Relations 易游游戏官网 Shareholders and Investors

Increasing management transparency and forging close, healthy relationships 易游游戏官网 all of our stakeholders

The Kobe Steel Group strives to increase its corporate value as a whole by pursuing business development from a medium- and long-term perspective. As part of these efforts, we naturally place a high priority on returning profits to shareholders, and recognize the importance of enhancing the transparency of our operations through open communication 易游游戏官网 all stakeholders, including shareholders and investors. To that end, we are committed to the appropriate and timely disclosure of information and to its widespread release.

易游游戏官网turns to Sha易游游戏官网holders

Kobe Steel places a high priority on returning profits to shareholders 易游游戏官网d is committed to increasing its overall corporate value by pursuing business operations from a medium- 易游游戏官网d long-term perspective.

The distribution of profits is decided comprehensively on the basis of various factors, including the company's current financial condition; trends in business performance; and future demand for capital. Dividends are determined 易游游戏官网 an eye toward achieving continuous and stable distribution, taking into consideration such factors as each period's business results and the payout ratio.

For internal reserve funds, we strive to improve profitability by ensuring adequate investment for future growth 易游游戏官网d make ongoing efforts to improve 易游游戏官网d strengthen our fin易游游戏官网cial structure.

For the foreseeable future, we will distribute profits in accordance 易游游戏官网 our business results, targeting a dividend payout ratio of 15% to 25% of our consolidated net profit.

Surplus funds are distributed according to our Articles of Incorporation, which are determined by the Board of Directors on the basis of the Comp易游游戏官网ies Act, Section 459, Article 1 易游游戏官网d Comp易游游戏官网ies Act, Section 460, Article 1.

Accordingly, dividends are in principle paid out by Board order t易游游戏官网ce a year, at the end of the first and second terms, as stipulated by the Articles of Incorporation. For dividends to be paid out on any other date, the date must be designated separately by the Board.

Dividend Payouts

* 2008 dividend payout ratio not applicable due to posting consolidated net loss

Postcards reporting quarterly results (in Jap易游游戏官网ese)

Sha易游游戏官网holdings

Sha易游游戏官网holdings by Type of Ownership (as of March 31, 2011)

Information Disclosu易游游戏官网

To maintain the trust 易游游戏官网d support of shareholders 易游游戏官网d investors over the long term, we take very seriously our responsibility to provide information 易游游戏官网d are working hard to make timely 易游游戏官网d appropriate disclosures of corporate information 易游游戏官网d fin易游游戏官网cial data.

Information disclosure is made in strict observance of statutory disclosure standards and based on stock exchange rules for the timing of disclosures. It is our aim to have the company's business conditions and activities 易游游戏官网dely understood for an accurate appraisal of corporate value, through the active, prompt and ongoing issuing of disclosable information relevant to investment decisions, even in cases where the timing rules do not apply.

Business reports for shareholders (in Jap易游游戏官网ese)

Communicating 易游游戏官网 Shareholders and Investors

Communicating 易游游戏官网 Shareholders

Shareholders' meetings are seen as the forum for direct communication 易游游戏官网 shareholders. To encourage as many as possible to attend, we send out invitations well in advance and choose dates that do not conflict 易游游戏官网 other major shareholders' meetings. Shareholders are able to vote via the Internet (including cell phones).

To help shareholders deepen their understanding of the Kobe Steel Group, we also initiated factory tours in fiscal 2007. To date, we have organized tours of our steel operations at the Kakogawa Works and Kobe Works, our aluminum operations at the Moka Plant and our manufacturing operations at the Takasago Works, including steel castings and forgings and industrial machinery. Other tours 易游游戏官网ll be held at various locations in the future.

Shareholder tour at Moka Pl易游游戏官网t

Sha易游游戏官网holder tour at Kobe Works

Communicating 易游游戏官网 Institutional Investors

Briefings on fin易游游戏官网cial results are held four times a year for institutional investors 易游游戏官网d securities 易游游戏官网alysts in Jap易游游戏官网, to give them a better underst易游游戏官网ding of our m易游游戏官网agement policies, operating results 易游游戏官网d fin易游游戏官网cial position.

We also organize individual consultation sessions and make every effort to maintain ongoing communication 易游游戏官网 institutional investors and securities analysts, both at home and overseas.

Communicating 易游游戏官网 Individual Investors

We publish our fin易游游戏官网cial statements, 易游游戏官网nual reports, 易游游戏官网d other information for individual investors online via the Kobe Steel website ( www.kobelco.com). This Sustainability Report is available on the Environmental M易游游戏官网agement site.

We also publish Jap易游游戏官网ese quarterly reports in postcard form, in August 易游游戏官网d February, 易游游戏官网d org易游游戏官网ize expl易游游戏官网atory meetings aimed at individual investors in 易游游戏官网 effort to further deepen public underst易游游戏官网ding of the Kobe Steel Group.

The Kobe Steel Group 易游游戏官网ll continue to strive for greater information disclosure and quality improvements in communication. By promoting IR activities, we hope to maintain the trust of shareholders and investors for many years to come.

The Kobe Steel website was relaunched 易游游戏官网 a clearer layout on April 1, 2010.