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    5401   JP3381000003

NIPPON STEEL CORPORATION

(5401)
  Report
Delayed Japan Exchange  -  01:00 2022-12-02 am EST
2180.00 JPY   -0.64%
12/01Investors with $30 trln to push companies on human rights, social issues
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11/28China Pandemic, Stronger Yen, Tech Issues Sap Tokyo Stock Market
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Nippon Steel says India JV with ArcelorMittal to spend $5 billion to boost capacity

09/28/2022 | 02:49am EST
The logos of Nippon Steel Corp. are didplayed at the company headquarters in Tokyo

TOKYO (Reuters) - An Indian joint venture of ArcelorMittal and Nippon Steel will invest 410 billion rupees ($5 billion) to boost crude steel output capacity by 6 million tones a year at its Hazira plant, the Japanese firm said on Wednesday.

Their joint venture, AM/NS India, will build two blast furnaces, along with other facilities, in its Hazira plant in western India, with plans to start operations by early 2026.

The expansion is aimed at meeting growing steel demand in India and winning a bigger slice of the market.

The annual steel output capacity of the Hazira plant will increase to around 15 million tonnes after the expansion.

Takahiro Mori, executive vice president at Nippon Steel, told Reuters recently that it plans to almost double crude steel output capacity at the Hazira plant to secure more of the growing market.

($1 = 81.8950 Indian rupees)

(Reporting by Yuka Obayashi; Editing by Muralikumar Anantharaman)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL 0.82% 25.665 Real-time Quote.-8.81%
NIPPON STEEL CORPORATION -0.64% 2180 Delayed Quote.16.05%
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Analyst Recommendations on NIPPON STEEL CORPORATION
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Financials
Sales 2023 7 785 B 57 523 M 57 523 M
Net income 2023 597 B 4 415 M 4 415 M
Net Debt 2023 1 749 B 12 921 M 12 921 M
P/E ratio 2023 3,53x
Yield 2023 7,80%
Capitalization 2 007 B 14 834 M 14 834 M
EV / Sales 2023 0,48x
EV / Sales 2024 0,50x
Nbr of Employees 106 528
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
Last Close Price 2 180,00 JPY
Average target price 2 660,00 JPY
Spread / Average Target 22,0%
EPS Revisions
Managers and Directors
Eiji Hashimoto President & Representative Director
Kosei Shindo Chairman
Mutsutake Otsuka Independent Outside Director
Ichiro Fujisaki Independent Outside Director
Noriko Iki Independent Outside Director
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1st jan.Capi. (M$)
NIPPON STEEL CORPORATION16.05%14 834
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