Nippon Steel Corp

Steel
TYO: 5401
Japan
NSC

According to its Annual Report filed with the SEC for fiscal year 2019: "During the fiscal year ended March 31, 2019, export sales to Iran accounted for ¥1,954 million, or 0.03% of NSC’s total consolidated revenues for the fiscal year ended March 31, 2019. NSC sold steel pipes, tin plate, and steel plate to Iran for civilian use. We cannot exactly calculate the net profits associated with these transactions.

NSC conducted the above transactions in accordance with applicable law, and NSC believes that the above transaction does not subject to U.S. sanctions. Upon the reinstatement of sanctions by the United States in November 2018, NSC ceased these operations, and NSC does not currently intend to resume these transactions so long as sanctions imposed on Iran by the United States are in place."

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Nippon Steel & Sumitomo Metal is now known as Nippon Steel Corp.

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Nippon Steel & Sumitomo Metal Corporation is listed as an attendee for the 2016 2nd Iranian Iron & Steel Conference taking place from September 26-28 in Isfahan, Iran. The event overview states: "There is much to discuss, with sanctions being removed, new projects and investment opportunities planned across Iran and an in-depth look at the central Asian region steel industry" (2nd Iranian Iron & Steel Conference, 2016). 

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"More than 300 companies worldwide, including triple as many from Japan as last year, have gathered here for Iran's biggest trade fair, seeking opportunities for growth in this vast Middle Eastern market poised for relief from Western economic sanctions. Among the 18 Japanese companies exhibiting at this year's event is Nippon Steel & Sumitomo Metal, whose wares include seamless pipe for the oil and gas industry. NEC, which did business with the Iranian telecom sector before the sanctions, had network equipment and other technology on display. Both companies aim to rekindle business in Iran. Others, like Fuji Manufacturing, are hopeful newcomers." (Nikkei Asian Review, “Japan Inc. eager to get back to business in Iran,” 10/7/2015)
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