Regarding Japan Steel's decision to acquire a major American steel manufacturer by Japan Steel, Japan's largest steelmaker, Yoshihisa Kitano, chairman of the Japan Iron and Steel Federation, expressed his hope at a press conference that it would lead to stronger cooperation between the Japanese and U.S. steel industries in terms of decarbonization and other aspects.
Japan Steel announced on the 18th that it has reached an agreement between the two companies to acquire US Steel, a major American steel manufacturer, and the purchase amount is expected to reach about 2 trillion yen.
Regarding the acquisition agreement, Kitano, chairman of the Japan Steel Federation, said at a regular press conference on the 20th, "The success of this acquisition proposal will further deepen the cooperation between the Japan and the U.S. steel industry, with a focus on carbon neutrality," and expressed hope that it will lead to stronger cooperation between the Japanese and U.S. steel industries in terms of decarbonization and other aspects.
In addition, Kitano, who serves as president of JFE Steel, a major Japanese industry player, said, "The U.S. steel market is stable and is expected to grow in the future. As an individual company, we would like to consider the steel business in the U.S. if there is an opportunity," he said, indicating that he would consider further business development in the U.S. market.