The Fair Trade Commission said Thursday it has authorized a plan by NKK Corp. and Kawasaki Steel Corp. to integrate their operations next October under a joint holding company.
The planned integration "would not violate the Antimonopoly Law," the fair trade watchdog said.
The FTC made the announcement after NKK and Kawasaki Steel, Japan's second and third largest steelmakers, had asked it to examine whether the integration of operations would cause any legal problems regarding fair trade.