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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Okamura and Nippon Steel combine to build new steel plant after earthquake

Monday 1 August 2011

Japan’s largest steelmaker, Nippon and Okamura Corp. will jointly invest 2.4 billion yen ($31 million) in a new plant to make steel office furniture after the March earthquake shut the venture’s current facility.
NS Okamura KK, 46 percent owned by Okamura and 45 percent held by Tokyo-based Nippon, aims to start production at the new facility in May next year, the companies said in a statement today. The old plant will be closed permanently, they said.
Output at the existing plant in Kamaishi was halted after the magnitude-9 earthquake hit northeastern Japan. Sales of steel furniture produced at the new facility, to be located about 1 kilometer (0.6 mile) west of the old plant, may reach 2.5 billion yen a year, Akio Migita, general manager of Nippon Steel’s flat-products sales division, said at a media briefing in Tokyo today.
The venture had a loss of about 1 billion yen in the year ended 31 March after the earthquake, Teiichi Toshida, director of Yokohama-based Okamura, said at the briefing.

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