Trump Approves Nippon Steel's Acquisition of US Steel

WASHINGTON DC, Jun 14 (News On Japan) - Nippon Steel has announced that former President Trump has approved its planned acquisition of US Steel. On June 13th, Nippon Steel stated that Trump had given his approval to the "partnership" with US Steel. According to Nippon Steel executives, this effectively means Trump has authorized the full acquisition, making US Steel a wholly owned subsidiary.

Nippon Steel and US Steel also revealed that they have concluded a "national security agreement" with the US government to address security concerns. Under the agreement, the US government will hold special shares known as "golden shares," granting it veto power over key management decisions, including the appointment of US Steel's board members.

The agreement includes commitments by Nippon Steel to invest approximately 11 billion dollars, or about 1.6 trillion yen, by 2028, along with provisions covering domestic production and trade arrangements.

Prior to Nippon Steel's announcement, Trump had signed a presidential order revising a previous directive issued by former President Biden in January, which had blocked the acquisition. Trump's order stipulated that approval of the deal would require the conclusion of a national security agreement with the US government.

Source: TBS

Typhoon Makes Landfall in Hokkaido for First Time in Nine Years

Typhoon No. 5 made landfall near Cape Erimo in Hokkaido in the early hours of July 15th, marking the first time in nine years that a typhoon has struck the northernmost of Japan’s main islands.

Japan's Ruling Bloc Faces Tough Battle to Keep Majority

The ruling coalition is facing an increasingly difficult battle to retain its majority in Japan’s House of Councillors, according to a mid-campaign opinion poll by FNN ahead of the July 20th election. Meanwhile, the minor party Sanseitō is showing strong momentum and could see a significant boost in its number of seats.

Man Killed by Bear Attack While Delivering Newspapers in Hokkaido

A 52-year-old newspaper deliveryman was killed in the early hours of July 12th after being attacked by a bear in a residential area of Fukushima Town, Hokkaido.

Illegal Outdoor Bathing Spot in Niseko Forced to Close

A hot spring inn in the popular resort area of Niseko, Hokkaido, has been forced to suspend operations at one of its baths after an unauthorized open-air bath was found to have been built near its hot spring source.

Hermes Birkin Breaks Record as Japanese Collector Pays 1.47 Billion Yen

A first-generation Hermes Birkin bag has been sold at a Paris auction for approximately 1.47 billion yen, marking the highest price ever paid for a handbag. The winning bidder was a Japanese collector, and the sale was held by Sotheby’s.

MEDIA CHANNELS

MORE Business NEWS

Long-Term Interest Rate Hits 1.595 Percent, Highest Since Lehman Shock

A key gauge of long-term interest rates temporarily rose to 1.595 percent, marking the highest level in nearly 17 years since the aftermath of the Lehman Brothers collapse.

Japan’s Largest Farming Corporation Unveils Strategy to Compete in Asia

A major farming corporation based in eastern Japan, Butai Farm, known for using robotics to grow lettuce and supplying pre-cut vegetables to 7-Eleven stores, has announced a new strategy to promote agriculture that can compete in Asian markets.

Business Leaders in Japan Call for Pay Raises to Tackle Inflation

A recent survey by the Japan Association of Corporate Executives (Keizai Doyukai) has revealed that business leaders view wage hikes as the most effective policy response to rising prices, ahead of the July House of Councillors election. The findings reflect growing concern among corporate executives about the impact of inflation outpacing wage growth, and highlight a preference for structural solutions over short-term subsidies.

Mid Year Review: Best Flexi Funds of 2025 So Far

We are already halfway through 2025. Are you still figuring out how to invest smartly and balance the risk-reward equation in your portfolio?

Suzuki Unveils First EV Developed in Japan and Built in India

Suzuki has announced plans to release its first-ever electric vehicle, the e-Vitara, in Japan within the current fiscal year. The model will also be introduced in Europe and India.

Hermes Birkin Breaks Record as Japanese Collector Pays 1.47 Billion Yen

Rakuten Sues Government over Ban on Furusato Tax Points

Rakuten Group has filed a lawsuit against the Japanese government, claiming that the Ministry of Internal Affairs and Communications' decision to effectively ban reward points from the furusato nozei (hometown tax donation program) starting in October is unlawful.

Nissan Delays Production of Two EV Models in the U.S.

Nissan Motor, which has been grappling with sluggish business performance, is set to delay the production of two electric vehicle models it had planned to launch in the United States. The affected models are sport utility vehicles originally scheduled to be produced at the company’s Mississippi plant starting in 2028. The company did not disclose a new timeline for the start of production.

< 2 3 4 5 >