Japan Car Industry Welcomes Integration of Nippon Steel and Sumitomo Metals

Mr. Toshiyuki Shiga, chairperson of Japan Automobile Manufactures Association, attended a regular press conference on Tuesday and showed welcome for Nippon Steel and Sumitomo Metal Industries’ entering integration talks when offshore major steel makers are rapidly moving to consolidations such as Arcelor Mittall and Chinese steel makers. Mr. Shiga said the integration could push up Japanese steel makers’ presentation in global market and accelerate overseas activities. AS for Japan Fair Trade Commission, Mr. Shiga commented the commission should not disturb the exertion of steel makers’ competitive power when Japanese manufacturing industry is competing in global market.

Mr. Shiga said domestic car sales seem to hit bottom after close of eco-car subvention. Meanwhile, he showed a concern on underlying trend of strong yen that may lead Japanese manufacturing industry to offshore operations. Mr. Shiga required better exchange policy by Japanese government.