Metal One Metal One Coporation
November 10, 2003
Integration and Reorganization of Metal One Group
NIK Metal and NI Steel Products to Merge
(Follow-up Report)
As part of the integration and reorganization of its subsidiaries the backbone of the "Mid-term Consolidated Management Plan" Metal One Corporation (Head Office: Minato-ku, Tokyo; President: Masashi Mizutani) has moved forward with plans to merge NIK Metal Corporation (Head Office: Nishi-ku, Osaka; President: Yoshinori Takeda) and NI Steel Products Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Moriji Ota). A summary of the merger plan follows.

With a view to optimum performance and setup, the single merged company will further expand the community-based, customer satisfaction-driven business model that has been the wellspring of profits for NIK Metal Corporation and NI Steel Products Co., Ltd. The merged unit will aim to enlarge the "value chain" from raw materials to finished products and expand the market for its niche products in key regions overseas. The company will be able to utilize its expertise in these fields to attain increased sales strength and cost competitiveness and to be central to Metal One's wire rods, specialty steel and stainless steel product business.

Form of Merger
NIK Metal Corporation will continue to operate, while NI Steel Products Co., Ltd., will be dissolved, which means this is an "absorption-type merger."

Outline of the new company
  1. Name:   Metal One Steel Products Corporation
  2. Headquarters:   4-6-9 Itachibori, Nishi-ku, Osaka, Osaka Prefecture
  3. Branches and Offices:   Tokyo Branch, Nagoya Branch, Hiroshima Office, Shizuoka Office
  4. Board members:    
    Yoshiharu Harima:   CEO and President*
    Tsuyoshi Imada:   Director (Managing Executive Officer)
    Yosuke Kamekawa:   Director (Managing Executive Officer)
    Susumu Komori:   Director
    Yoichi Yamane:   Director
    Ichiro Furuno:   Director
 * As of November 7, 2003, Yoshiharu Harima has assumed the posts of director and vice-president of both NIK Metal Corporation and NI Steel Products Co., Ltd.
  5. Capitalization   ¥480 million
  6. Main shareholder   Metal One Corporation (100%)
  7. Date of merger   January 1, 2004
  8. Scale of operations   FY 2004 Sales  :  approx. ¥90 billion,
Total operating profit: approx. ¥4 billion
* Metal One Corporation was established in January of this year as a corporate venture aimed at integrating the steel product businesses of Mitsubishi Corporation and Nissho Iwai Corporation.
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