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JFE Holdings Reports Stronger Fiscal Q1 Profit; Shares Up 2%

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JFE Holdings (TYO:5411) posted a 338% year-over-year surge in attributable profit for the fiscal first quarter to 31.2 billion yen from 7.1 billion yen.

Basic EPS was 49.09 yen, compared with 11.21 yen a year earlier, according to a Tokyo bourse filing on Wednesday.

Revenue rose 4% to 1.161 trillion yen from 1.115 trillion yen for the three months ended June 30.

The steel producer plans to pay interim and year-end dividends of 40 yen per share each for the current fiscal year, unchanged from a year earlier.

Shares of the steel producer rose nearly 2% in recent trade.

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