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April 27, 2024
 

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NIPPON STEEL

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.
The United States Steel Clairton Coke Works in Clairton, Pennsylvania, in December
BUSINESS / Companies
Feb 4, 2024
American steel buyers hail Nippon deal that scares Washington
Both Democratic Senators from U.S. Steel’s home state of Pennsylvania want the deal killed, citing fears that union jobs would be impacted.
Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally ahead of the Republican caucus in Las Vegas on Saturday.
BUSINESS / Companies
Feb 1, 2024
Trump says he'd block Nippon-U.S. Steel deal, dubbing it 'terrible'
The former U.S. president aims to win over blue-collar union voters who could play a key role in states like Pennsylvania, where U.S. Steel is based.
U.S. National Economic Council Director Lael Brainard said President Joe Biden "continues to believe very strongly that steel is an important industry, a backbone of the transition we are driving in the economy.”
BUSINESS / Companies
Jan 27, 2024
Biden aides signal importance of union jobs in Nippon Steel review
Top economic aides for President Joe Biden said he aims to preserve union jobs and domestic manufacturing in the U.S. steel sector.
Nippon Steel's plant in Kamisu, Ibaraki Prefecture. The firm submitted a cash offer to acquire U.S. Steel for $55 a share on Dec. 16.
BUSINESS / Companies
Jan 25, 2024
Sweetened offer in final hours clinched U.S. steel deal for Nippon
Nippon Steel executives submitted a sweetened cash offer to acquire the Pittsburgh-based company for $55 (¥8,120) a share on Dec. 16.
New JAL chief concerned about yen’s ‘excessive’ weakness
Mitsuko Tottori became Japan Airlines’ first female CEO on April 1, having risen through the ranks as a flight attendant and heading the flight attendant and customer experience divisions.
Town to block view of Mount Fuji in response to overtourism
The town government of Fujikawaguchiko, Yamanashi Prefecture, decided to set up a 2.5-meter-high screen to prevent tourists from taking pictures of Mount Fuji looming behind a convenience store.
Yen inches closer to intervention point as BOJ meeting starts
The rate of the yen against the U.S. dollar is displayed in the trading room at foreign exchange brokerage Gaitame.com in Tokyo on Thursday.
Princess Aiko makes debut at imperial garden party
Princess Aiko attends an imperial garden party in Tokyo on Tuesday.
'So hot you can't breathe': Extreme heat hits the Philippines
A pedestrian cools himself with a folding hand fan as he waits for a ride along a road in Manila on Wednesday, as extreme heat hit the Philippines.
Tokyo's Koto Ward by-election a race unlike any other
Natsumi Sakai, the Constitutional Democratic Party of Japan’s candidate and one of four female candidates running in the by-election, touts her experience as a cancer survivor and midwife as having prepared her to tackle issues that women currently face.
Kyotographie's strong 12th edition shines light into the margins
Yassine Alaoui Ismaili, who goes by Yoriyas, turned to photography, shooting motion while in motion himself, after an injury forced him to give up his career as a professional breakdancer.
For amateur sumo, a fresh start offers hope against time-wasting and gamesmanship
Wrestlers prepare for the start of a bout at the 2023 Sumo World Championships in Tokyo. Starting this month, placing one hand on the clay first is no longer allowed.
LDP veteran Nikai's youngest son expected to succeed him in Wakayama
Toshihiro Nikai, former secretary-general of the Liberal Democratic Party, announced in March that he would not run in the next Lower House election to take responsibility for the political funds scandal that rocked his party and his own faction.
New workers name Shohei Ohtani as 'dream boss' for two years running
Shohei Ohtani has been overwhelmingly voted as the “dream boss” for people who started working in April, according to a survey.

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