Nakayama Steel Works and Nippon Steel form NN Steel joint venture

Nakayama Steel Works has formally signed a joint venture agreement with Nippon Steel Corporation to establish NN Steel LLC. The new entity, scheduled for March 2026, will be 51% owned by Nakayama Steel Works and 49% by Nippon Steel, with a total investment of approximately JPY 95 billion (maximum JPY 105.5 billion). NN Steel LLC will own and lease new electric arc furnace facilities and buildings to Nakayama Steel Works at its Funamachi Plant in Osaka, aiming to secure a stable supply of electric arc furnace products with reduced CO2 emissions.

The joint venture is a key step in Nakayama Steel Works' long-term plan, first disclosed on May 9, 2025, to enhance steel slab production and achieve specific KPIs by 2033. The new facilities are projected to begin construction in November 2026 and commence operations from 2030 onwards. This initiative is expected to strengthen Nakayama Steel Works' competitiveness by reducing manufacturing CO2 emissions, expanding resource recycling, and meeting the growing demand for electric arc furnace products.