Nippon Steel Reports U.S. Steel Acquisition to Japan Minister; Akazawa Hopes to Get Advice Ahead of U.S. Tariff Talks
Nippon Steel Corp. Chairman Eiji Hashimoto spoke with economic revitalization minister Ryosei Akazawa on Monday about United States Steel Corp. becoming a wholly owned subsidiary of Nippon Steel.
'I'd like for you to tell me how I can conduct successful negotiations,' said Akazawa, who is in charge of tariff negotiations with the administration of U.S. President Donald Trump.
Hashimoto said, '[The acquisition agreement] matched the objectives of our company, as we want to develop our business in the United States, and the Trump administration, which wants to revive the U.S. manufacturing industry.'
'It took a year and a half [from when it was first announced], but mutual trust and understanding have deepened,' Hashimoto added. 'I hope this will help Japan-U.S. cooperation.'
With no agreement on tariffs between Japan and the United States in sight, Akazawa said: 'We hope to have the tariff negotiations head in a more positive direction. I would like to ask you to give us some advice regarding negotiations.'
Nippon Steel President Tadashi Imai and Vice Chairman Takahiro Mori were also present at the meeting.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
32 minutes ago
Nippon Steel Shareholders Laud Successful U.S. Steel Acquisition
News from Japan Economy Jun 24, 2025 17:58 (JST) Tokyo, June 24 (Jiji Press)--Nippon Steel Corp. shareholders on Tuesday praised the Japanese steelmaker's successful acquisition of United States Steel Corp. despite initial opposition from the U.S. government, but expressed concerns about the implications of a "golden share" given to Washington. All three company proposals including on personnel appointments were approved at Nippon Steel's shareholders meeting in Tokyo, despite a campaign by an investment fund urging shareholders to oppose the reappointment of President Tadashi Imai and Vice Chairman Takahiro Mori as directors. The fund had taken issue with the company issuing to the U.S. government a golden share in U.S. Steel, giving it veto rights over important management matters, as part of the buyout. A total of 1,257 people attended the meeting, around double the number of last year's meeting participants. Of the questions raised by shareholders in the one-hour, 56-minute meeting, around half were related to U.S. Steel. A participating shareholder in his 60s lauded the company's successful takeover of the U.S. steelmaker, saying that " the penalty for an unsuccessful acquisition would have had a larger negative impact." [Copyright The Jiji Press, Ltd.] Jiji Press
Japan Times
43 minutes ago
- Japan Times
Japan bourse CEO reappointed with slimmer vote as rating falls
Japan Exchange Group chief executive officer Hiromi Yamaji was re-elected with a smaller majority as his approval rating slid to the lowest ever and the bourse operator's shares underperformed the market benchmark. The still-overwhelming majority of 82.11% voted in favor of his reappointment at the annual general meeting held last week, according to a filing on Tuesday. Even so, it was lower than last year's 94.09% and below the 88.88% polled in 2023. Investors voted with their feet as the stock's 18.6% decline over the past year underperformed the broad Topix's 1.6% rise.
Asahi Shimbun
an hour ago
- Asahi Shimbun
Japan doesn't criticize U.S. attack on Iran as it did Israel's
Prime Minister Shigeru Ishiba expressed his "understanding" of the U.S. attack on Iran's nuclear facilities, in sharp contrast to his criticism when Israel launched similar attacks less than 10 days earlier. 'The U.S. response demonstrates its determination to prevent Iran from acquiring nuclear weapons while seeking to calm the situation as soon as possible,' Ishiba said at a news conference on June 23. When Israel attacked Iran's nuclear facilities and other sites on June 13, Ishiba strongly condemned the military action, saying, 'This is totally unacceptable.' As for why the Japanese government's attitude toward the United States contrasts with that of Israel, Chief Cabinet Secretary Yoshimasa Hayashi explained at a news conference on June 23 that the situations differ. 'Even after the exchange of attacks between Israel and Iran began, (the United States) has continued to seek dialogue with Iran,' Hayashi said. Meanwhile, Ishiba on June 23 encouraged the resumption of talks between the United States and Iran to resolve the nuclear issue. 'I strongly urge that the path of dialogue be resumed,' he said. The Japanese government's understanding regarding the U.S. attack on Iran is believed to be in consideration for its major ally and also for the fact that Japan is negotiating tariff reductions with the administration of President Donald Trump. However, Japan's assessment of the attack on Iran has changed dramatically between Israel and the United States and it is unlikely to escape criticism as practicing a 'double standard' diplomacy. When asked if he thought the U.S. attack on Iran was justified under international law, Ishiba said, '(Japan) is not in a position to accurately grasp the details of the facts.' Japan has called for China and Russia to abide by the 'rule of law' amid China's maritime advances in the East China and South China seas and Russia's war against Ukraine. It could similarly condemn the United States for violating international law as well in its attack on Iran. However, a source close to the Foreign Ministry, said, 'The Japan-U.S. relationship would collapse if we said that Japan disapproves of the U.S. actions.' With tariff negotiations continuing, the Japanese side is clearly eager to avoid irking Trump. However, such a response by Japan could be seen as adopting a double standard, changing its attitude on the issue of the norms of international law depending on the country with which it is dealing with. (This article was written by Kei Kobayashi, Azusa Kato and Yoshiyuki Komurata.)
