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Company veteran Takahiro Mori the face of Japan firm's bid
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Mori has made about 10 trips to U.S. since start of 2025
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Nippon Steel has long sought U.S. Steel purchase
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Trump voices support after political firestorm
By John Geddie, Tim Kelly and Yuka Obayashi
TOKYO, May 26 (Reuters) - Snow lay thick in the Pittsburgh suburbs as
Takahiro Mori, a bespectacled, 67-year-old executive from
Japan's Nippon Steel, huddled in a cluttered garage
with community leaders to reassure them he was not giving up on a bid to buy the town's steel mill.
Just days before the early January meeting, U.S. President Joe Biden had blocked Nippon Steel's proposed $14.9 billion takeover of U.S.
Steel, a move both companies said risked thousands of jobs and billions of dollars
in investment.
With Biden's incoming successor Donald Trump also voicing opposition to the planned purchase, the outlook was bleak.
Fast forward five months and the persistence shown by the firm's chief negotiator seems set to pay off, with Trump now signalling he
is prepared to support a deal.
"It's been a long, hard battle," said Chris Kelly, the 70-year-old mayor of West Mifflin who hosted Mori for the January meeting at his garage-cum-office on a suburban residential street near U.S.
Steel's ageing Irvin plant.
He said he has met Mori on several occasions since Nippon Steel's
bid was first unveiled in late 2023, including at an American football game and a Pittsburgh restaurant just over a week ago when the Japanese
executive flew in to give an update on the latest developments of the planned takeover.
Nippon Steel declined to comment on the meetings.
Mori, a 40-year company veteran, has been the public face of Nippon Steel's extensive efforts to convince local workers, officials and
U.S. lawmakers of the economic merits of a merger plan that has had to weather a
political firestorm.
"I just have a strong desire to make this work somehow,"
a calm and smiling Mori, who serves as the company's vice
chairman and executive vice president, told Reuters in an interview
last week when asked about how he had personally endured the saga.
Mori said he had made around 10 trips to the United States since the start of the year alone,
visiting steel towns and Washington DC, where lawmakers have been deliberating over
any potential national security risks posed by the transaction.
"On the plane to the destination, I can hardly sleep," he said, explaining that he had to read reams of documents, prepare for meetings during the flight, and work through the
night to manage tasks back in Japan.
There may still be twists ahead. While Trump has said he
supports a "planned partnership" between the two companies,
lingering questions remain about the scope of the deal
and its costs for the Japanese firm.
HIGH STAKES
For Japan's top steelmaker, U.S. Steel is central to its
global expansion strategy at a time when domestic
demand is declining.
A merger would create the world's third-largest steel producer by
volume, after China's Baowu Steel Group and Luxembourg-based ArcelorMittal, according to World Steel Association data.
While Mori has had a hand in the firm's overseas expansion efforts in places like Brazil and India, the acquisition of a company centred in the critical swing state of Pennsylvania in an election year presented unique challenges.
As soon as the agreement was announced in December 2023, the politically-influential
United Steelworkers union issued a statement condemning U.S.
Steel for selling the storied American firm to a foreign-owned
company.
Within weeks, Biden had joined his election challenger Trump in saying he was against
the deal, subjecting it to the first of two rounds of national security
reviews by the secretive Committee on Foreign Investment in the United
States.
Just before Trump signalled support on Friday, the union issued a statement
alleging Nippon Steel was "a serial trade cheater" and that the sale would be "a disaster" for American steelworkers.
In an interview with Reuters in December, union chief David McCall,
said he was frustrated by what he said was the Japanese company's refusal to give assurances about their
long-term commitment to the company and its workers.
However, he described Mori, his opposite man in those talks, as "personable".
What appears to have swung the deal back in Nippon Steel's favour with the transactional
Trump is money.
The firm has plans to invest $14 billion in U.S.
Steel's operations, including up to $4 billion in a new steel mill, Reuters exclusively reported
last week.
But on the ground in Pittsburgh at least, the persistence and
personal touch of Mori, who obtained a masters degree from the
University of Pennsylvania's Wharton School in 1992, has also left an impression on some of those he has met.
"They've embraced everything about the city of Pittsburgh," said Kelly,
the mayor, recounting that Mori was yelling and waving a towel in support when the pair
attended a match for the local Pittsburgh Steelers
American football team last year. (Reporting by John Geddie, Tim
Kelly and Yuka Obayashi in Tokyo; Editing by Kate Mayberry)
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