Nippon Steel & Sumitomo Metal Corp., the world’s third-biggest steelmaker, changed its name to Nippon Steel Corp. on Monday to start afresh with an “inclusive” trade name as it aims to further expand overseas operations.
Japan’s largest steelmaker was created through the merger of Nippon Steel Corp. and Sumitomo Metal Industries Ltd. in October 2012.
It resuscitated the name Nippon Steel Corp. to “adopt a new and more inclusive trade name befitting a steelmaker with origins in Japan and an emphasis on continuing growth in global markets,” the company said when it announced the name change in May last year. Nippon means Japan in Japanese.
Eiji Hashimoto, formerly executive vice president, assumed the president post the same day, replacing Kosei Shindo, who will become chairman with representative rights.