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Nippon Steel sues Toyota, Baoshan for patent infringement By Reuters

© Reuters. FILE PHOTO: A production line of Nippon Steel & Sumitomo Metal Corp.’s Kimitsu steel plant is pictured in Kimitsu, Chiba Prefecture, Japan, May 31, 2018. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) – Japan’s Nippon Steel & Sumitomo Metal Corp on Thursday said it has filed patent infringement lawsuits against Toyota Motor (NYSE:) Corp and China’s Baoshan Iron & Steel Co Ltd (Baosteel).

Nippon Steel stated in a press release that it sought 20 billion yen ($176.26million) from all companies in order to recover its patent relating to non-oriented magnet steel sheets.

($1 = 113.4700 yen)

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.