TOKYO (Reuters) – Taro Kono, an executive of Japan’s ruling party, said on Thursday that government decisions should not be distorted by efforts to win votes from labour unions, when asked about reports that U.S. President Joe Biden will block Nippon Steel’s acquisition of U.S. Steel. Governments should not intervene in individual deals as buyouts […]
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Japan prime minister hopeful Kono says govts should not intervene in deals
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TOKYO (Reuters) – Taro Kono, an executive of Japan’s ruling party, said on Thursday that government decisions should not be distorted by efforts to win votes from labour unions, when asked about reports that U.S. President Joe Biden will block Nippon Steel’s acquisition of U.S. Steel.
Governments should not intervene in individual deals as buyouts can benefit targeted companies and regions, Kono said in a press conference where he laid out policy pledges for the Liberal Democratic Party’s leadership race that he hopes to win.
The Liberal Democratic Party’s parliamentary control means its leader becomes the prime minister of Japan.
(Reporting by Makiko Yamazaki; Editing by Christian Schmollinger)