Interestingly,
Nippon Steel was formed by the merger of two huge companies, Yawata Iron &
Steel and Fuji Iron & Steel in 1970. Shoji rose through the ranks. Among
the capacities he has served
in include Director of Secretary, Managing Director and Vice President. He
became the President of Nippon Steel in April 2008.
Heading
a huge Japanese steel company has been very challenging. While known for
advance technology and innovation it has experienced what companies in the U.S.
has experienced; its cost of production was becoming too expensive against
other steel producing countries like South Korea and China.
From
1970 to 2008 Nippon Steel has ranked one of the top three steel companies in
the world. Things became difficult when demand fell and competition from other
countries started to heat up. By 2009 South Korean POSCO and Chinese mills surpassed
the Nippon Steel and pushed its rank down to number six in the world.
Nippon
Steel began to diversify engaging in such projects as the processing of waste
food into ethanol. Nippon Steel also started to establish itself into the
business of semiconductors, software and electronics. It has even ventured into
theme parks with one called Space World. The steel company also has
subsidiaries like Nippon Steel Engineering, Nippon Steel Materials and Nippon
Steel Chemicals.
A
major event occurred in October 1, 2012 when Nippon Steel and rival Sumitomo
Metal Industries formally merged to produce the second largest steelmaker in
the world. When the dust settled Shoji Muneoka emerged as Chairman and CEO of
the combined entity known as Nippon Steel & Sumitomo Metal Corp.
Shoji
in an address stated that the combined company would take four major initiatives which
are to globalize the steel business; utilize advance technologies; improve cost
competitiveness: and reinforce non-steel business segments.
Having
been in the steel business all his career, Shoji looks to be the right man to
get these huge undertakings started and accomplished.
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