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Jfe Group Business Report 2007

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Jfe Group Business Report 2007 2007 JFE GROUP BUSINESS REPORT PROFILE OF THE JFE GROUP JFE GROUP Editorial Policy CONTENTS BUSINESS REPORT 2007 This Business Report aims to report various activities of the 1 Profile of the JFE Group JFE Group in an easily understandable manner to its 2 Editorial Policy stakeholders (parties who affect, or can be affected by, the 3 Business Highlights : Main Financial Data and Main CSR Data Corporate Vision Corporate Values Company’s actions). Starting with the 2006 edition, the 5 Message from the CEO: Business Report has also combined the conventional To All Stakeholders Annual Report and Environmental Sustainability Report. The JFE Group–contributing to society with the A Challenging Spirit, Flexibility, Sincerity The Special Feature section elaborates our activities to Special Feature world’s most innovative technology realize a highly profitable earnings structure and social contribution through such activities, with “the JFE Group’s 9 JFE Pride: World-Class Steelmaking Know-How technological capabilities and human resource power” as 15 Creating an Earth-friendly Environment its main theme. The JFE Group is broadly carrying forward development of businesses with steel and engineering at its core. The following sections describe the Group’s main Management Organization activities and performance data from three points of view, 18 Members of the Board, Corporate Auditors and Corporate Officers of JFE Holdings i.e., Economic, Social and Environmental aspects. 19 Management Organization and Internal Control JFE Holdings, Inc. Headquarters of the JFE Group JFE Steel Corporation 21 CHAPTER Ⅰ Economic Aspects This is the JFE Group’s streamlined head office, responsible JFE Steel Corporation is an integrated steel producer ranking fourth* in 22 Business Overview of the JFE Group for group-wide strategic functions, risk management and the world in terms of crude steel production. It is highly competitive 23 JFE Steel Corporation accountability to the public as the center of unified governance of internationally thanks to the unique strengths of a framework built Organizations Subject to the Report and 27 JFE Engineering Corporation the Group. on two major steelworks—one each in eastern and western Japan. Compilation of Data JFE Steel produces and sells a wide range of high-value-added products 29 JFE Urban Development Corporation and Only One and Number One products, taking advantage of its world- This report covers JFE Holdings, Inc., JFE Steel 30 Kawasaki Microelectronics, Inc. Established: September 27, 2002 class technology and product development capabilities. Corporation, JFE Engineering Corporation, JFE Urban 31 R&D Aimed at Further Progress and Growth Address: 1-5-1 Marunouchi, Chiyoda-ku, Tokyo 100-6527 *Source: Metal Bulletin Development Corporation, Kawasaki Microelectronics, Inc., Consolidated net sales: ¥3,260.4 billion (fiscal year ended March 31, 2007) JFE R&D Corporation and their respective consolidated 33 CHAPTER Ⅱ Social Aspects Consolidated JFE Engineering Corporation subsidiaries and affiliates subject to the equity method (i.e., 34 Message from Senior Management ordinary income:¥513.5 billion (fiscal year ended March 31, 2007) JFE Engineering Corporation is responsible for the engineering business, 213 consolidated subsidiaries and 41 affiliates subject to 35 Activities for the Year Ended March 2007 which is the JFE Group’s core business, together with steel. JFE the equity method). However, consolidated subsidiaries 37 CSR System Engineering Corporation provides solutions based on advanced of these operating companies are excluded from the 39 With Customers and Clients technologies in the fields of energy (mainly pipelines and LNG plants), scope of environmental performance data unless 41 With Shareholders and Investors JFE Kawasaki environment (e.g., waste disposal facilities, water supply and sewerage specified otherwise. Urban Development Corporation Microelectronics, Inc. 43 With Local Communities facilities, biomass utilization), steel structures (e.g., bridges, steel Data for the year ended March 2003 and before were compiled by adding together the data of Kawasaki Steel Corp. and NKK Corp. before the merger. 45 With Our Employees ¥34.3 billion ¥44.3 billion frames), systems (e.g., industrial machinery) and logistics. JFE Engineering JFE Urban Development Corporation 49 CHAPTER Ⅲ Environmental Aspects Corporation JFE Urban Development Corporation creates a pleasant urban 50 Message from Senior Management ¥292.1 environment through its four businesses: the large-scale complex 51 JFE Steel’s Activities to Prevent Global Warming billion development business, which involves the redevelopment of idle land Period Subject to the Report 55 JFE Engineering’s Products/Technologies Which Contribute to Global Warming Prevention Gross sales of owned by the JFE Group and the creation of new urban districts; the 57 International Contribution by Providing Environment/Energy Technologies the JFE Group condominium business, which supplies distinctive, high-quality In principle, this report covers the year ending March 31, 58 Operating Companies’ Activities to Reduce Environmental Loads 2007 (from April 1, 2006 to March 31, 2007). ¥3,260.4 condominiums; the real estate solutions business, which engages in the 59 Recycling Technology Contributing to a Sustainable Society billion Some sections include activities in the year ending March 2008. redevelopment of land owned by third parties; and the property 61 Environmental Management development business, which executes the development, management 63 Priority Environmental Targets and Results JFE Steel Corporation and operation of real estate assets. ¥2,925.1billion 64 Third-party Comments Kawasaki Microelectronics, Inc. Kawasaki Microelectronics, Inc. is an LSI vendor specializing in Scheduled Publication Date of the Next Report 65 Financial Section sophisticated, high-value-added ASIC (Application Specific Integrated For a more detailed information, please access our website: Five-year Financial Summary Circuit). It offers a comprehensive range of services to its customers from June 2008 66 JFE Holdings, Inc. http://www.jfe-holdings.co.jp/en/index.html 67 Consolidated Balance Sheets Financial information http://www.jfe-holdings.co.jp/en/investor/index.html designing and development to manufacturing, testing and shipping. Its Environmental Report http://www.jfe-holdings.co.jp/environment/index.html strength is demonstrated in products for LCD panels, as reflected in its 69 Consolidated Statements of Income substantial market share worldwide. 70 Consolidated Statements of Shareholders’ Equity 71 Consolidated Statements of Changes in Net Assets JFE R&D Corporation Caution Regarding Forward-Looking Statements 73 Consolidated Statements of Cash Flows This report contains forward-looking statements regarding future plans, JFE R&D Corporation is a concept-creating research institution that strategies and other activities of the JFE Group, which are exposed to risks and 74 Notes to Consolidated Financial Statements undertakes further development of core technologies shared between uncertainties. Actual results may substantially differ from these forward-looking 82 Report of Independent Auditors the JFE Group’s core businesses, namely, steel and engineering, and statements, due to the impact of various factors including but not limited to the economic climate and market environment surrounding the business sectors in 83 Major Consolidated Subsidiaries and Equity Method Affiliates opens up possibilities for new technologies by combining them which the JFE Group operates, exchange rates, and trends in the demand for organically with such elemental technologies. products and services. 84 Shareholder Information 1 2 BUSINESS HIGHLIGHTS Main Financial Data Main CSR Data JFE Holdings, Inc. and Consolidated Subsidiaries Millions of yen Thousands of (Unless otherwise specified) U.S. dollars*1 Social Aspects Years ended March 31 2007 2006 2005 2007 Years ended March 31 2005 2006 2007 Operating Results (For the Year) Number of employees (consolidated) (persons) 52,503 53,111 53,610 Net sales ¥3,260,447 ¥3,098,374 ¥2,803,699 $27,619,203 Number of regularly-hired employees*1 *2 (persons) 275 533 515 EBITDA*2 705,712 708,171 662,221 5,978,077 Number of mid-career employees*1 (persons) 94 131 149 Operating income 503,938 517,171 467,237 4,268,852 Employment rate for disabled persons at JFE Steel*3 (%) 1.86 1.94 2.05 Ordinary income*3 513,520 517,313 460,684 4,350,021 Net income 299,683 325,996 160,057 2,538,610 Financial Position (At Year-end) Total assets 3,872,142 3,630,322 3,656,389 32,800,864 Environmental Aspects Net assets*4 1,539,621 1,310,381 968,614 13,042,109 Debt and corporate bonds outstanding 1,180,532 1,162,857 1,446,785 10,000,271 Years ended March 31 2005 2006 2007 JFE Steel Corporation Financial Indexes CO2 emissions (million t -CO2) 55.1 52.6 55.8 Return on Sales (ROS)*5 15.8% 16.7% 16.4% Energy consumption (PJ) 667 643 679 Return on Assets (ROA)*6 14.1% 14.6% 13.1% Return on Equity (ROE)*7 21.3% 28.6% 18.7% JFE Engineering Corporation Equity capital ratio*8 38.8% 36.1% 26.5% CO2 emissions (million t -CO2) 0.014 0.014 0.015 Debt-to-equity ratio*9 78.6% 88.7% 149.4% Kawasaki Microelectronics, Inc. Per Share Data CO2 emissions (million t -CO2)*4 0.052 0.060 0.050 Net income (yen) ¥ 513.58 ¥ 555.02 ¥ 273.97 $ 4.35 Net assets (yen) 2,548.09 2,236.32 1,652.31 21.58 *1 Total of JFE Holdings, Inc. and five major operating companies Cash dividends (yen) 120.00 100.00 45.00 1.01 *2 Number of employment in April 2005, April 2006, and April 2007 *3 As of June 1, 2005, June 1, 2006, and June 1, 2007 *4 Figures include emissions of three alternative CFC gases including PFC Reference: JFE Steel Corporation Consolidated Crude steel output (thousand t) 32,828 30,145 31,281 Non-consolidated Crude steel output (thousand t) 29,037 26,718 27,648 Sales volume (thousand t) 26,430 24,571 25,725 Average sales price (thousand yen/t) 76.0 76.9 61.7 Notes:*1 Translations of the Japanese yen amounts into U.S.
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