It is reported that Nippon Steel Corporation is poised to reduce part of its executive compensation while executing temporary shutdowns of its production facilities at specified intervals in view of the current tough situation for Japan's steel industry.

All members with the board of directors are supposed to return 16% each of the compensation paid in the April to June quarter.

Also, equipment shutdowns from April are scheduled for Muroran Works, Kamaishi Works, Sakai Works, Tokyo Works, and pipe mills at Hikari Works.

(Sourced from www.texreport.co.jp)