Latest mergers in Japan could be last round of consolidation for a while
Oct 01, 2012 | 10:30 AM
TOKYO The Japanese steel industry on Oct. 1 saw the creation of two major entities, Nippon Steel & Sumitomo Metal Corp. and Nisshin Steel Holdings Co. Ltd., marking the biggest day in the history of the industrys consolidation since NKK Corp. merged with Kawasaki Steel Corp. 10 years ago to form JFE Holdings Inc.
But the two new groups will face major challenges amid growing competition overseas and a host of short- and long-term problems at home.
Nippon Steel & Sumitomo Metal has said that its business strategy will revolve around three major principles: cost-cutting and streamlining its operations, expanding its presence overseas, and maintaining its technological edge over rivals.....
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