FILE – Nippon Steel Corporation’s logo is displayed on a sign outside its headquarters in Tokyo on Nov. 26, 2021. Nippon Steel Corp. has dropped its lawsuit against Toyota Motor Corp. over a patent for a technology used in electric motors, saying wrangling among Japanese companies was not beneficial to keep the nation competitive, according to Japan’s top steelmaker’s statement Thursday, Nov. 2, 2023. (AP Photo/Hiro Komae, File)TOKYO (AP) — Nippon Steel Corp.
The lawsuit over intellectual property demanding compensation for damages totaling 20 billion yen ($133 million) was filed in Tokyo District Court in October 2021. Tokyo-based Nippon Steel said it is still suing Baoshan Iron & Steel Co., or Baosteel, a Chinese steelmaker that produces and supplies the steel that it alleges violates the patent.
The lawsuit against Toyota, Japan’s biggest automaker, was related to steel sheets used in electric vehicle motors and manufactured by Baosteel.
Nippon Steel lifts annual outlook on improved first-half marginsNippon Steel lifts annual outlook on improved first-half margins Read more ⮕
Japanese automaker Toyota’s profits zoom on cheap yen, strong global salesToyota’s profit in the latest quarter jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings. Toyota reported Wednesday 1.28 trillion yen, or $8.5 billion, in quarterly profit, up from 434 billion yen the previous year. Quarterly sales rose 24%. Read more ⮕
Japanese automaker Toyota’s profits zoom on cheap yen, strong global salesToyota’s profit in the latest quarter jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings. Read more ⮕
Japanese automaker Toyota’s profits zoom on cheap yen, strong global salesToyota’s profit in the latest quarter jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings. Read more ⮕
Japanese automaker Toyota’s profits zoom on cheap yen, strong global salesToyota’s profit in the latest quarter jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings Read more ⮕
Toyota’s profits surge as weak Japanese yen bolsters carmaker’s revenuesLouis Goss is a MarketWatch reporter based in London. Read more ⮕
