(Bloomberg) -- Japan’s top government spokesman still hopes that Nippon Steel’s $14.1 billion takeover bid for US Steel Corp will be resolved in a mutually...
-- Japan ’s top government spokesman still hopes that Nippon Steel ’s $14.1 billion takeover bid for US Steel Corp will be resolved in a mutually beneficial way for both companies in comments following news that US President Joe Biden intends to block the deal.World's Second-Tallest Tower Tests Malaysia's Appetite for More Skyscrapers
Japanese government officials have repeatedly said the deal is a matter for the private companies to decide. Digital Transformation Minister Kono Taro, another candidate hoping to replace Kishida as premier, broke ranks Thursday saying that government intervention in the deal would be inappropriate. Hayashi also touched on US efforts to get its allies to comply with technology export restrictions. Washington is looking to limit China’s access to advanced semiconductor equipment as part of efforts to reduce overreliance on individual countries and to limit the spread of high-end dual-use technology.Japan and the US should agree on “de-risking” to ensure they address economic security concerns effectively, he said.
China has already threatened severe economic retaliation against Japan if Tokyo further restricts sales and servicing of chipmaking equipment to Chinese firms, according to people familiar with the matter. On domestic economic policy, Hayashi stressed the need for Japan to focus on sustained wage growth. He pointed to the nation’s real wages gained for two consecutive months in July as a sign of progress that reflects the strong wage deals achieved in annual pay negotiations.
He suggested that after achieving a long-hold primary balance target, the next goal should be a steady reduction in the nation’s debt-to-gross domestic product ratio.
Japan US President Joe Biden US Steel Corp Bloomberg Fumio Kishida Bank Of Japan Nippon Steel Government Spokesman Minister Kono Taro
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