NSSMC to raise its stake in Nisshin Steel to 100%.

Japan's largest integrated mill, Nippon Steel & Sumitomo Metal Corp., raised its shareholding in Nisshin Steel to 100% from 51%, making Nisshin its 100% owned subsidiary from January 1, 2019. The companies have also agreed to transfer Nisshin's stainless flat business, as well as the part of NSSMC'S stainless flat business to Nippon Steel & Sumikin Stainless, a 100% wholly owned subsidiary of NSSMC, to maximize synergy. Nisshin has been a subsidiary of NSSMC since March 2017, and both companies have been collaborating in various areas. But NSSMC decided to raise its stake in Nisshin to 100% to maximize synergy between the two, a NSSMC spokeswoman said.