TOKYO — Japanese steelmaker JFE Holdings' efforts to regain market confidence from JSW Steel, its fast-growing Indian arm, have struggled as the stock price struggles to recover from year-lows.
JFE shares closed at ¥1,832 on Tuesday, down nearly 20% since the start of the year. On Oct. 5, the company said it expects group net profit to rise 4% to 205 billion yen ($1.37 billion) this fiscal year, cutting its forecast by 15 billion yen.