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Japan’s Nippon Steel, Kobe Steel to cut stakes in each other

Nippon Steel & Sumitomo Metal Corp <5401.T> and Kobe Steel Ltd <5406.T> said on Wednesday they will reduce stakes in each other to raise funds for expansion overseas and for improving competitiveness. The companies built up equity stakes in each ...

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Japan steelmakers may boost exports on weak home demand, adding to glut

Japan’s top steelmakers reported higher first-half earnings this week, but slowing demand and bloated stockpiles could push them to sell more overseas, adding to a global glut that has dragged Asian prices to five-year lows. Prime Minister Shinzo Abe’s sales ...

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