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MarketScreener Homepage  >  Equities  >  Tokyo  >  Nippon Steel Corporation    5401   JP3381000003

NIPPON STEEL CORPORATION

(5401)
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Nippon Steel : ArcelorMittal complete $7 bil. India steel firm purchase

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12/16/2019 | 09:13am EST

Japan's biggest steelmaker Nippon Steel Corp. and multinational giant ArcelorMittal S.A. said Monday they have completed the purchase of Essar Steel India Ltd. for 500 billion rupees ($7 billion).

ArcelorMittal now owns a 60 percent stake in Essar Steel, which was in insolvency proceedings and gained approval last month for its restructuring plan from the Indian top court, and Nippon Steel holds the remainder.

The two steelmakers last year reached a basic agreement to buy Essar Steel, banking on potential demand for steel in the infrastructure-hungry South Asian country.

Essar Steel, established in 1976 and based in Gujarat state, had been a major producer of construction materials but commenced bankruptcy proceedings in 2017.

The Tokyo- and Luxembourg-based steelmakers have had a strong record of cooperating in overseas ventures, including jointly operating steel plants in the United States with one venture dating back to 1987.

Nippon Steel will hold a press conference on the completion of the purchase on Tuesday.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL -1.69% 16.024 Delayed Quote.2.44%
NIPPON STEEL CORPORATION -1.65% 1488 End-of-day quote.-8.63%
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Financials (JPY)
Sales 2020 5 997 B
EBIT 2020 107 B
Net income 2020 44 233 M
Debt 2020 2 566 B
Yield 2020 0,94%
P/E ratio 2020 39,3x
P/E ratio 2021 12,7x
EV / Sales2020 0,66x
EV / Sales2021 0,60x
Capitalization 1 370 B
Technical analysis trends NIPPON STEEL CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 1 786,36  JPY
Last Close Price 1 488,00  JPY
Spread / Highest target 47,8%
Spread / Average Target 20,1%
Spread / Lowest Target -19,4%
EPS Revisions
Managers
NameTitle
Kosei Shindo President & Representative Director
Katsuhiro Miyamoto Representative Director, VP & Head-Finance
Akihiko Inoue Representative Director & GM-Technical Development
Shoji Muneoka Director
Eiji Hashimoto Representative Director, VP & GM-Global Business
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