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Chapter 20. Industry-Specific Environment, 1991-2000



Japan's economy faced a serious situation as the result of a recession after 1990 and a strong yen. A slowdown in processing industries with assembly plants (such as the automobile and electric appliance industries) and expanding imports reduced domestic demand for iron and steel (Tables 1 and 2). The steel makers with blast furnaces fell deep into the red in the 1993 accounting year. In order to recover international competitiveness, they carried out further restructuring, which, this time, involved not only producing departments but also the administrative departments of head offices.

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