TWO JAPANESE STEELMAKERS TO CUT CAPITAL SPENDING
Nippon Steel Corp <NSTC.TOK> said it will
cut its capital spending by 36.4 pct to 105 billion yen in the
year starting April 1 from a year earlier due to the
postponement of furnace improvements.
    <Nisshin Steel Co Ltd> said it will spend 10.7 billion yen
in 1987/88 for rationalisation and facility improvements, down
from 32.1 billion a year earlier, after completion of large
construction projects in 1986/87.
    But capital spending by Nippon Kokan K.K. <NKKT.TOK> to
improve and increase its production facilities will rise to
94.90 billion yen from 64 billion, the company said.
 REUTER
