Nippon Steel aims to be the world's best steel producer

Nippon Steel has completed the acquisition of 51% of the common shares of Sanyo Special Steel Co., Ltd., making it a subsidiary. In addition, it acquired all of the shares in Ovako AB, Sweden's leading specialty steel producer. Ovako is now a subsidiary of Sanyo Special Steel. By integrating steel mills through acquisitions, Nippon Steel aims to become the world's best steel producer.

The acquired business units are expected to strengthen the medium and long-term competitiveness of Nippon Steel's specialized steel business. In addition, it will strengthen the company's business fundamentals and technical capabilities to meet the ever-growing domestic and foreign demand for high quality specialty steel products. It aims to maximize the potential of each company and its subsidiaries to create synergies that will help the company achieve its goal of becoming the world's best steel producer.

Nippon Steel's first priority will be to investigate all possible measures to ensure safety, environment, disaster prevention, quality and compliance. The second priority will be to rebuild and strengthen the profit base. The company considers increasing profits in overseas business as its third priority. As part of the latest priority issue, Nippon Steel will focus on measures to promote business transformation, standardization and work style reforms.