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November 23, 2024
 

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STEEL

JFE's net profit for the year ended March 31 came to ¥197.4 billion ($1.28 billion), just ahead of analysts' average forecast of ¥194.90 billion in an LSEG poll, thanks to higher steel margins.
BUSINESS / Companies
May 7, 2024
Japanese steelmaker JFE eyes overseas investments amid slower profit growth
The country's No. 2 steelmaker plans to ramp up overseas investments as part of a long-term drive to double profits.
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. President Joe Biden speaks at a campaign event at the Scranton Cultural Center in Scranton, Pennsylvania, on Tuesday.
BUSINESS
Apr 17, 2024
Biden seeks higher tariffs on Chinese steel and aluminum
The president was set to reiterate that United States Steel should remain American-owned.
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.
A Wheeling-Nippon Steel facility in in Follansbee, West Virginia. Four senior Japanese officials speaking on condition of anonymity said it is still premature to declare the deal dead.
BUSINESS / Companies / ANALYSIS
Apr 5, 2024
Why Japan is not giving up on fraught U.S. Steel deal
Four senior Japanese officials speaking on condition of anonymity said it is still premature to declare the deal dead.
Akira Amari, a senior Liberal Democratic Party lawmaker, says Nippon Steel’s acquisition of United States Steel would help counter China’s dominance in steel-making.
BUSINESS / Economy
Apr 2, 2024
Japanese lawmaker says U.S. steel deal would help counter China risks
The $14.1 billion deal would be a win-win for both companies and both economies, said former minister Akira Amari.
Tadashi Imai, who became Nippon Steel's new president on Monday
BUSINESS / Companies
Apr 1, 2024
Nippon Steel emphasizes its roots in the U.S. as it pursues deal
The Japanese firm has agreed to buy U.S. Steel for roughly $15 billion but the deal faces an uphill battle to approval in a U.S. election year.
U.S. Steel's Edgar Thomson Works facility is seen in Braddock, Pennsylvania. A group of automakers have warned that a deal by steelmaker Cleveland Cliffs for U.S. Steel could "drive up the cost of both steel and e-steel, and ultimately increase the cost of finished vehicles (including EVs) for American consumers."
BUSINESS / Companies
Mar 30, 2024
Automakers urge White House to oppose U.S. Steel sale to Cleveland-Cliffs
Cleveland-Cliffs has said it would consider another bid for U.S. Steel if the deal with Nippon Steel — opposed by President Joe Biden — falls apart.
Takahiro Mori, Nippon Steel's executive vice president, said the company will move its U.S. headquarters to Pittsburgh if it succeeds in acquiring U.S. Steel.
BUSINESS / Companies
Mar 19, 2024
Nippon Steel pledges to move U.S. HQ to U.S. Steel's Pittsburgh
The Japanese steelmaker will move its existing headquarters in the U.S., which is in Houston, in addition to keeping U.S. Steel's headquarters.
White House National Security Council spokesman John Kirby speaks during a press briefing at the White House in Washington on Friday.
BUSINESS / Companies
Mar 16, 2024
Top Biden official says stance on U.S. Steel deal doesn't hurt U.S.-Japan ties
U.S. National Security Council spokesman John Kirby said Biden's opposition to the U.S. Steel deal "doesn't take away one thing" from the relationship.
A U.S. flag flies near the United States Steel Clairton Coke Works facility in Clairton, Pennsylvania, on Friday.
BUSINESS / Companies
Mar 16, 2024
U.S. Steel says Nippon Steel deal expected to close later this year
The filing with exchanges comes at a time when the Japanese firm's $14.9 billion deal to buy the 122-year-old U.S. steelmaker faces heightened scrutiny.
U.S. President Joe Biden said Thursday that United States Steel should be domestically owned, coming out against Nippon Steel's plan to acquire the company as support from labor unions is becoming more significant for his re-election bid.
BUSINESS / Companies
Mar 15, 2024
Nippon Steel determined to complete U.S. Steel deal
The firm has promised no layoffs or plant closures until at least September 2026.
The Biden administration has regularly sent warnings about Nippon Steel's proposed purchase of U.S. Steel and has steadfastly sided with the United Steelworkers over the sale of a once-iconic firm based in Pennsylvania, a crucial swing state.
BUSINESS / Companies
Mar 14, 2024
Biden to express concern over Nippon Steel's deal for U.S. Steel, source says
U.S. officials and lawyers have drafted a statement of concern and the White House has privately informed Tokyo of Biden's move, according to reports.
Nippon Steel Executive Vice President Takahiro Mori, who is set to meet the United Steelworkers (USW) union chief this month, says the Japanese steel producer plans to uphold all of the current agreements between the union and U.S. Steel.
BUSINESS / Companies
Mar 5, 2024
Nippon Steel exec to meet USW head to seek support for U.S. Steel deal
Winning the union's backing is a priority for the Japanese steel producer because then the acquisition will be "no longer a political issue."
Nippon Steel's Kashima plant seen from a park in Kamisu, Ibaraki Prefecture. Scrutiny over Nippon Steel’s China holdings threatens to add another complication to its politically contentious deal to acquire United States Steel.
BUSINESS / Companies
Feb 23, 2024
Nippon Steel’s China assets could derail United States Steel deal
Regulators may look unfavorably on whether the acquisition of U.S. Steel could allow more access to U.S. markets for Chinese-sourced steel.
While in recent years Donald Trump is better known for his trade war with China, the former president has a long history of Japan-bashing and should be taken at his word on the U.S. Steel purchase by Nippon Steel.
COMMENTARY / Japan
Feb 9, 2024
Trump is wrong to oppose Nippon Steel deal
"I would block it instantaneously. Absolutely,” Trump said of Nippon Steel’s bid, and he should be taken seriously and literally.
Nippon Steel is on track to finalize its planned $15 billion acquisition of U.S. Steel by the end of September, an executive has said.
BUSINESS / Companies
Feb 7, 2024
Nippon Steel says on track to close U.S. Steel deal by September
The deal by the world's No.4 steelmaker to buy U.S. Steel has drawn criticism from some in the United States.
Ukrainian Railway trains at the central railway station of Kyiv on Sunday
JAPAN
Feb 7, 2024
Ukrainian Railways to buy rails from Nippon Steel
Nippon Steel plans to deliver about 15,000 metric tons of rails in summer and 7,500 metric tons next year.
Japan approves ¥21.9 trillion stimulus plan
The policy chiefs of the Democratic Party for the People, Liberal Democratic Party and Komeito — Makoto Hamaguchi (left), Itsunori Onodera (center) and Mitsunari Okamoto — shake hands after reaching an agreement on an economic stimulus package on Wednesday.
Tokyo Metro’s overseas efforts begin in earnest with London deal
Tokyo Metro will soon have a role in the running of London's Elizabeth Line, a major train route serving the U.K.’s capital city and environs.
Saitama court bans demonstrations over anti-Kurd hate speech
Kurdish people in Japan in 2015. A court injunction has banned acts that defame the Japan Kurdish Cultural Association and are disrespectful, such as putting up banner flags or handing out fliers with hate speech like “Refugees should go back to their home countries.”
China reinstates visa-free travel for Japanese nationals
Beijing Daxing International Airport
U.S. aircraft carrier returns to Japan carrying navy’s ‘most capable fighter’
U.S. 7th Fleet Commander Vice Adm. Fred Kacher speaks to reporters shortly after the arrival of aircraft carrier USS George Washington at Yokosuka naval base in Kanagawa Prefecture on Friday.
Shohei Ohtani wins National League MVP award
Shohei Ohtani celebrates after hitting a three-run home run against the Padres during the National League Division Series at Dodger Stadium in Los Angeles last month.
The slow-burn success of ‘A Samurai in Time’
A 19th-century warrior gets struck by lightning and wakes to find himself in 21st-century Kyoto in Junichi Yasuda’s surprise hit “A Samurai in Time.”
Around a quarter of Japan married couples in their 20s met through dating apps
A survey released by an organization promoting “Good Couples Day” shows that 24% of couples in their 20s met their marriage partner through a dating app.
'Tokyo Swindlers': Get deep into the minds of real estate con artists
In Ko Shinjo's "Tokyo Swindlers," a group of con artists manipulates real estate giants into falsified deals within the highly competitive, quick market.
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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