logo
Nippon Steel Looking to Double Its U.S. Steel Output in 5 Years, Says CEO

Nippon Steel Looking to Double Its U.S. Steel Output in 5 Years, Says CEO

Yomiuri Shimbun09-07-2025
Nippon Steel Corp. plans to double its crude steel production in the United States in three to five years, according to its chairman and chief executive officer, Eiji Hashimoto.
During an interview with The Yomiuri Shimbun on Tuesday, Hashimoto outlined a plan to achieve the goal by improving production efficiency at U.S. Steel Corp., its wholly owned subsidiary. The newly purchased firm is also to be equipped with cutting-edge technology.
Globally, Nippon Steel plans to increase its crude steel output from 58 million tons at present to 100 million tons by expanding production in India and Thailand, said Hashimoto.
At U.S. Steel, whose buyout took about 18 months to pull off, Nippon Steel plans to invest $11 billion (about ¥1.6 trillion) by 2028 to upgrade aging production facilities, added Hashimoto.
U.S. Steel currently produces about 11 million tons of crude steel in the United States, maintaining a U.S. market share of around 15%.
Nippon Steel plans to improve U.S. Steel's product lineup by providing advanced manufacturing technologies, such as for high-performance electrical steel sheets, which are used in large transformers and motors for electric vehicles.
By improving production efficiency, the firm aims to boost yield and reduce costs.
'Through our new investments, we will expand capacity, broaden our production offerings and double production,' Hashimoto said.
Though 40 engineers have been dispatched to the United States, Hashimoto indicated that more personnel would be needed to support the move to greater capacity and an enhanced product lineup.
The U.S. government holds a 'golden share' in U.S. Steel, giving it veto power over key management decisions. While the government could change how it involves itself in the firm after an election, Hashimoto said, 'I am not concerned because the U.S. government's goal of restoring the manufacturing industry aligns with Nippon Steel's management strategy.'
By raising global crude steel production to 100 million tons, Nippon Steel aims to become the world's leading steel manufacturer. Acknowledging that ArcelorMittal S.A., a European giant in the industry, is currently the 'actual world leader,' Hashimoto said, 'We must close the gap and then overtake them.'
In 2019, Nippon Steel and ArcelorMittal jointly acquired a steel manufacturer in India. The companies now plan to increase steel output by 15 million tons and establish one of the world's largest steel mills there.
Additionally, Nippon Steel plans to increase its production capacity in markets where it operates independently, such as Europe and Thailand.
The steelworks owned by U.S. Steel in Slovakia could be expanded to more than twice their current capacity. Nippon Steel also plans to continue investing in facilities in Thailand, aiming to secure a majority of the market.
With China continuing to export low-priced steel to the global market, Hashimoto argued that 'To avoid negative impacts from China, we can't allow it to dominate crucial markets like the United States, India, Europe and Thailand.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Taiwan crisis would 'immediately affect' Europe: Czech president
Taiwan crisis would 'immediately affect' Europe: Czech president

Nikkei Asia

time19 hours ago

  • Nikkei Asia

Taiwan crisis would 'immediately affect' Europe: Czech president

Czech Republic President Petr Pavel sits for an interview in Tokyo on July 25. (Photo by Shintaro Ino) SHIGERU SENO TOKYO -- A crisis involving Taiwan would have a ripple effect reaching all the way to Europe, Petr Pavel, president of the Czech Republic, told Nikkei in an exclusive interview. "War in the region would severely harm all the flow of goods globally," Pavel said Friday during his stay in Tokyo. "From a European point of view, any conflict in this region would immediately affect the economic situation in Europe."

Mizuho Securities to buy UK renewables M&A advisory firm
Mizuho Securities to buy UK renewables M&A advisory firm

Nikkei Asia

time21 hours ago

  • Nikkei Asia

Mizuho Securities to buy UK renewables M&A advisory firm

Mizuho Securities will acquire a renewable energy M&A advisory company based in London. (Source photos by Nikkei) KODAI MIHARA TOKYO -- Mizuho Securities will acquire U.K. mergers and acquisitions adviser Augusta & Co. as part of a bid to expand its foothold in Europe and diversify revenue sources. Mizuho hopes to draw on Augusta's expertise in renewable-energy-related deals along with the Japanese group's own network of customers to take on some of the growing European M&A demand in that field.

Iran and Europeans hold 'frank' nuclear talks with UN sanctions looming
Iran and Europeans hold 'frank' nuclear talks with UN sanctions looming

Japan Today

timea day ago

  • Japan Today

Iran and Europeans hold 'frank' nuclear talks with UN sanctions looming

General view of the Iranian Consulate where Iran holds nuclear talks with so-called E3 group of France, Britain and Germany, in Istanbul, Turkey, July 25, 2025. REUTERS/Dilara Senkaya By Ali Kucukgocmen and John Irish Iran said it would continue nuclear talks with European powers after "serious, frank, and detailed" conversations on Friday, the first such face-to-face meeting since Israel and the U.S. bombed Iran last month. Before the meeting in Istanbul, Iran also pushed back on suggestions of extending the United Nations resolution that ratifies a 2015 deal, nearing expiry, that was designed to curb its nuclear programme. Delegations from the European Union and so-called E3 group of France, Britain and Germany met Iranian counterparts for about four hours at Iran's consulate for talks that the U.N. nuclear watchdog said could provide an opening to resume inspections in Iran. IRAN AND EUROPEANS PRESENT IDEAS Iranian Deputy Foreign Minister Kazem Gharibabadi said afterward that both sides had presented specific ideas on sanctions relief and the nuclear issue. "While seriously criticising their stances regarding the recent war of aggression against our people, we explained our principled positions, including on the so-called snapback mechanism," he said. "It was agreed that consultations on this matter will continue." The European countries, along with China and Russia, are the remaining parties to the 2015 deal - from which the U.S. withdrew in 2018 - which lifted sanctions on Iran in return for restrictions on its nuclear programme. A deadline of Oct. 18 is fast approaching when the resolution governing that deal expires. At that point, all U.N. sanctions on Iran will be lifted unless the "snapback" mechanism is triggered at least 30 days before. This would automatically reimpose those sanctions, which target sectors from hydrocarbons to banking and defence. To give time for this to happen, the E3 have set a deadline of the end of August to revive diplomacy. Diplomats say they want Iran to take concrete steps to convince them to extend the deadline by up to six months. EUROPEANS WANT NUCLEAR COMMITMENTS FROM IRAN Iran would need to make commitments on key issues including eventual talks with Washington, full cooperation with the U.N.'s International Atomic Energy Agency (IAEA), and accounting for 400 kg (880 pounds) of near-weapons-grade highly enriched uranium, whose whereabouts are unknown since last month's strikes. Before the talks, an Iranian foreign ministry spokesperson had said Tehran considered talk of extending U.N. Security Council Resolution 2231 to be "meaningless and baseless". IAEA head Rafael Grossi said he was optimistic that nuclear inspection visits might be able to restart this year and that it was important to discuss the technical details now. "We need to agree on where to go, how to do it. We need to listen to Iran in terms of what they consider should be the precautions to be taken," he told reporters in Singapore. The United States held five rounds of talks with Iran prior to its airstrikes in June, which U.S. President Donald Trump said had "obliterated" a programme that Washington and its ally Israel say is aimed at acquiring a nuclear bomb. However, NBC News has cited current and former U.S. officials as saying a subsequent U.S. assessment found that while the strikes destroyed most of one of three targeted nuclear sites, the other two were not as badly damaged. Iran denies seeking a nuclear weapon and says its nuclear programme is meant solely for civilian purposes. © (c) Copyright Thomson Reuters 2025.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store