Word: yawata
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Last week, encouraged by the government, the two offspring of the old Japan Steel Co. - Yawata Iron & Steel and Fuji Iron & Steel - agreed to get to gether again. Their merger marked a long stride toward the formation of giant companies in all major industries in Japan...
Japan's two biggest steelmakers - Yawata Iron & Steel and Fuji Iron & Steel - are in the process of merging into a colossus that will produce some 22.3 million tons of steel a year and rank second in the world only to U.S. Steel (30.9 million tons). The automaking di vision of Mitsubishi Heavy Industries is being combined with the truck-making Isuzu Motors to form Japan's third largest automaker, after Toyota Motor Co. and Nissan Motor Co. Other mergers are afoot in petrochemicals, electric equipment, heavy machinery, banking and shipbuilding...
Some Japanese businesses say the rush of financially healthy companies toward new partners is the result of a "merger neurosis." Others think that it is not neurotic at all. "The time is ripe for mergers," argues Yawata President Yoshihiro Inayama, 64. "Intensification of international competition makes it imperative for Japanese firms to strengthen their internal structures...
...Yawata Iron and Steel Company's New York office is looking for a top notch Ivy squad to play a championship company team in Tokyo over spring vacation. Captain Quentin B. Spector considers the Tiger game crucial to the club's chances of making the trip...
...industry essential, thus enabling it to progress from a complete halt in production on V-J day to an output of 6,000,000 tons by 1951, when the peace treaty was signed. At the same time, the old government monopoly, Japan Steel & Iron Co., was broken up into Yawata Iron & Steel Co. and Fuji Iron & Steel Co., currently Japan's two largest producers. Encouraged by the authorities, competition flourished; today Japan has 62 steelmakers. But 55% of production is still accounted for by the nation's big four, who are rounded out by Nihon Kokan and Kawasaki...