I believe it is an older type of stainless steel from Japan. It should hold a good edge but may not be as hard as some of the newer steels. That's not necessarily a bad thing. In general ,the harder the steel the longer the edge will hold but the more difficult it will be to resharpen.
I have always been told that softer metal is the better knife as you can get them sharper.But I am not sure of the way they are rated.I just bought a new butcher knife and it is made from German steel.It was quite pricey but is the best knife I have ever used.
Also our hoof trimming knives are imported from Germany and are soft metal.They are really good and do a nice clean job.