business

Steelmaking giant posts Y124.57 billion net loss

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As someone involved in the Japanese steel industry, the whole experience is just deja vu of the British steel experience in the 1980s.

Developing economies need steel industries, developed economies do not.

The biggest difference between my British Steel experience and the Japanese one, is that British Steel, even in its golden days, was never able to attract the best and brightest engineers from Cambridge. Frighteningly, the brightest and best engineers from Keio, Tohoku and Todai, line up to get lifetime employment in this ailing industry.

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As someone involved in the Japanese steel industry, the whole experience is just deja vu of the British steel experience in the 1980s.

It makes sense to me. But Japanese steel manufacturers are also trying to have specialized products, such as higher electric efficiency, or stronger to reduce construction cost. I am hoping they can revive. It is also true, fast change of currency rate and higher tax rate are disadvantage for any industry those need big investment. So I do not think performance in last few year is fair validation. Let see what is happen next few years. .

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As the cost of raw materials rises along with other mports there is no chance to improve as these increased prices get passed on to exporters as with other materials, compound the wage increase and the perfect storm is coming. I expect Abe and his cronies will be selling umbrellas.

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http://www.ft.com/intl/cms/s/0/876b6382-baf1-11e2-b289-00144feab7de.html#axzz2T76t55Pv

The owner of the world’s biggest steelmaker by sales said the future of EU manufacturing depended on politicians in Brussels helping industry face what he said was unfair competition from China.

It is very important to know that a price dumping is NOT acceptable in global market. These days are gone. Japan needs to continue branding QUALITY products. QUALITY sells. Thanks.

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