In an announcement Thursday, the steelmaker said Hashimoto, 63, will succeed Kosei Shindo as president, effective 1 April. Shindo will become the company’s chairman. 

During a press conference Thursday, Hashimoto expressed a desire to grow the company into the world’s No. 1 steel producer, according to Japanese news agency Kyodo News. Hashimoto said it’s a feasible goal, considering the company’s wide range of products, skilled workforce and its global network, the news service reported. 

“There is a fair chance that we can become the world’s No. 1 comprehensive steelmaker,” he said. 

Nippon Steel is currently the world’s third-largest producer, behind ArcelorMittal and China Baowu Group. It produced 47.4 million metric tons of steel in 2017; ArcelorMittal made 97 million metric tons, according to World Steel Association data.