JFE Engineering Targets 2.25 Times Profit in F2015

JFE Engineering plans to increase consolidated recurring profit to 30 billion yen with 500 billion yen of sales in fiscal 2015 ending March 2016 compared with record 13.3 billion yen profit with 294.2 billion yen sales in fiscal 2009. The firm expands the business in offshore market and the business alliance.

JFE Engineering plans to increase consolidated offshore sales to 30 billion yen in fiscal 2012 and to 100 billion yen in fiscal 2015 from around 10 billion yen in fiscal 2009. The firm establishes the sales offices in Europe and India by September and eyes new office in Southeast Asia in future. The firm increases the workforce of offshore business by 100 to 400 in fiscal 2010.

JFE Engineering has started alliance in 4 businesses including shield tunneling machine joint venture with IHI Corporation in the past year. JFE Engineering expects synergy from those alliances while the firm eyes potential alliance.

JFE Engineering estimates 10 billion yen of consolidated recurring profit with 280 billion yen of sales in fiscal 2010. The firm plans 20 billion yen of the profit with 430 billion yen of sales in fiscal 2012.