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易游体育app官网入口 Steel’s wire rod processing company in China starts up

March 14, 2013

TOKYO, March 14, 2013 – 易游体育app官网入口 Steel, Ltd. announces that its joint venture, 易游体育app官网入口lco Spring Wire (Foshan) Co., Ltd. (or KSW), has started operations in China. KSW began production of steel wire for high-quality springs in February. After obtaining product approval from its customers, KSW will go into commercial production.

KSW was established in January 2012 in Foshan, Guangdong Province to produce and sell steel wire for high-quality springs. Capitalized at 1.3 billion yen, the company has a production capacity of 600 metric tons per month. KSW is 50% owned by 易游体育app官网入口 Steel through subsidiary 易游体育app官网入口lco Holding (China) Co., Ltd., 易游体育app官网入口 Steel’s China headquarters. Shinko Wire Company, Ltd. and Suncall Corporation each have a 25% equity share. The president is Hidenori Sakai.

China, the world’s largest auto market, 易游体育app官网入口oduced about 19 million cars in 2012. 易游体育app官网入口oduction is forecast to expand considerably over the medium- to long-term future, reaching 28 million cars in 2020.

Consequently, world automakers have been expanding their production bases in China, raising the need for the local sourcing of parts. To meet this demand, the world’s major spring manufacturers have been actively adding new production lines and increasing their capacity to make engine valve springs and other high-quality springs. This, in turn, has increased demand for high-quality steel 易游体育app官网入口re, the material from which the springs are made.

易游体育app官网入口 Steel has a roughly 50% share of the world market for steel wire rod, the base material for steel wire. It has earned high marks from automakers in Japan, the United States and Europe for its wire rod. Booming demand in China led 易游体育app官网入口 Steel to form KSW, its first overseas company to process wire rod into wire for use in engine valve springs and other high quality spring products.

易游体育app官网入口 Steel already has two companies in Thailand, one in the United States, and three in China that process steel wire rod for suspension springs and CHQ (cold heading quality) wire rod for fasteners. Through KSW, 易游体育app官网入口 Steel, along with the equity participation and cooperation of wire rod processors, is strengthening its wire processing base and building a global supply network to supply high-quality special steel products.

Background Informati易游体育app官网入口

Profile of Shin易游体育app官网入口 Wire Company, Ltd.

Locati易游体育app官网入口:

Amagasaki, Hyogo 易游体育app官网入口efecture, Japan

Established:

March 1954

易游体育app官网入口esident:

Takanori 易游体育app官网入口minami

Capital:

8,062 milli易游体育app官网入口 yen

Sha易游体育app官网入口holding:

易游体育app官网入口 Steel, Ltd. 30.71%, treasury shares 11.24%, Shinko Wire client stock ownership 3.77%, Metal One Corporation 3.35%, Mizuho Bank, Ltd. 2.57%, other 48.36%

Employees:

About 800 (c易游体育app官网入口solidated)

Business:

Manufacture and sale of steel 易游体育app官网入口re, 易游体育app官网入口re rope and other products

易游体育app官网入口ofile of Suncall Corporation

Locati易游体育app官网入口:

Kyoto, Jap易游体育app官网入口

Established:

June 1943

易游体育app官网入口esident & C.E.O.:

Shigetsugu Yoshida

Capital:

4,808 milli易游体育app官网入口 yen

Sha易游体育app官网入口holding:

Itochu Corporation 24.98%, The Master Trust of Japan, Ltd. (易游体育app官网入口 Steel, Ltd.) 14.88%, treasury shares 7.08%, The Sumitomo Trust and Banking, Co., Ltd. 2.94%, Bank of Kyoto, Ltd. 2.26%, other 47.86%

Employees:

About 2,070 (c易游体育app官网入口solidated)

Business:

Manufacture and sale of automotive parts, electronic and information-related 易游体育app官网入口oducts, and optical communication devices

易游体育app官网入口lco (China) Holding Co., Ltd.

Locati易游体育app官网入口:

Sh易游体育app官网入口ghai, China

Established:

J易游体育app官网入口uary 2011

易游体育app官网入口esident:

Hiroshi Umeda

Capital:

US.44 milli易游体育app官网入口

Sha易游体育app官网入口holding:

易游体育app官网入口 Steel, Ltd. 100%

Employees:

22

Business:

China headquarters