Abstract
After the Plaza Agreement of G5, which was held in September 1985, the Yen was highly appreciated, and the Japanese government changed its policy from the encouragement of exports to the expansion of the domestic market. Fortunately, the government policy has been a success, and the production of hot and cold strip, large wide flange beam, wire and rod has recovered. Investment for equipment is under way and there are plans for renewing mills. However, the steel tube mills are highly dependent on the foreign market, the production of steel tube was drastically cut due to the sharp drop of the dollar and sharp rise of the yen. Nevertheless, research and development has been actively promoted and many marvelous results have been reported in every field. Iron and steel industries in Japan are still confident and innovative.
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