Latest news with #EijiHashimoto
Asahi Shimbun
11-07-2025
- Business
- Asahi Shimbun
Nippon Steel plans new U.S. mill to compete against Chinese
Eiji Hashimoto, chairman and chief executive officer of Nippon Steel Corp., speaks during an interview on July 8. (Kotaro Ebara) Nippon Steel Corp. will construct a new mill in the United States through U.S. Steel, its subsidiary, as it seeks to close the gap on global leader China Baowu Steel Group Corp., its chief executive said. 'We cannot allow Chinese rivals to catch up in cutting-edge technologies,' Eiji Hashimoto told The Asahi Shimbun in a recent interview. 'Toward that end, we need to expand production volume.' Japan's top steelmaker, which acquired U.S. Steel for about $14 billion (2 trillion yen) in June, will begin investing in the new U.S. mill by 2028. It will be the company's first new plant after the one it built in Oita Prefecture in 1971. Nippon Steel, which led the world in crude steel output from the 1970s to the 1990s, ranked fourth in 2024 at about 44 million tons. The same year, China Baowu Steel Group produced about 130 million tons, followed by Europe-based ArcelorMittal SA, which generated about 65 million tons. Nippon Steel plans to more than double its crude steel output to at least 100 million tons within 10 years by bolstering operations at U.S. Steel, an Indian joint venture and a manufacturing base in Thailand. In the process, Hashimoto, who is also chairman of the company, said he intends to propel U.S. Steel back to the top of the American steel industry. U.S. Steel, which produced about 14 million tons of crude steel last year, was the third-largest player in the United States. In addition to building the new mill, Nippon Steel plans to enhance capacity utilization at existing plants and implement other measures to raise U.S. Steel's crude steel output to at least 34 million tons in 10 years. Employees who were involved in the construction of Nippon Steel's last plant a half-century ago no longer remain with the company. Hashimoto said engineers and other workers will be sent to the United States and trained for the construction of the new mill. Nippon Steel, meanwhile, is scaling back operations in China, the world's largest steel market. Last summer, the company announced the discontinuation of an automotive steel sheet joint venture with Baoshan Iron and Steel Co., a subsidiary of China Baowu Steel Group. With relations between the United States and China becoming increasingly strained on economic and national security issues, Hashimoto is accelerating a shift toward the United States. 'In business, we lose unless we stand by someone who formulates international rules,' he said. 'When we must choose between the United States and China, it is taken for granted that Japan will side with the United States.'
Yomiuri Shimbun
09-07-2025
- Business
- Yomiuri Shimbun
Nippon Steel Looking to Double Its U.S. Steel Output in 5 Years, Says CEO
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.'
Nikkei Asia
06-07-2025
- Business
- Nikkei Asia
Nippon Steel eyes return to world No. 1 through U.S. Steel purchase: CEO
Eiji Hashimoto said his company "will not allow China to increase its presence" in India. (Photo by Rie Ishii) NAOKI MATSUDA, ARATA SHIGENO and AZUSA KAWAKAMI TOKYO/NEW YORK -- Fresh from its acquisition of U.S. Steel, Nippon Steel aims to boost crude steel output by over 60% to 100 million metric tons in 10 years and reclaim the top spot among global producers, Chairman and CEO Eiji Hashimoto told Nikkei recently. The Japanese company became the world's No. 1 steelmaker in the early 1970s, but relinquished the crown in the 2000s as Chinese rivals gained strength.
Japan Times
02-07-2025
- Automotive
- Japan Times
Nippon Steel aiming to prove value of Japan-U.S. cooperation, chairman says
Nippon Steel Chairman Eiji Hashimoto said in a meeting with Prime Minister Shigeru Ishiba on Wednesday that he wants to prove the value of cooperation between Japanese and U.S. manufacturers through his company's acquisition of United States Steel. "We want to improve the quality of U.S. Steel and prove that cooperation between Japanese and U.S. manufacturers is useful," Hashimoto said at the start of the meeting at the prime minister's office, in which other Nippon Steel executives also attended. He reported to the prime minister that the takeover has been completed, and expressed gratitude for the Japanese government's support over the buyout effort. Ishiba explained that Tokyo is continuing to urge the administration of U.S. President Donald Trump to review its high tariffs, saying that Japan is calling attention to investments rather than tariffs as it advances negotiations with the United States. Nippon Steel's acquisition of U.S. Steel, made possible through a commitment for massive investments, "can be a model case for future Japan-U.S. relations," the prime minister said. "The trend of the government strengthening its involvement in the economy and business will not change," Hashimoto told reporters after the meeting with Ishiba. "I think it will continue." On Trump's dissatisfaction over automobile trade between the two countries, Hashimoto said that "there is too much focus on the competitiveness of Japanese cars in the U.S. market as (the U.S. government) places importance on the manufacturing industry."
02-07-2025
- Business
Nippon Steel Aiming to Prove Value of Japan-U.S. Cooperation: Chm.
News from Japan Economy Jul 2, 2025 16:18 (JST) Tokyo, July 2 (Jiji Press)--Nippon Steel Corp. Chairman Eiji Hashimoto said in a meeting with Prime Minister Shigeru Ishiba on Wednesday that he wants to prove the value of cooperation between Japanese and U.S. manufacturers through his company's acquisition of United States Steel Corp. "We want to improve the quality of U.S. Steel and prove that cooperation between Japanese and U.S. manufacturers is useful," Hashimoto said at the start of the meeting at the prime minister's office, in which other Nippon Steel executives also attended. He reported to the prime minister that the takeover has been completed, and expressed gratitude for the Japanese government's support over the buyout effort. Ishiba explained that Tokyo is continuing to urge the administration of U.S. President Donald Trump to review its high tariffs, saying that Japan is calling attention to investments rather than tariffs as it advances negotiations with the United States. Nippon Steel's acquisition of U.S. Steel, made possible through a commitment for massive investments, "can be a model case for future Japan-U.S. relations," the prime minister said. [Copyright The Jiji Press, Ltd.] Jiji Press
