Nippon Steel, Sumitomo Metals, Kobe Steel to Expand Cross Shareholding

摘要

Nippon Steel, Sumitomo Metal Industries and Kobe Steel announced on Wednesday they expand the cross shareholding for further alliance activity. Nippon Steel and Sumitomo Metals purchase around 100 billion yen of additional share each while Nippon Steel and Kobe Steel and Sumitomo Metals and Kobe Steel purchase additional around 15 billion yen share each. Nippon Steel's interest in Sumitomo Metals increases to 9.4 percent, which represents largest shareholder of Sumitomo Metals topping Sumitomo Corporation.