In a move to accelerate its restructuring efforts, Sumitomo Metal Industries is considering spinning off two of its iron manufacturing plants into separate companies, company sources said Thursday.

The two are the Kokura Plant in Kitakyushu and the Naoetsu Plant in Joetsu, Niigata Prefecture, both suffering from dwindling earnings.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.