Japan Steel announced that it has reached an agreement between the two companies to acquire US Steel, a major American steel manufacturer. The acquisition is expected to amount to approximately 2 trillion yen, making it a major restructuring of the steel industry in Japan and the United States.
According to the announcement, Japan Steel has reached an agreement between the two companies to acquire US Steel, a major American steel manufacturer, and Japan Steel will make US Steel a subsidiary within next year, subject to the general meeting of shareholders of US Steel and the approval of the relevant authorities.
The acquisition is expected to amount to about 2 trillion yen, and if realized, it will be a major restructuring between Japan and the American steel giants.
The U.S. steel market is a stable market centered on domestic demand that is not dependent on exports, and the market is expected to grow further in the future due to the so-called "return to Japan," which aims for stable supply in Japan from the perspective of economic security.
Japan Steel aims to strengthen its business in the U.S. through the acquisition, and to strengthen its competitiveness among global steelmakers by combining the technologies of both companies, such as environmental technologies for decarbonization.