Our cost structure is solid, and demand for high-quality sheet steel is good. We're in the process of breaking out of the industry's usual boom and bust cycle. |
Surging delivery prices of our steel products helped us more than offset the adverse impact of rising procurement costs. |
The supply and demand balance in the high-grade product business continues to be tight. |
The three firms' alliance has been quite fruitful... We've decided to strengthen the partnership so that our interests will not be damaged in the event of a hostile bid emerging for one of us. |
We had originally aimed to complete the latest inventory adjustments for common-grade steel by the end of March, but we now think we need to extend de-stocking efforts in the first quarter (to June). |
We've made a big step, but I don't think this means we can relax our guard. |