Japanese steelmaker Kobe Steel Ltd. has announced that its board of directors has decided to acquire additional shares in its equity-method affiliate Kansai Coke & Chemicals Co., Ltd., turning it into a consolidated subsidiary. The company currently holds 24 percent of shares of Kansai Coke & Chemicals.
With the consolidation of Kansai Coke & Chemicals, Kobe Steel will incorporate coke and fuel gas production, which are essential to its core steelmaking business, into the group and strengthen its integrated steel production system. In addition, there is no impact on the company's carbon emissions as a result of Kansai Coke & Chemicals becoming a consolidated subsidiary because the company had already included the emissions of Kansai Coke & Chemicals in its carbon emissions calculation prior to the consolidation.
