TOKYO – Japan’s top steelmaker Nippon Steel Corp is seeking more merger and acquisition (M&A) opportunities to boost its global output capacity to 100 million tonnes, an executive said on Thursday, after its recent decision to buy two Thai steelmakers.
Overseas steel markets are expected to recover after China’s Lunar New Year holiday and the Beijing Winter Olympics to reflect the higher prices of raw materials and an expected economic stimulus by Chinese government, Nippon Steel Executive Vice President Takahiro Mori told an earnings news conference.
(Reporting by Yuka Obayashi; Editing by Christian Schmollinger)