Word: hyuga
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Dates: during 1960-1969
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...heavy rails, tinplate and foundry iron, in which they would otherwise clearly hold a monopolistic position. Significantly, Japan's four other major steel firms showed no real opposition to the merger. "The other steel companies have become strong enough to withstand any kind of competition," explained Hosai Hyuga, president of Sumitomo Metal Industries. Indeed, some competitors are counting on the trend to concentration in steel to help bring an end to the wild price fluctuations that have kept profits at a low 2% to 3% in recent years...
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