Advancing the three-region global operating structure through the acquisition of Canada's AltaSteel
First written in FY2020-Q3. 10 of 20 entries say "Advanced", first in FY2021-Q1. Latest entry: FY2026.
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- FY2026AdvancedAnnual report
「During this process, we determined that steel demand in Texas, where the company is located, was particularly strong in the United States and decided in January to expand production capacity beyond the original plan. Accordingly, the investment amount changed to $327 million (approximately ¥50 billion), the start of operations at the steelmaking plant changed to March 2027, and that at the rolling mill changed to September of the same year.」
The investment plan to address aging at Vinton Steel changed to include expanded production capacity. The investment amount is $327 million, with the steelmaking plant targeted to begin operations in March 2027 and the rolling mill in September of the same year. - 2026-04-30AdvancedRevisions to earnings forecasts
「通期では前期に続き赤字を計上しましたが、下期には操業の安定化や製品市況の上昇などにより営業黒字を計上しました。」
北米事業では米国拠点が通期赤字ながら下期に営業黒字となり、カナダ拠点も前期を上回る利益を計上した。 - FY2026-H1AdvancedAnnual report
「The business environment was favorable in both the United States and Canada. At the U.S. site, it is taking time to resolve operating issues caused by aging equipment, but the operating loss narrowed by approximately 40% year on year. At the Canadian site, performance remained solid amid firm construction demand.」
In the North American operations, operating issues at the U.S. site continued, while the operating loss narrowed by approximately 40% year on year. The Canadian site performed well amid firm construction demand. - FY2025-H1Delayed stabilization of U.S. operations after the fire, while Canada remained strongAnnual report
「In North America, the Canadian site continued to perform well on strong construction demand, but performance at the U.S. site remained weak as market conditions softened somewhat and it took time to stabilize operations following the fire.」
In the North American operations, the Canadian site remained strong, while the U.S. site remained weak due to softer market conditions and delays in stabilizing operations after the fire. - FY2024-Q3Deterioration in North American performance due to equipment failures, fires and other factorsAnnual report
「In North America, at the U.S. site, production and shipments of products declined and manufacturing costs increased due to equipment failures associated with aging facilities and a fire in August, among other factors, resulting in a substantial deterioration in performance. At the Canadian site, production and shipments increased in response to strong construction demand, but profit declined year on year due to the lingering effects of scheduled maintenance during the cumulative second-quarter period and higher electricity costs, among other factors.」
At the North American sites in the three-region global operating structure, North American steel operations deteriorated due to equipment failures and a fire at the U.S. site, and scheduled maintenance and higher electricity costs in Canada. - FY2024-Q2RestatedAnnual report
「In North America, performance was weak despite strong construction demand, due to higher costs resulting from scheduled maintenance in the first quarter and equipment problems associated with aging facilities, among other factors.」
In the North American operations, construction demand remained strong, but performance was weak due to higher costs from scheduled maintenance and failures involving aging equipment. The situation from the previous quarter has continued. - FY2024-Q1Weak North American performance due to equipment failures and scheduled maintenanceAnnual report
「In North America, although construction demand was strong, performance remained sluggish due to production cuts caused by equipment problems and the implementation of scheduled maintenance.」
In the North American operations, including AltaSteel, performance was weak due to lower production caused by equipment failures and scheduled maintenance, despite strong construction demand. - FY2023AdvancedAnnual report
「Vinton Steel in the United States recorded its highest-ever profit, while AltaSteel in Canada also recorded profit at almost the same level as its highest-ever profit following the acquisition in the previous fiscal year.」
In the North American operations, Vinton Steel recorded its highest-ever profit, while AltaSteel also recorded profit at almost the same level as its highest-ever post-acquisition profit, indicating progress in the North American earnings base. - FY2023-Q3RestatedAnnual report
「At the North American sites, the economy showed signs of a slight slowdown due to the government's inflation-control measures. However, the business environment remained firm as infrastructure investment, private investment and personal consumption continued to be strong.」
In the North American operations, the business environment has remained firm, supported by infrastructure investment, private investment and personal consumption despite factors slowing the economy. - FY2023-Q2AdvancedAnnual report
「In North America, performance remained firm as shipment volumes and the spread between selling and purchase prices were adequately secured amid strong construction demand.」
In the North American operations, shipment volumes and the spread between selling and purchase prices were secured against the backdrop of strong construction demand, and the post-acquisition North American earnings base remained firm. - FY2023-Q1AdvancedAnnual report
「In North America, performance remained firm as shipment volumes and the spread between selling and purchase prices were adequately secured amid strong construction demand.」
In the North American operations, including Canada's AltaSteel, shipment volumes and the spread between selling and purchase prices were secured against the backdrop of strong construction demand, and the earnings base of the post-acquisition North American operations remained firm. - FY2022AdvancedAnnual report
「At the North American sites, shipment volumes increased substantially in both the United States and Canada amid strong steel demand. Although ferrous scrap prices rose, the pass-through to product prices progressed smoothly and the spread between selling and purchase prices widened. As in Vietnam, the North American sites as a whole recorded their highest-ever full-year profit.」
The North American operations, including AltaSteel, recorded their highest-ever full-year profit as demand, shipments and price pass-through improved. - FY2022-Q3AdvancedAnnual report
「In North America, demand for both long products and mining-related products was strong, and sales and shipments continued to perform well.」
In the North American operations, including AltaSteel, demand for long products and mining-related products was strong, and sales and shipments continued to perform well. - FY2022-Q2AdvancedAnnual report
「In North America as well, steel demand increased substantially as economic activity resumed, and sales and shipments continued to perform well.」
In the North American operations, including AltaSteel, steel demand expanded against the backdrop of the resumption of economic activity, and sales and shipments entered a period of steady performance. - FY2022-Q1North American operations recovered from the second half of the previous fiscal year despite lower profitAnnual report
「In North America, profit declined from the previous year, when the impact of COVID-19 was limited, due to factors including the severe cold wave in Texas in February and scheduled maintenance shutdowns at the Canadian site acquired in March 2020. However, performance began to recover from the difficult second half of the previous fiscal year as steel demand increased with the resumption of economic activity and product market conditions improved.」
The North American operations, including AltaSteel, recorded lower profit year on year due to shutdowns caused by the cold wave and scheduled maintenance, but began recovering from the second half of the previous fiscal year as demand increased and market conditions improved. - FY2021The post-acquisition North American operations turned loss-makingAnnual report
「In North America, both the United States and Canada recorded substantial losses due to the significant impact of the COVID-19 pandemic, particularly sluggish shipments of mining-related products and production stoppages associated with equipment renewal and repairs following equipment failures.」
The North American operations following the AltaSteel acquisition recorded substantial losses in both the United States and Canada due to sluggish shipments of mining-related products and production stoppages caused by equipment renewal and equipment failures. - FY2021-Q3RestatedAnnual report
「In North America, the construction steel market remained relatively firm despite the economic slowdown caused by COVID-19, but demand for mining-related products was weak and difficult conditions persisted.」
In the North American operations following the AltaSteel acquisition, the construction steel market was firm in some areas, while demand for mining-related products remained weak and difficult operating conditions continued. - FY2021-Q2Stagnant shipments from the Canadian operations and weak North American performanceAnnual report
「In North America, product market conditions remained on a downward trend as economic activity stagnated due to the impact of COVID-19. Performance was weak, partly because shipments of mining-related products in Canada remained sluggish.」
The post-acquisition North American operations were affected by declining product market conditions amid the economic slowdown and sluggish shipments of mining-related products in Canada. - FY2021-Q1AdvancedAnnual report
「In Canada, the results of AltaSteel, acquired on 17 March 2020, have been included in the consolidated results from the first quarter of the current fiscal year.」
The acquisition of AltaSteel was completed, and following the acquisition on 17 March 2020, its results began to be included in the consolidated results from the first quarter. - FY2020-Q3First statedAnnual report
「MC AltaSteel, which we had the opportunity to acquire, has developed a solid business in Edmonton, Alberta, Canada, as the only electric-arc-furnace steelmaker in western Canada. Following our review, we determined that the acquisition of the AltaSteel-related assets was consistent with our business strategy and would contribute to the advancement of our three-region global operating structure. Business combination date: 29 February 2020 (planned) Voting rights acquired: 100% Purchase price: C$182 million」
As part of the expansion of our North American operations following the United States, we signed an agreement to acquire all shares of Canada's AltaSteel. The business combination was scheduled for 29 February 2020, with the aim of advancing the three-region global operating structure.