Keeping future demands in mind,
Nippon Steel Corp. has decided to focus more on markets like the United States and India.
At the same time, it is reducing focus on Japan for the medium term.
The aim, according to a top-level executive of the Japanese steel company, is to capitalize on overseas profit which. At present, uptake in the global automobiles sector is largely driving that profit.
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Nippon looks overseas
News agency Reuters quoted Nippon Steel’s Executive Vice President Katsuhiro Miyamoto as saying they were looking at increasing the production capacity overseas, where demand is expected to go up.