Japanese steelmaker Nippon Steel has announced that it will sell all of its shares in fellow Japanese steelmaker Kobe Steel in order to improve its asset efficiency.
Accordingly, the company pointed out that its cooperation with Kobe Steel will be maintained. In the meantime, it will determine the timing of the sale based on several factors such as market trends. Kobe Steel will sell its shares in Nippon Steel as well.
The impact of the decision on Nippon Steel’s results for the current financial year ending March 2025 is unspecified.
