Japan’s steelmaker Nippon Steel announced last month it would offer around 70.5 billion yen to fully acquire the domestic specialty steelmaker Sanyo Special Steel and planned to make it a fully owned subsidiary.

Nippon Steel also said that it expected the specialty steel demand in Japan may decline due to the overcapacity from China and more exports. Besides, it also saw the future rising demand in other overseas markets including North America and India. 

The acquisition of the steelmaker could help Nippon Steel's share in the global demand for specialty steel. It believed this plan would help itself to remain competitive.