JFE Holdings Returns to Profit on Cost Savings, Weaker Yen
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JFE Holdings Inc., Japan’s second-largest steelmaker, returned to profit in its fiscal third quarter, aided by cost reductions and a weaker yen that boosted the value of its exports.
Profit was 20.4 billion yen ($225 million) for the three months ended Dec. 31, the Tokyo-based company said in a statement today. JFE Holdings posted a loss of 12.9 billion yen in the same period a year earlier, according to calculations based on nine-month results released at the time.