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

NIPPON STEEL CORPORATION

(5401)
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End-of-day quote. End-of-day quote Tokyo Stock Exchange - 09/23
1035 JPY   -2.59%
09/15Japan's JFE aims to cut CO2 emissions by 20% by 2030
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09/01NIPPON STEEL : to seek M&As overseas, but not in Japan - president
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08/30Defying trade tensions, Chinese buyers snap up Indian steel
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Nippon Steel appeals South Korea court ruling on asset seizure

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08/07/2020 | 12:21am EDT
FILE PHOTO: Nippon Steel Corp's logo is displayed at the company headquarters in Tokyo

Nippon Steel Corp has filed an appeal against a South Korean court decision last year that would allow for a seizure of its assets to compensate labourers forced to work during World War II, a court official said on Friday.

The potential seizure stems from a 2018 ruling by South Korea's Supreme Court ordering the steelmaker to compensate four plaintiffs - a ruling that has triggered diplomatic tension and trade friction between the Asian neighbours.

Japan argues the ruling violates international law because all claims for compensation arising from Japan's 1910-1945 colonisation were settled under their 1965 diplomatic treaty. It warned on Tuesday it would have to respond if the assets were seized.

The South Korean government says the ruling must be respected as a decision by an independent judiciary.

In a move widely seen as retaliation for the 2018 ruling, Japan last year said it would stop preferential treatment for shipments to South Korea of some key high-tech materials whose production it dominates and which are used by firms such as Samsung Electronics Co.

Talks to resolve the export curbs have stalled and South Korea is proceeding with a complaint to the World Trade Organization.

Nippon Steel was ordered to pay 100 million won ($84,150) each to four South Koreans as compensation. Its shares in the joint venture with Korean steelmaker POSCO, called PNR, have been targeted for seizure and are worth about 400 million won at face value.

The appeal by Nippon Steel was filed with the District Court in Daegu, a court official said.

(Reporting by Sangmi Cha; Editing by Jack Kim and Edwina Gibbs)

Stocks mentioned in the article
ChangeLast1st jan.
NIPPON STEEL CORPORATION -2.59% 1035 End-of-day quote.-37.42%
POSCO 0.26% 195000 End-of-day quote.-17.55%
SAMSUNG ELECTRONICS CO., LTD. 0.69% 58600 End-of-day quote.5.02%
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All news about NIPPON STEEL CORPORATION
09/15Japan's JFE aims to cut CO2 emissions by 20% by 2030
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09/01NIPPON STEEL : to seek M&As overseas, but not in Japan - president
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08/30Defying trade tensions, Chinese buyers snap up Indian steel
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08/28Defying trade tensions, Chinese buyers snap up Indian steel
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08/17UPDATE1 : S. Korea court rejects Nippon Steel appeal over asset seizure: Yonhap
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08/16URGENT : S. Korea court rejects Nippon Steel appeal over asset seizure: Yonhap
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08/16NIPPON STEEL : Urgent Headline News
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08/14SAMSUNG ELECTRONICS : S.Korea’s Moon says always ready to talk with Japan over h..
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Financials
Sales 2021 4 847 B 45 979 M 45 979 M
Net income 2021 -149 017 M -1 414 M -1 414 M
Net Debt 2021 2 253 B 21 374 M 21 374 M
P/E ratio 2021 -6,39x
Yield 2021 0,58%
Capitalization 953 B 9 048 M 9 039 M
EV / Sales 2021 0,66x
EV / Sales 2022 0,61x
Nbr of Employees 106 599
Free-Float 90,9%
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Technical analysis trends NIPPON STEEL CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 1 426,00 JPY
Last Close Price 1 035,00 JPY
Spread / Highest target 77,8%
Spread / Average Target 37,8%
Spread / Lowest Target 9,18%
EPS Revisions
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
Sector and Competitors
1st jan.Capitalization (M$)
NIPPON STEEL CORPORATION-37.42%9 315
NUCOR-18.83%13 791
ARCELORMITTAL-32.71%13 473
POSCO-17.55%13 322
STEEL DYNAMICS, INC.-13.66%6 183
GERDAU S.A.3.60%6 118