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Nippon Steel, JFE to post better current profits in yr to March - report


Published : Thu, 22 Feb 2007 22:59
By : Agencies
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TOKYO (XFN-ASIA) - Nippon Steel Corp is expected to post a record current profit of 580 bln yen for the year ending March

31, higher than its forecast of 525 bln yen, amid growing demand for high-grade products, the Nikkei reported, without citing sources.

Its sales are likely to rise 6 pct from a year earlier to 4.15 trln yen thanks to brisk demand for high-grade-steel used in automobiles and also in ships and machinery, the business daily said.

JFE Holdings Inc is projected to log 500 bln yen in current profit, better than its estimate of 490 bln

yen, as sales are seen climbing 5 pct from a year earlier to 3.25 trln yen, according to the Nikkei.

(1 usd = 121.58 yen)

yasuhiko.seki@xfn.com

ys/mas

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