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Nippon Steel and Sumitomo Metal Corp., the third largest steel producer in the world, changed names on Monday to be called Nippon Steel Corp. to be reborn under an "inclusive" business name in order to further develop their business abroad.
The largest Japanese steelmaker was created by the merger of Nippon Steel Corp. and Sumitomo Metal Industries Ltd. in October 2012.
She resurrected the name Nippon Steel Corp. by "adopting a new, more comprehensive name, worthy of a Japanese steelmaker and focusing on the continued growth of global markets," the company said in announcing the name change last May. Nippon means Japan in Japanese.
Eiji Hashimoto, former executive vice president, badumed the position of president on the same day, replacing Kosei Shindo, who will become president with the rights of representation.
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