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TOKYO STEEL MANUFACTURING CO., LTD.

(5423)
  Report
Delayed Japan Exchange  -  01:00 2022-12-09 am EST
1286.00 JPY   +1.66%
10/21Tokyo Steel Manufacturing Co., Ltd. announces an Equity Buyback for 2,800,000 shares, representing 2.47% for ą3,500 million.
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10/21Tokyo Steel Manufacturing Co., Ltd. authorizes a Buyback Plan.
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09/29TOKYO STEEL MANUFACTURING CO., LTD. : Ex-dividend day for interim dividend
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Tokyo Steel cuts product prices by up to 6.5% for September

08/22/2022 | 12:36am EST

TOKYO, Aug 22 (Reuters) - Tokyo Steel Manufacturing Co Ltd said on Monday it will cut steel product prices by up to 6.5% in September from this month, reflecting weak local market conditions amid slackened demand from automakers.

Japan's top electric-arc furnace steelmaker kept prices unchanged for all of its steel products, including its main H-shaped beams, for a third consecutive month in August.

For September, prices for hot rolled coils will drop by 8,000 yen ($58), or 6.5%, to 115,000 yen ($838) a tonne while prices for steel bars, including rebar, will decline by 5,000 yen, or 4.9%, to 97,000 yen a tonne.

Prices of H-shaped beams will remain unchanged.

Overseas steel markets are going through an adjustment due to a slowdown in demand, mainly in Europe, while prices in China stay weak as restrictions to curb the COVID-19 pandemic, bad weather and disruptions in supply chains dent demand, Tokyo Steel said in a statement.

Domestic demand for construction materials remains firm but sheet products face lacklustre demand due to a delay in production recovery by automakers, it said.

Tokyo Steel's pricing is closely watched by Asian rivals such as South Korea's Posco and Hyundai Steel , and China's Baoshan Iron & Steel Co Ltd (Baosteel) .

($1 = 137.2400 yen) (Reporting by Yuka Obayashi; Editing by Rashmi Aich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. 1.20% 5.88 End-of-day quote.-17.88%
HYUNDAI CORPORATION 1.16% 17450 End-of-day quote.3.87%
HYUNDAI MOTOR COMPANY 0.31% 162500 End-of-day quote.-22.25%
HYUNDAI STEEL COMPANY 4.75% 33100 End-of-day quote.-19.27%
POSCO HOLDINGS INC. -0.87% 284000 End-of-day quote.3.46%
TOKYO STEEL MANUFACTURING CO., LTD. 1.66% 1286 Delayed Quote.-8.13%
All news about TOKYO STEEL MANUFACTURING CO., LTD.
10/21Tokyo Steel Manufacturing Co., Ltd. announces an Equity Buyback for 2,800,000 shares, r..
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10/21Tokyo Steel Manufacturing Co., Ltd. authorizes a Buyback Plan.
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Financials
Sales 2023 369 B 2 704 M 2 704 M
Net income 2023 34 271 M 251 M 251 M
Net cash 2023 73 173 M 536 M 536 M
P/E ratio 2023 4,14x
Yield 2023 3,11%
Capitalization 145 B 1 064 M 1 062 M
EV / Sales 2023 0,19x
EV / Sales 2024 0,15x
Nbr of Employees 1 028
Free-Float 37,9%
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Number of Analysts 0
Last Close Price 1 286,00
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Managers and Directors
Toshikazu Nishimoto Deputy Manager-Okayama Plant Steelmaking
Tatsuhiko Matsumura Auditor
Mika Nomoto Auditor
Kiyoshi Imamura Director & Head-Osaka Branch
Toshio Adachi Manager-Utsunomiya Plant