Latest Tokyo Brief coverage on NIPPON STEEL CORPORATION, tracking filings, financial news, and market signals from Japan.
TSE:5401
Five J.P. Morgan entities and asset manager Highbridge Capital Management jointly report a 5.08% stake in Nippon Steel, but most of that position sits in convertible bonds and a securities-lending book, not outright shares.
Nippon Steel raised its full-year net profit forecast to ¥290bn, up nearly a third, as stronger US steel prices and a turnaround at United States Steel outweighed rising raw-material costs and falling Middle East exports at home.
Nippon Yusen wants full control of dry-bulk carrier NS United Kaiun at ¥10,600 a share, a premium of roughly 37%, but the target's board has voted to cancel this year's dividend only if the tender succeeds, and top shareholder Nippon Steel will accept a lower price in a separate second-stage buyback.