Japan's JFE 9-month profit dips, keeps forecast

Newswire

TOKYO, Jan 31 (Reuters) - JFE Holdings Inc. , the world's fourth-biggest steel maker, posted a 6.4 percent drop in nine-month profit despite strong sales to a booming Japanese auto sector. JFE, a big supplier to an industry led by Toyota Motor Corp. and Honda Motor Co. Ltd. , booked 354.43 billion yen ($2.92 billion) in April-December pretax recurring profit, versus 378.52 billion yen a year earlier, when high raw materials prices inflated the value of its inventories and boosted earnings. ...

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