JFE Holdings, Inc.

GLP Japan, a major logistics facility developer, announced on the 25th that it will develop 11 logistics facilities with freezing and refrigeration functions on the former blast furnace site of JFE Steel's East Japan Works in the Keihin area of Kawasaki City. The total investment will exceed 300 billion yen, consolidating facilities in a bayside area close to the city center and building a high-function food logistics network in the Tokyo metropolitan area.

JFE Holdings has revised upward its consolidated revenue forecast for the fiscal year ending March 2027. The main factor is the pass-through of steel price increases. The company raised its outlook for consolidated results based on International Financial Reporting Standards.

JFE Holdings announced its consolidated results for the April–June quarter under IFRS, with net profit surging 338.1% year on year to 31.2 billion yen. Details on revenue and other profit levels were not disclosed, but the company achieved a significant profit increase. JFE Holdings is a major corporate group centered on the steel business.

JFE Holdings is focusing its steel business on the United States and India. In the U.S., it operates two joint ventures with Nucor, the largest electric arc furnace steelmaker, and President Yoshihisa Kitano highlighted high-grade steel categories such as electrical steel sheets and automotive steel sheets as key areas. In India, JFE invested 270 billion yen in a subsidiary of JSW Steel, fully participating in the operation of a steel plant with an annual crude steel production capacity of 4.5 million tons, and is eyeing expansion to 10 million tons by 2030 and further to 15 million tons. India's per capita steel consumption is around 100 kilograms per year, and President Kitano sees future motorization and electrification as the keys to growth.