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JFE, which was created in September 2002 through the merger of NKK Corp. and Kawasaki Steel Corp., blamed the result on weak demand for steel products from automakers and other manufacturers as well as falls in their prices.
Sales decreased 37.9 percent to 1.31 trillion yen, JFE said.
Swinging into the black in the July-September quarter, JEF foresees a group net profit of 24 billion yen for fiscal 2009 to next March 31, down 87.6 percent from the previous year.
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