INTERVIEW: Nippon Steel Aims to Be World No. 1 in Market Value

Economy

Tokyo, April 1 (Jiji Press)--Nippon Steel Corp. <5401>, formerly known as Nippon Steel & Sumitomo Metal Corp., aims to become the world's largest in terms of market value, its new president said in a recent interview.

Eiji Hashimoto said he will make the company "powerful enough to become the world's No. 1 in market capitalization and sustain the status."

"The biggest challenge is to recover the firm's profitability, which forms the basis for winning global competition," Hashimoto said. He cited stabilizing production and bolstering product development capability as examples of priorities.

Hashimoto assumed the post on Monday, when the Japanese steelmaker changed its name.

Nippon Steel plans to utilize overseas firms that it has so far acquired to pursue growth in Asia, he said.

[Copyright The Jiji Press, Ltd.]

Jiji Press