nippon steel & sumitomo metal corporation 1 marunouchi park building headquarters of nippon steel type public traded as tyo 5401 topix 100 component nikkei 225 component industry steel founded 1950 ; 66 years ago 1950 headquarters chiyoda tokyo japan key people akio mimura representative director & president products steel flat steel products long steel products wire products plates chemicals revenue 4.090 trillion 2012 2 operating income 79.36 billion 2012 2 net income 58.47 billion 2012 2 total assets 4.924 trillion 2012 2 total equity 2.347 trillion 2012 2 number of employees 60 508 2012 2 subsidiaries nippon steel engineering nippon steel materials nippon steel chemical website www.nssmc.co.jp nippon steel & sumitomo metal corporation shinnittetsu sumikin kabushiki gaisha tyo 5401 was formed in 2012 with the merger of nippon steel and sumitomo metal . nippon steel was formed in 1970 with the merger of fuji iron & steel and yawata iron & steel . nippon steel & sumitomo metal corporation is the world s 3rd largest steel producer by volume as of 2015 . 3 contents 1 early years 2 major plant locations 2.1 added after sumitomo merger 2.2 joint ventures with arcelormittal 3 troubled times 4 environmental record 5 diversification 6 merger 7 overseas joint venture 8 see also 9 references early years edit nippon steel was created by the merger of two giants yawata iron & steel yawata seitetsu and fuji iron & steel fuji seitetsu . beginning in early 1981 however the company cut production and saw a sharp decline in profit that fiscal year . forced to close furnaces the company exhibited a typical japanese economic aversion to layoffs opting instead to offer standard early retirement enticements but also less conventional schemes such as a mushroom cultivation venture that used the surplus heat created by steel furnaces to temperature control a fecund fungi complex . 4 major plant locations edit muroran hokkaido kamaishi iwate kimitsu chiba tokyo t kai aichi nagoya sakai osaka himeji hyogo hirohata hikari yamaguchi steel piping kitakyushu fukuoka yahata oita oita added after sumitomo merger edit kashima ibaraki j etsu niigata naoetsu amagasaki hy go osaka wakayama kitakyushu fukuoka kokura joint ventures with arcelormittal edit new carlisle indiana usa built 1991 5 am ns calvert . formerly named thyssenkrupp steel usa and located in calvert alabama the facility was purchased from thyssenkrupp through a 50 50 joint partnership with arcelormittal in february 2014 for 1.5 billion and renamed am ns calvert . 6 a greenfield construction project which began in 2007 the facility began operation in 2010 and has a production capacity of 5.3 million tons and includes a hot strip mill cold roll mill and 4 coating lines . products from the facility are marketed in the nafta region through managing partner arcelormittal . 7 troubled times edit attributing the drop to higher material costs the company entered into another troubled year . in 1983 the company reported the end of the fiscal year march 31 would reveal nippon steel was in an even more beleaguered situation . a fall in demand brought about a 39 percent tumble in profits from an already weak previous year . during this time the entire japanese steel industry struggled in a period of turmoil as other nations such as south korea with only a fraction of labor costs won over business . the company announced a loss in 1986 prompting a determined effort to diversify away from the moribund smokestack industrial sector and to provide new work for thousands of employees that would be transferred from closing furnaces . environmental record edit in 2005 the nippon steel corporation made a plan to step up its capacity for recycling waste plastics into coke by 30 % . coke is a main resource in steel production . to manage the load they have invested 4 billion about 38.2 million to install equipment at oita mill and set up a second furnace at kyushu facility . 8 in 2006 nippon steel and mitsubishi heavy industries ltd. mhi jointly created a high tensile strength steel . the first application this steel was used for was the hulls of container ships . this steel allows the ships to be just as strong without the thick steel that it was requiring for them to grow in size . the smaller thickness allows the ships to attain a greater fuel efficiency cutting down on the environmental load of the ships . 9 nippon steel announced a pilot project to process waste food into ethanol in 2006 . they have tasked kitakyushu city with collecting and sorting the food waste and nishihara co. a waste management company with developing new technologies to implement the sorted collecting system . to minimize costs they will use waste heat from an existing incineration facility that had not been effectively utilized and the residue left after ethanol recovery will be burned in this incinerator . 10 diversification edit nippon steel expanded or further established itself in semiconductors electronics a theme park called space world software and even human resources products . the company bucked seven struggling but profitable years when it returned to loss in 1993 . again thousands of employees would be transferred to new operations . due to cost cutting the company returned to health in 1995 . however nippon steel reported earnings in 1999 suffered from an overwhelming charge needed to cover pension costs a problem not uncommon for shrinking industrial giants . 2002 and 2003 would be back to back loss years but robust demand for steel in the people s republic of china returned the company to profitability . however nippon steel had an operating profit for 2002 and 2003 . the losses were made of extraordinary losses because of reevaluation of real estate and securities of the company among others . following a triple merger of sumitomo corporation kinzoku steel corporation sumikin bussan and the existing nippon steel nssc was formed as these company s conglomerate stainless steel division . 11 merger edit in early 2011 nippon steel announced plans to merge with sumitomo metal industries . with nippon steel producing 26.5 million tonnes of steel per year and sumitomo making 11 million tonnes the merged entity would produce close to 37 million tonnes of crude steel per year . this volume of steel output would make nippon steel the second largest steelmaker in the world putting it well ahead of baosteel the current number two making 31 mt steel year although still well behind arcelormittal who produced 77.5 mt crude steel in 2010 . on october 1 2012 nippon steel formally merged with sumitomo metal industries at a ratio of 0.735 nippon steel shares per sumitomo metal share . 12 the merged stock is listed under number 5401 the old nippon steel number as nippon steel & sumitomo metal corp. 13 14 the logistics branches of both companies are announced to be merged on april 1 2013 under the name nippon steel & sumikin logistics co. ltd. wholly owned by nippon steel & sumitomo metal corporation . 15 the merged company plans to publish a common fact book in summer of 2013 . 16 overseas joint venture edit nippon steel trading co. ltd. has set up a joint venture with 3 indonesian local companies to produce 120 000 tons of sheet steel for automotive industry . nippon steel would control a 30 percent share of the joint venture pt indojapan steel center . it is located in the mitra karawang industrial estate west java in a 4.8 hectare area with total investment for first phase 38 million and expected to start operating in january 2013 . 17 see also edit companies portal kashima antlers nippon steel yawata s.c. former company football club based near the yawata plant and originally owned by it before the fuji steel merger references edit top message . retrieved 24 august 2015 . a b c d e f annual results 2011 . bloomberg . retrieved 8 february 2011 . world steel association top steel producing companies 2015 whymant robert . jobs mushroom in idle plant nippon steel of japan goes into mushroom growing business . the guardian . february 19 1985 . arcelormittal and nippon steel corporation announce 240 million expansion at i n kote in new carlisle indiana . bloomberg l.p. 16 april 2008 . retrieved 26 february 2014 . finch ii michael 26 february 2014 . sale of thyssenkrupp steel usa clears all regulatory approval . press register . mobile alabama . retrieved 26 february 2014 . arcelormittal am ns calvert webpage . nippon steel to expand waste plastic recycling capacity nippon creates new steel nippon steel to process food waste for shareholders and investors . nippon steel corporation . http www.japantimes.co.jp text nn20121001a5.html nippon steel & sumitomo eyes more cost cuts as debuts in weak market . reuters . 30 september 2012 . nippon steel & sumitomo metal corp tyo 5401 quotes & news google finance . retrieved 24 august 2015 . https web.archive.org web 20130626064437 http www.reuters.com finance stocks smmlf.pk key developments article 2602624 . archived from the original on june 26 2013 . missing or empty title help fact book . retrieved 24 august 2015 . nippon steel sets up joint venture with local firms . november 4 2011 . wikimedia commons has media related to nippon steel . v t e topix 100 companies of japan core 30 7 & i astellas canon denso fanuc hitachi honda jr central jr east jt kddi mitsubishi corporation mitsubishi estate mitsui & co. mitsui fudosan mizuho mufg murata nissan nomura ntt ntt docomo panasonic shin etsu softbank sony sumitomo mitsui financial takeda tokio marine toyota large 70 on ajinomoto ana asahi breweries asahi kasei bank of yokohama bridgestone chubu electric power dai ichi life daiichi sankyo daikin daito trust construction daiwa house daiwa securities eisai fast retailing fujifilm fuji heavy industries fujitsu hoya inpex isuzu itochu japan airlines jr west jfe jx kao kepco keyence kirin komatsu kubota kyocera marubeni mazda mitsubishi chemical mitsubishi electric 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