Nippon Steel & Sumitomo Metal Corporation ("NSSMC") aims to become "the Best Steelmaker in the World" at an early stage after the establishment by strongly advancing the following four initiatives.
By promoting the initiatives below, NSSMC will respond to change in the management environment and will secure "world top-level profitability" at any time, and will aim to increase its corporate value and to improve the evaluation by shareholders and capital markets.
Please refer to our MID-TERM MANAGEMENT PLAN released on March 13, 2013.
Globalizing the steel business
Worldwide demand for steel is increasing. NSSMC will strengthen its capability to provide solutions to customers worldwide and expand overseas manufacturing and processing bases, particularly in the growing sectors such as automotive, environment and resources/energy sectors. NSSMC aims to achieve global production capacity of 60 to 70 million metric tons.
Enhancing our technological superiority
NSSMC will further improve its world-leading technologies by consolidating technological strengths of Nippon Steel and Sumitomo Metal. There is still a huge frontier of potential for steel to perform better as a physical element. NSSMC will lead the world in product development with a focus on growing sectors, development of manufacturing technology including innovative production processes, with the goal of "maximizing the potential of steel as material."
Improving cost competitiveness
NSSMC aims to realize synergies of around 150 billion yen per year approximately three years after the establishment. NSSMC will endeavour to increase the above target synergies amount and to achieve the synergies at an early stage. In addition, NSSMC will continue to make further efforts to reduce costs to increase a competitive edge which enables itself to contend more effectively in the global market.
Reinforcing non-steel business segments
Each business segment of the engineering, chemicals, new materials and system solutions will seek greater synergies between the steel business, thus contributing to improvement in the consolidated profits of NSSMC.