Nippon Metal and Nisshin Steel deny merger reports

Japanese steelmakers Nisshin Steel Co. and Nippon Metal Industry Co. have both denied that they are considering merging their operations as early as next year.
 
Local Japanese media had reported that the two parties would likely combine their operations as early as 2012. Nisshin Steel is the largest shareholder in Nippon Metal, holding a 5.12 percent stake as of March 31 this year.