Nippon Steel sues Toyota, Baoshan for patent infringement

Stock Markets11 minutes ago (Oct 14, 2021 02:40AM ET)

(C) 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:TM) Corp and China’s Baoshan Iron & Steel Co Ltd (Baosteel).

Nippon Steel in a news release said it was seeking 20 billion yen ($176.26 million) in damages from each company regarding its patent related to non-oriented magnetic steel sheets.

($1 = 113.4700 yen)

Nippon Steel sues Toyota, Baoshan for patent infringement

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