• Kyodo

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Nippon Steel & Sumitomo Metal Corp. said Wednesday it has reached a settlement with major South Korean steel maker Posco and its subsidiaries over damages suits related to the Japanese company’s proprietary steel sheet production technology.

Nippon Steel said it had received ¥30 billion ($250 million) under the settlement the same day, bringing an end to lawsuits filed in Japan, the United States and South Korea.

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