Word: yawata
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Dates: during 1970-1979
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...minimize the risk, Premier Sato's government has been urging Japanese businesses to grow stronger by merging. In notable response last week, Japan's two leading steel producers, Yawata and Fuji Iron & Steel, joined forces to become the Nippon Steel Corp. The new company is the world's second largest steel producer, behind U.S. Steel. It is also Japan's largest corporation, with annual sales of $3.1 billion. Together the two companies last year produced 31.5 million tons of crude steel, or 36% of Japan's total. In a period of resurgent Japanese nationalism...
...Yawata-Fuji merger, which markedly strengthens Japan's basic industry, comes at a propitious time. The government will soon inaugurate a new economic plan that calls for an annual growth rate of 10.6% and a doubling of the per capita income to $2,778 by 1975. Since the impossible is commonplace in the Japanese economy, critics are already calling the plan too conservative...