The amount of claims rose to 3 billion yuan! Nippon Steel sues Baosteel Co., Ltd. for patent infringement-Industry News-Shenzhen deep trust patent Agency Co., LTD

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The amount of claims rose to 3 billion yuan! Nippon Steel sues Baosteel Co., Ltd. for patent infringement

Release Time：

2022-08-19

On the evening of August 17, Baosteel Co., Ltd. announced that it had successively received court summons, indictments and other relevant materials for three cases filed by Nippon Steel against the company. The cases will be heard in Tokyo District Court, Japan. On October 14, 2021, Nippon Steel said in a statement that it had sued Toyota Motor and China Baoshan Steel Co., Ltd. for patent infringement in the Tokyo District Court. Nippon Steel claimed that the two companies infringed its use in electric vehicles. The two defendants were required to pay 20 billion yen (approximately US$176 million) each for the patent of non-oriented electrical steel plates.

The patent dispute between Baosteel Co., Ltd. (600019.SH) and Nippon Steel has further escalated.

Nippon Steel claimed that the electromagnetic steel plates supplied by Baosteel Co., Ltd. to Toyota Motor infringed on three of its patents and filed separate lawsuits in court. Electromagnetic steel plate, also known as silicon steel, is the core raw material of new energy vehicle drive motors. Baosteel Co., Ltd. has been supplying electromagnetic steel plates to Toyota Motor in batches since 2019.

Baosteel Co., Ltd. disclosed that the claims amount in the above three cases were all about 20.4 billion yen (approximately 1.02 billion yuan), and the total claim amount exceeded 3 billion yuan.

This figure is significantly higher than the amount of claims previously filed by Nippon Steel. In October last year, Nippon Steel issued a statement stating that it had filed a lawsuit in court against Baosteel Co., Ltd. and Toyota Motor Corporation for patent infringement. The claim amount against Baosteel Co., Ltd. was 20 billion yen (approximately 1 billion yuan).

Statement from Nippon Steel

Baosteel Co., Ltd. responded to Jiemian News at the time that it would actively respond to the technology patent lawsuit filed by Nippon Steel and resolutely defend the company's rights and interests.

"Patent recognition should be based on rigorous and scientific technical exchanges and verification between the two parties. Baosteel Co., Ltd. does not agree with Nippon Steel's unilateral claims." Baosteel Co., Ltd. said in a statement.

Nippon Steel said it decided to take legal action because it could not reach a solution with Baosteel Co., Ltd. and Toyota Motor through negotiation.

Baosteel Co., Ltd. said that after the dispute occurred, it repeatedly proposed to Nippon Steel for further communication and verification, but the other party repeatedly refused. Baosteel Co., Ltd. expressed regret for this.

Baosteel Co., Ltd. stated in its latest announcement that since this lawsuit has not yet been heard in court, the impact of the relevant cases on its current or subsequent profits is uncertain, and the actual impact will be subject to the final judgment of the court.

Baosteel's performance last year hit a record high, with revenue of 364.3 billion yuan and net profit of 23.6 billion yuan. In the first quarter of this year, Baosteel Co., Ltd.’s revenue was 85.98 billion yuan, a year-on-year increase of 3%, and its net profit was 3.73 billion yuan, a year-on-year decrease of 30%.

Baosteel Co., Ltd. is a holding subsidiary of China Baowu Steel Group (hereinafter referred to as China Baowu) and is also the core asset of its steel sector. China Baowu's crude steel production reached 119 million tons last year, ranking first in the world.

According to the ranking of steel production, Nippon Steel is the fourth largest steel manufacturer in the world and the largest steel manufacturer in Japan. Last year's crude steel production was 49.46 million tons.

Attached: Baosteel Co., Ltd.’s announcement regarding litigation

Source: Jiemian News, Juchao Information Network

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