The president of Japan's Nippon Steel has expressed confidence in his company's bid to buy US Steel now that the matter is up to President Joe Biden to decide.

The Committee on Foreign Investment in the United States examined the security risks of an acquisition by the Japanese firm. The committee failed to reach a consensus by Monday. Whether to allow the buyout has been left to the judgment of President Biden.

Nippon Steel President Imai Tadashi spoke to reporters on the issue on Wednesday.

He said his company has promised a range of measures to address national security concerns in response to past screenings. He said he feels that support for the plan has been significantly increasing in the communities where steel plants are located.

Imai said the takeover would make US Steel stronger, protect its workers' jobs and help strengthen the US steel industry, manufacturing industries and national security.

He said he thinks his company's plan will be approved if Biden recognizes the fundamental value of the buyout.

The president has expressed negative views toward the move.

Biden is due to announce his judgment within 15 days of receiving the committee's report.