Nippon Steel deal shows Japan Inc. has to rethink overseas M&A

Sociopolitical factors must be key considerations in investment decision-making

20240626 nippon steel

 U.S. Steel shareholders have already approved the sale of the company to Nippon Steel, but the transaction is on hold while government agencies reviews the deal. © AP

Nobuko Kobayashi co-leads the Japan consumer practice of global strategy consulting group EY-Parthenon. Kyle Lawless leads the Japan geostrategic business group at EY-Parthenon.

Six months after Nippon Steel announced plans to acquire U.S. Steel, political opposition to the takeover remains one of the few bipartisan issues in Washington.

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