Nippon Steel speeds up investments

Nippon Steel speeds up investments

Japan's largest steelmaker Nippon Steel Corporation disclosed that it will invest Yen 850 billion (around $7.2 billion) over the three years to March 2009 in a bid to increase earnings growth. With stepping up investments, Nippon Steel aims to achieve at least Yen 300 billion (around $2.5 billion) profit, Yen 540 billion (around $4.5 billion) operating profit and Yen 4.2 trillion (around $35 billion) sales by March 2009.