Nippon Steel head says U.S. Steel deal aids Japan’s economic security

Economy

The Nippon Steel Corp. president said Tuesday the company’s planned $14.1 billion acquisition of United States Steel Corp. is important for Japan’s economic security and expressed confidence the deal will contribute to growth.

“The United States has without doubt taken the worldwide lead in securing its economic security,” Nippon Steel President Eiji Hashimoto said at an online press conference, adding, “We can expect further growth” in the U.S. market as more manufacturers engage in the reshoring of production.

The blockbuster deal announced Monday is the latest instance of a Japanese company...

Kyodo News

Kyodo News