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

NIPPON STEEL CORPORATION

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Nippon Steel : Japan crude steel annual output to fall below 80 million Tonnes - steel federation

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06/16/2020 | 05:50am EDT
A worker uses a mobile phone in front of steel coils and steel sheets at a distribution warehouse in Urayasu

By Yuka Obayashi

Japan's crude steel output is expected to come in around 35 million tonnes for the April-September period and below 80 million tonnes for the current financial year to end-March, the new head of a steel industry group said on Tuesday.

"It's my personal view, but I still expect Japan's crude steel output is likely to fall below 80 million tonnes for the current financial year," Japan Iron and Steel Federation's new chairman, Eiji Hashimoto, told a news conference.

He had given the same prediction in May as the president of Nippon Steel Corp, the world's third-biggest steelmaker.

Japan's crude steel output for the year to March 2020 was 98.43 million tonnes, down 4.3% from a year earlier.

Asked whether he expects another round of consolidation in the local steel industry to defy slumping demand amid the coronavirus pandemic, Hashimoto said that a merger is not the answer to survival.

"Each steelmaker first needs to do whatever it can do on its own to improve management through measures including cutting down surplus production capacity," he said.

Hashimoto, who became the chairman of the federation on Tuesday, also warned that the relative superiority of Chinese steel mills will increase after the pandemic as they are boosting output and improving technology.

"Our biggest threat is China," he said.

China's steel mills are cranking up output as demand recovers in the world's second-biggest economy following a lifting on curbs on movement and activity imposed to counter the epidemic while Japanese steelmakers have been forced to cut output to reflect weak demand.

(Reporting by Yuka Obayashi; Editing by Tom Hogue and Louise Heavens)

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Financials
Sales 2021 5 067 B 48 005 M 48 005 M
Net income 2021 -121 768 M -1 154 M -1 154 M
Net Debt 2021 2 284 B 21 640 M 21 640 M
P/E ratio 2021 -7,43x
Yield 2021 -
Capitalization 911 B 8 638 M 8 629 M
EV / Sales 2021 0,63x
EV / Sales 2022 0,59x
Nbr of Employees 106 599
Free-Float 89,7%
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Number of Analysts 11
Average target price 1 495,50 JPY
Last Close Price 989,20 JPY
Spread / Highest target 153%
Spread / Average Target 51,2%
Spread / Lowest Target -1,44%
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Managers
NameTitle
Eiji Hashimoto President & Representative Director
Kosei Shindo Chairman
Shuhei Onoyama Representative Director & Vice President
Shinji Tanimoto Representative Director & Vice President
Akihiko Inoue Director
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