Yamato Kogyo, Japanese major H-beam maker, makes YK Steel Corporation, which is Yamato Kogyo’s subsidiary in South Korea, a wholly owned affiliate by acquisition of all YK Steel’s stock. YK Steel’s board members agreed in the acquisition at the meeting held on 28 December. Yamato Kogyo will hold 100% shares in YK Steel while 60% at present. YK Steel will acquire its own stocks in January and extinguish in March. Yamato Kogyo aims to speed up and streamline the management of YK Steel for better group management and corporate value.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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