earticle

영어

This thesis attempts to analyze the Japan’s restructuring of the iron and steel industry which gave birth of Nippon Steel Corporation(1970) in response to the internationalization during the late 1960s, emphasizing market initiatives over government leadership. As it was exposed to internationalization in a state of its over-heated competition and small size, the Fuji steel company posed an initiative of M&A to make an end of it with the support of several steel companies and sub-government more than government. The government just showed a collaborative attitude towards him as a member of sub-government, since the denial of M&A by the Fair Trade Committee (FTC). However, he did not resort to the government measure because the market consensus has been powerful enough for him to push an initiative against the FTC. It proves that the government role has been changed due to the impact of internationalization. Taking it into much consideration, market initiatives must be taken more important than government leadership in analyzing the restructuring of Japan’s iron and steel industry.