Japan-based steelmaker Nippon Steel has detailed an ambitious medium- to long-term management plan through 2030, outlining investments of up to JPY 6 trillion ($38.6 billion) aimed at expanding global steel production capacity, strengthening overseas operations and advancing decarbonization technologies. The plan is designed to address structural changes in the global steel market, including slowing domestic demand in Japan, persistent global overcapacity and intensifying trade pressures, while positioning the group for long-term growth.
Focus on capacity expansion and overseas growth
A central pillar of the strategy is the expansion of steelmaking capacity outside Japan. Nippon Steel plans to prioritize investments in overseas markets with structural demand growth, including the US, India and Southeast Asia, while reinforcing its global production footprint.
The company targets global crude steel capacity of around 100 million mt by 2030, supported by large-scale capital expenditure and strategic overseas projects. Investments will focus on high-value steel products, operational efficiency and the integration of advanced technologies across international facilities.
Decarbonization and technology development
The investment plan also places strong emphasis on decarbonization and environmental performance. Nippon Steel intends to allocate significant capital to low-carbon steelmaking technologies, including hydrogen-based processes, increased use of electric arc furnaces and energy-efficient production systems.
These initiatives are aligned with Japan’s national climate targets and growing customer demand for lower-emission steel products, particularly in automotive, infrastructure and energy-related applications.
Strategic response to global market challenges
Nippon Steel’s 2030 plan comes at a time when the global steel industry is facing heightened uncertainty, driven by Chinese overcapacity, rising protectionism and volatile demand. By combining overseas expansion, technological leadership and decarbonization, the group aims to enhance competitiveness and secure sustainable growth over the long term.
The company said it will continue to review market conditions and adjust its investment pace as needed while pursuing its long-term strategic objectives.