Nippon Steel to change method of price talks with domestic clients

Japan's top steelmaker, Nippon Steel Corp, aims to adopt a new pattern for semi-annual price negotiations of term contracts with domestic industry customers from next April and is in talks with them, a company official said on Tuesday.

Executive Vice President Takahiro Mori added that the steelmaker wanted to keep a good relationship with Toyota Motor Corp, as one of its most important customers.

In October, Nippon Steel filed patent infringement lawsuits in a Tokyo district court against Toyota and China's Baoshan Iron & Steel Co Ltd (Baosteel).