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Nippon Steel & Sumitomo Metal (NSSMC) received approval from the Japan Fair Trade Commission to make Nisshin Steel a subsidiary. NSSMC will conduct a tender offer in February 2017 to raise its stake from 8.3% to 51%. To address antitrust concerns, NSSMC will transfer technology and manufacturing rights for certain steel products to Kobe Steel and Nippon Yakin Kogyo.