Japan PM asks Biden to allay considerations over Nippon Metal-US Metal deal

By Kevin Buckland and Kiyoshi Takenaka

TOKYO (Reuters) -Japan Prime Minister Shigeru Ishiba requested U.S. President Joe Biden to allay considerations within the Japanese and U.S. enterprise communities over the standing of Nippon Metal’s deliberate acquisition of U.S. Metal.

Ishiba made the request in a three-way on-line assembly with Biden and Philippine President Ferdinand Marcos Jr. on Monday, which lined problems with financial safety and cooperation in maritime safety within the South China Sea, in accordance with a spokesman from Japan’s Ministry of Overseas Affairs.

“Prime Minister Ishiba identified that cooperation amongst allies and like-minded international locations is indispensable for establishing resilient provide chains, and that it is very important make efforts to make sure that corporations can make investments with peace of thoughts with a purpose to promote financial safety,” he added.

The spokesman confirmed that Ishiba talked about the Nippon Metal-U.S. Metal deal specifically.

The Biden administration has delayed till June an order for Nippon Metal to desert its $14.9 billion bid for U.S. Metal, the businesses mentioned on Saturday, after the president earlier blocked the acquisition on nationwide safety grounds on Jan. 3.