Nippon Steel to buy up to 20 pct of Topy Industries

Newswire

TOKYO, Sept 30 (Reuters) - Japan's Nippon Steel Corp said on Tuesday it will raise its stake in electric furnace steel manufacturer Topy Industries Ltd to up to 20 percent from 7.5 percent currently. Nippon Steel will increase its stake to over 15 percent by buying new shares issued by Topy and acquire the rest through the market, the two companies said. (Reporting by Taiga Uranaka)

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