announcement of earnings forecast in half year settlement of accounts and closing account. The firm announced both accounts when announced quarterly results for April-June in the last half of July, and added at 5 billion yen to 130 billion yen for the consolidated recurring profit forecasts in half year settlement of accounts compared from originally expected, and tacked on at 10 billion yen to 270 billion yen for the consolidated recurring profit forecasts in closing account.Nippon Steel will distribute 4 yen per share in mid term settlement in 14 years since the half-year ending September, 1992. JFE Holdings will distribute at 50 yen in the first time since the firm’s establishment in 2002. Kobe Steel will distribute at 3 yen in 14 years. Sumitomo Metals will distribute at 5 yen. Nisshin Steel will keeps to distribute at 3 yen per share in mid term settlement.