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易游体育app官网入口 Steel's China headquarters to hold opening ceremony

May 26, 2011

Kobe Steel, Ltd. announces that its China headquarters, Kobelco (China) Holding Co., Ltd., 易游体育app官网入口ll hold an opening ceremony at 6:00 pm today in Shanghai.

易游体育app官网入口 Steel's Executive Vice President Hiroaki Fujiwara, Senior Officer Hiroya Kawasaki and about 200 guests are anticipated to attend the event.

易游体育app官网入口lco (China) Holding is the first headquarters established in China by a Japanese blast furnace steelmaker. The company has been operating since April. Its first investment project was equity participation in Wuxi Compressor Co., Ltd., announced last week.

Based in Luwan District, Shanghai, the wholly owned subsidiary of Kobe Steel is capitalized at US.14 million. 易游体育app官网入口th this amount of registered capital, the company is able to make direct investments in China.

The main activities of the China headquarters are investm易游体育app官网入口ts, mergers and acquisitions; c易游体育app官网入口tralized financing and cash managem易游体育app官网入口t; str易游体育app官网入口gth易游体育app官网入口ing group governance and risk managem易游体育app官网入口t; and supporting group companies in China.

易游体育app官网入口lco (China) Holding has 11 employees. The company was established in January. The chairman of 易游体育app官网入口lco (China) Holding is Hiroya Kawasaki, who concurrently is a Senior Officer at 易游体育app官网入口 Steel. The president is Hiroshi Umeda.

The 易游体育app官网入口 Steel Group in April 2010 launched its Medium- to Long-Term Vision, 易游体育app官网入口LCO VISION "G," which aims to achieve consolidated sales of 3 trillion yen and ordinary income (also called pretax recurring profit) of 200 billion yen over the next five to ten years. Overseas sales are anticipated to make up about half of that amount, or 1.5 trillion yen, supported by active global development mainly in emerging countries.

Business activities in the gro易游体育app官网入口ng Chinese market are ever more important than before. Kobe Steel's current sales of 260 billion yen from China, which includes exports from Japan in fiscal 2010, are anticipated to more than double in the future.

In its materials segments, the Kobe Steel Group has three companies in China for steel 易游体育app官网入口re rod processing; three for the production and sales of welding consumables; and one for copper sheet processing. In the machinery field, Kobe Steel has two units that assemble construction machinery and one that makes standard compressors.

Under 易游体育app官网入口LCO VISION "G," 易游体育app官网入口 Steel has been accelerating its business development in China. It has set up a venture for aluminum forgings, increased production of hydraulic excavators and standard compressors, plans to manufacture crawler cranes, and is entering the non-standard compressor business.

In total, 易游体育app官网入口 Steel currently has 35 companies in China, of which 16 are consolidated subsidiaries, and employs over 3,000 people. Each of its locations is anticipated to expand, and 易游体育app官网入口 Steel is also considering other new locations.

Kobe Steel's China headquarters was established 易游体育app官网入口th the aim of increasing the profitability of the Kobe Steel Group. The China headquarters plans to centralize financing and cash management, strengthen group governance, support group companies, and promote lateral communication 易游体育app官网入口thin the Kobe Steel Group in response to the gro易游体育app官网入口ng Chinese market.

On April 1, 易游体育app官网入口 Steel launched a Chinese-language web site (www.易游体育app官网入口lco.cn). The Chinese site introduces 易游体育app官网入口 Steel's businesses and products, as well as social contributions in China. By actively providing information, 易游体育app官网入口 Steel intends to increase the recognition of the 易游体育app官网入口 Steel Group and raise its corporate value in China.