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November 22, 2024
 

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NIPPON STEEL

Nippon Steel has responded to the U.S. government concerns by saying it will invest billions of dollars to maintain and boost U.S. Steel facilities that otherwise would have been idled, "indisputably" allowing it to "maintain and potentially increase domestic steelmaking capacity in the United States."
BUSINESS / Companies
Sep 6, 2024
U.S. fears Nippon Steel's bid for U.S. Steel could hit vital steel supply
The U.S. government is concerned that U.S. Steel would be less likely to seek tariffs on foreign steel importers if it is under the ownership of the Japanese steelmaker.
Nippon Steel's proposed acquisition of U.S. Steel is opposed by politicians across the political spectrum, including both Republican and Democratic presidential candidates — Vice President Kamala Harris and former President Donald Trump.
BUSINESS / Companies
Sep 5, 2024
Japan miffed but reaction muted after shocking twist to U.S. Steel deal
U.S. President Joe Biden is set to reject Nippon Steel's acquisition of the American steelmaker, according to multiple unconfirmed reports released in recent days.
U.S. Steel's Edgar Thomson Works steel mill in Braddock, Pennsylvania
BUSINESS / Companies
Sep 4, 2024
U.S. Steel to remain American-led, Nippon Steel says
The Japanese firm said post-acquisition the majority of U.S. Steel's board of directors and all members of core senior management would be U.S. citizens.
Nippon Steel headquarters in Tokyo. Nippon Steel said last month that it would make an additional investment of about $1.3 billion in U.S. Steel following the takeover.
BUSINESS / Companies
Sep 3, 2024
Nippon Steel defends its U.S. Steel bid after Harris' opposition
Nippon Steel released a statement Tuesday arguing that the Japanese firm's planned acquisition of U.S. Steel would benefit the United States.
U.S. Vice President Kamala Harris, the Democratic presidential nominee, speaks during a campaign event she attended with U.S. President Joe Biden at IBEW Local Union 5 in Pittsburgh on Monday.
BUSINESS
Sep 3, 2024
Harris says U.S. Steel should remain American owned and run
It’s not clear whether a decision on the takeover will land on U.S. President Joe Biden’s desk or that of his successor — or even if it will proceed at all.
Nippon Steel Vice Chairman Takahiro Mori
BUSINESS / Companies
Aug 30, 2024
Nippon Steel, peers urge Tokyo to curb steel imports from China
China's steel exports rose 24% to 53.4 million tons in the first half of 2024, on track for 100 million tons for the year.
A train carrying steel slabs leaves the U.S. Steel Edgar Thomson Works steel mill in Braddock, Pennsylvania.
BUSINESS / Companies
Aug 29, 2024
Nippon Steel woos U.S. union with extra $1.3 billion investment
The United Steelworkers union has so far opposed a corporate tie-up with U.S. Steel.
Nippon Steel Vice Chairman Takahiro Mori holds a news conference in Tokyo on Thursday.
BUSINESS / Companies
Aug 4, 2024
Nippon Steel raises full-year profit forecast, confident on U.S. Steel deal
Net profit in April-June, its first quarter, fell 11% from a year earlier to ¥157.6 billion, but exceeded analyst expectations of ¥108.7 billion as per LSEG data.
Nippon Steel is dissolving its joint venture with China's Baoshan Iron & Steel, ending two decades of cooperation.
BUSINESS / Companies
Jul 23, 2024
Nippon Steel to dissolve joint venture with China's Baoshan
Nippon Steel did not provide a reason for dissolving the partnership originally established in 2004.
Former U.S. Secretary of State Mike Pompeo speaks during the last day of the 2024 Republican National Convention on Thursday in Milwaukee, Wisconsin.
BUSINESS / Companies
Jul 20, 2024
Nippon Steel hires Mike Pompeo to help clinch purchase of U.S. Steel
Pompeo, who served as the U.S.’ top diplomat under Donald Trump, will be an adviser to the Japanese company for its $14.1 billion purchase.
Glen Fukushima, former deputy assistant to the U.S. Trade Representative for Japan and China, is interviewed in New York last week.
BUSINESS / Companies
Jun 11, 2024
U.S. Steel buyout may be approved if Biden reelected, former U.S. official says
Pennsylvania, where U.S. Steel's headquarters is located, is regarded as one of the swing states that will decide the outcome of the U.S. presidential election.
Takahiro Mori, the key negotiator for the U.S. Steel deal, is attempting to close the deal amid growing regulatory scrutiny and political opposition.
BUSINESS
Jun 8, 2024
Nippon Steel executive sees positive reaction from U.S. Steel workers
Takahiro Mori, the key negotiator for the U.S. Steel deal, is attempting to close the deal amid growing regulatory scrutiny and political opposition.
Nippon Steel's proposed acquisition of U.S. Steel would give it greater access to the profitable U.S. market and further its long-term financial goals.
BUSINESS / Companies
Jun 3, 2024
Nippon Steel's Mori hints at selling some assets to aid U.S. Steel deal
The firm's vice chairman plans to return to the United States this week for more talks over the proposed acquisition.
Nippon Steel, Japan’s top steelmaker, is sending Vice Chairman and Executive Vice President Takahiro Mori to Pittsburgh next week where he’ll meet with local staff and elected officials.
BUSINESS / Companies
May 18, 2024
Nippon Steel boosts efforts to woo U.S. Steel workers and politicians
Japan’s top steelmaker is sending Vice Chairman and Executive Vice President Takahiro Mori to Pittsburgh, where he’ll meet with local staff and elected officials.
Police believe it’s highly possible that human bones found in a molten iron pot at Nippon Steel's Oita factory belong to a missing male employee.
JAPAN
May 15, 2024
Human bone-like objects found at Nippon Steel plant’s molten iron pot, with one worker missing
The police said it’s highly possible that the bones belong to an employee who had been reported missing, and are currently conducting DNA tests.
The United States Steel's plant in Braddock, Pennsylvania. Nippon Steel is sticking to its plan to close a deal by year-end to buy U.S. Steel.
BUSINESS / Companies
May 9, 2024
Japan's Nippon Steel sticks to plan to close U.S. Steel deal by year-end
The takeover should bring Nippon Steel's global crude steel capacity to 86 million tons per year, close to its goal of 100 million.
U.S. President Joe Biden speaks at the United Steelworkers Union headquarters in Pittsburgh, Pennsylvania, on April 17. Biden made clear that he does not want the proposed takeover of U.S. Steel by Japan’s Nippon Steel to happen.
BUSINESS / Companies
May 4, 2024
Political furor over Nippon Steel's U.S. Steel bid puts investment panel in spotlight
Backlash over the deal has echoes of the 1980s when Nippon Steel tried and failed to buy another American metal company.
The U.S. Steel plant in Clairton, Pennsylvania
BUSINESS / Companies
May 3, 2024
Nippon Steel pushes back U.S. Steel acquisition until December
Nippon Steel has delayed acquiring United States Steel as the United Steelworkers union opposes the plan, along with U.S. President Joe Biden.
U.S. Steel said that over 98% of the votes were in favor of the deal under which Nippon will pay $55 per share, an amount that represented a hefty premium when the takeover was announced in December.
BUSINESS / Companies
Apr 13, 2024
U.S. Steel shareholders approve $14.9 billion buyout by Nippon Steel
The move takes the merger one step closer to completion even as political opposition to the deal mounts.
U.S. Steel's Edgar Thomson steel mill in Braddock, Pennsylvania
BUSINESS / Companies
Apr 11, 2024
How the U.S. Steel takeover became about Biden and swing states
The turmoil threatens to strain U.S. relations with Japan while underscoring how the politics of winning swing-state voters influences business.
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Ishiba aggravates his own political failures with diplomatic faux pas
Prime Minster Shigeru Ishiba is greeted at the APEC summit in Lima by Canadian Prime Minister Justin Trudeau on Friday. The Japanese leader was criticized for remaining seated while meeting several world leaders at the event.
Japan's 3.31 million visitors in October set monthly record
Kiyomizu Temple in Kyoto in December 2023. Famous autumn leaf colors contributed to increased tourism demand last month from many markets across Asia, Europe and North America, the Japan National Tourism Organization has said.
Japan ranks last in romance satisfaction for second straight year
In a survey of 31 countries, Japan ranked last in terms of those who felt loved, with just 51% of respondents saying so.
Ruling coalition and DPP strike last-minute deal over economic policy
DPP policy chief Makoto Mahaguchi speaks at the party's policy gathering in Tokyo on Wednesday.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
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For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.
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Though he didn't win the recent gubernatorial election in Tokyo, the 96-year-old Dr. Nakamats' run was seen as inspirational in Japan's aging society.

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