Nippon Steel focuses on high-end steel sales
Japanese steelmaker Nippon Steel Corporation expects its profit to increase in 2006 due to the rising sales of high-end steel to Toyota Motor Corporation.
The company plans to lower its output by a million tons in the fiscal year ending March, but aims to focus on high-end steel sales to support profit.
Furthermore,
Japan's industrial output rebounded in August, spurring demand for steel, while household spending climbed for the first time in the last four months, indicating that the economy will expand in the fourth quarter.