Nippon Steel Metal Products Co., Ltd. reached an agreement to acquire 65% stake in Kobelco Engineered Construction Materials Co.,Ltd. from Kobe Steel, Ltd. (TSE:5406), Shinsho Corporation (TSE:8075) and others on March 4, 2020. The transaction is subject to customary closing conditions and is subject to the approval of domestic and foreign competition authorities. The transaction is expected to close by April 1, 2021.

The transaction is expected to complete on November 1, 2021.