Nippon Steel Corporation has announced plans to sell its stake in POSCO Holdings Inc., comprising 2.89 million shares. This move, aimed at improving asset efficiency, follows the renewal of a long-standing strategic alliance between the two steelmakers. The partnership, originally established in 2000 and renewed in 2023, focuses on addressing key industry issues, including carbon neutrality and technology exchange.
While Nippon Steel plans to sell its shares in POSCO, the company emphasized that the alliance remains intact. The sale will be executed when market conditions are favorable, but the specific timing has not yet been determined. The impact of this transaction on Nippon Steel’s financial results for the year ending March 2025 is still unclear, although it is expected to have no effect on its consolidated IFRS-based financials.
Despite the sale, Nippon Steel intends to continue working closely with POSCO on joint initiatives, ensuring that their collaborative efforts in steel slab supply and other areas continue to bear fruit in the coming years.
