MKM steel, an alloy containing nickel and aluminum, was developed in 1931 by metallurgist Tokushichi Mishima (三島徳七).
While conducting research into the properties of nickel, Mishima discovered that a strongly magnetic steel could be created by adding aluminum to non-magnetic nickel steel.
[1] The developers claim MKM steel is tough and durable, inexpensive to produce, maintains strong magnetism when miniaturized and can produce a stable magnetic force in spite of temperature changes or vibration.
MKM steel is similar to Alnico.
[citation needed] MKM is an acronym for Mishima Kizumi Magnetic, 'Kizumi (喜住)' being the inventor's childhood surname.