JFE Holdings plans to boost foreign investment as part of a long-term goal to double profits, Japan’s No. 2 steelmaker said on Tuesday, as it posted a 21.4% increase in annual net profit but also a smaller signaled an increase for this year.
JFE President Yoshihisa Kitano, who took over on April 1, said he would accelerate the company’s strategic shift from quantity to quality, but gave no timetable for doubling corporate profits, other than to say it would take more than 3 to 5 years would last. .
“Boosting foreign profits is essential to our goal of doubling profits,” he told a news conference, highlighting the growth potential of companies in North America, India, Indonesia and the Middle East.
