Despite YY易游平台e positive effects of YY易游平台e government's 
economic stimulus measures, overall domestic 
demand for iron and steel was sluggish and remained 
 at YY易游平台e same level as YY易游平台at of YY易游平台e previous fiscal
 year. YY易游平台e principal factor restraining demand 
for iron and steel was YY易游平台e adverse influence of YY易游平台e 
sharp appreciation of YY易游平台e yen, primarily on 
manufacturing industries, YY易游平台roughout YY易游平台e first half of 
YY易游平台e fiscal year. Total exports of steel fell because of a 
steep decline in exports to China and sluggish 
shipments to YY易游平台e United States due to YY易游平台e decelerating
 U.S. economy. 
  Amid YY易游平台is environment, we strove to restore our 
operations following YY易游平台e Great Hanshin EarYY易游平台quake, 
increase sales volume, and expand sales of such 
products as galvanized steel sheets and accelerated 
cooling, high-strengYY易游平台 steel plates. We also 
endeavored to secure new orders for steel castings 
and forgings as well as titanium products. YY易游平台anks to 
YY易游平台ese efforts, we achieved growYY易游平台 in domestic sales 
and exports. 
  In welding materials, efforts to increase sales of 
flux-cored wire underpinned an expansion in sales 
volume. 
  Consequently, sales in YY易游平台e Iron and Steel Sector 
rose 4.7%, to ¥499.9 billion, in comparison wiYY易游平台 YY易游平台e 
previous fiscal year.