Company Information

   The JFE Group aims to create a corporate group with a strong earnings base and highest efficiency for the long term.

Financial Targets

   Backed by the synergy effects of its consolidation, as well as strategic efforts to raise profitability, the JFE Group aims to reach the following financial targets:

Consolidated financial targets

  FY ending March 31, 2006
(estimate)		 FY ending March 31, 2009
(target)
Ordinary Income 500 billion yen Approx. 500 billion yen

 

  At the end of March 2006
(estimate)		 At the end of March 2009
(target)
Outstanding
interest-bearing debt		 1,200 billion yen Approx. 800 billion yen
Debt-to-equity ratio 96% Below 50%

Cash flow utilization plan (fiscal years from April 1, 2006 through March 31, 2009 cumulative)

Source   Use
Net income 800 billion yen  
Dividends
200 billion yen
(payout ratio: Approx. 25%)
 
Repayment of
Interest-bearing debt
400 billion yen
  Investing and financing 780 billion yen
Depreciation 580 billion yen  

(1,380 billion yen)

† Excerpt from the JFE Group's Second Medium-Term Business Plan announced on March 9, 2006.