S/ Hashimoto Eiji, Nippon Steel Chairman / We will never give up on conducting business in the United States. I believe there is no reason or need to give up, and Nippon Steel and US Steel also share this viewpoint. If there truly were national security issues, Biden should have been able to decide long ago not to approve the plan. President Biden's illegal political interference led to the executive order without CFIUS (Committee on Foreign Investment in the United States) carrying out its review process properly, and we cannot accept this by any measure. At this stage, we do not have any alternative plans in mind.

Nippon Steel chairman Hashimoto Eiji made the remarks in Tokyo on January 7.

This was a day after the Japanese steelmaker and United States Steel sued the US government, seeking to nullify US President Joe Biden's executive order to block the two companies' merger plan.

Biden cited national security as a reason to reject the move in his order issued on January 3.

Hashimoto said Nippon Steel's acquisition plan is the best solution for US Steel and the US steel industry as a whole.

S/ Muto Yoji, Economy, Trade and Industry Minister / The government will consider what kind of specific support we can provide based on Nippon Steel's future response.

Economy, Trade and Industry Minister Muto Yoji reiterated the Japanese government's intention to assist the company.

Nippon Steel's Hashimoto said there is a chance of winning the lawsuit, adding that he is confident that court proceedings will show that Biden's decision violated the Constitution or legislation.