Japanese steelmakers Nippon Steel Corporation and Sumitomo Metal Industries, Ltd have announced that they have obtained approval at their respective annual shareholders' meetings held on Tuesday, June 26, regarding the merger agreement executed on April 27, 2012.
The merged company Nippon Steel & Sumitomo Metal Corporation will be formed on October 1, 2012, as initially planned.
According to the joint statement, the medium-term management goals and major implementation measures and policies of the integrated company will be announced promptly after the business integration.