SA News • Aug. 27, 2014
SA News • Jul. 16, 2014
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Aug. 27, 2014, 2:58 PM
- The U.S. will not go ahead with planned import duties on specialized steel from Japan, Germany and Poland after the U.S. International Trade Commission found the imports were not harming local industry.
- The U.S.-based public affairs lobby of the Japanese steel industry welcomes the decision, which came after a complaint lodged by AK Steel (AKS -2.9%) and others.
- The decision affects companies including Nippon Steel & Sumitomo Metal (OTC:NISTF) and Germany's ThyssenKrupp (OTC:TYEKY, OTCPK:TYEKF), which had been named in the dispute.
- Also: X -1.1%, STLD -0.4%, WOR -0.6%.
- ETF: SLX
Jul. 16, 2014, 6:54 AM
- Smoke released from Nippon Steel & Sumitomo Metal's (OTC:NISTF) Nagoya plant has left soot and tar stains on 23k Toyota (NYSE:TM) vehicles parked at shipping yards in central Japan.
- Cleaning each car takes about an hour and Toyota is now seeking damages for the cleaning efforts and financial cost of shipment delays (20k of the vehicles are for export).
- Toyota has not mentioned how much compensation it is seeking, although Nippon Steel & Sumitomo Metal spokesman Masato Suzuki says the company "will respond in a sincere manner."
Mar. 12, 2014, 2:59 AM
- Toyota (TM) has agreed to raise base salaries for its Japanese workers for the first time in six years amid soaring profits at the company, with staff set to receive an average increase of 2.9%.
- Other firms are also increasing wages, including Honda (HMC), Nissan (NSANF), Nippon Steel & Sumitomo Metal (NISTF), retailer Lawson and Daiwa Securities Group (DSEEY).
- The pay increases signal how major companies are paying heed to the government's exhortations to lift wages as part of the battle against deflation.
- Separately, Toyota has issued $1.75B of "green" bonds linked to auto loans that will be used to help finance vehicles that are powered by hybrid or alternative fuel.
- ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, JYN, NKY, DBJP, EZJ, EWV, YCL, JPNL, ITF, JGBL, JPP, JGBT, JPNS, JGBB, HEWJ, FJP
Dec. 1, 2013, 2:35 AM
- ThyssenKrupp (TYEKY, TYEKF) CEO Heinrich Hiesinger expects U.S. antitrust authorities to scrutinize his company's $1.55B sale of its troubled steel mill in Alabama to ArcelorMittal (MT) and Nippon Steel & Sumitomo Metal (NSSMY).
- "Considering the already dominant market position of ArcelorMittal in the U.S. (auto steel) market, it is likely that authorities will take their time to look into this transaction," Hiesinger said.
- ArcelorMittal doesn't expect to encounter problems getting the deal approved even though the company controls almost 40% of the market for North American auto steel.
Nov. 21, 2011, 7:38 PM
Oct. 31, 2011, 8:32 PM
Oct. 17, 2011, 8:11 PMJapanese stocks dip lower in early trading on the back of a weak overnight performance in U.S.and European markets. The Nikkei Average is currently down 1.54% to 8,756.84, with technology exporters leading to the downside: Sony (SNE -3.24%), NEC (NIPNF.PK -2.3%), Toshiba Corp. (TOSYY -2.9%). The selloff in commodities also hit metals shares: JFE Holdings (JFEEF.PK -2.84%) and Nippon Steel (NISTF.PK -2.66%). | 1 Comment
NISTF vs. ETF Alternatives
NIPPON STEEL & SUMITOMO METAL CORPORATION ("NSSMC"), founded through a merger of Nippon Steel Corporation and Sumitomo Metal Industries, Ltd. on October 1st, 2012, is the 2nd largest steel-producing company in the world. NSSMC produces various types of steel products and promotes its global... More
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