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June 10, 2005
    
Watex to Undergo Corporate Split
 

Metal One Corporation (headquartered in Minato-ku, Tokyo; President: Moriji Kanada) has announced that Watex Corporation will split into two separate units - Watex Corporation and Watex Hokkaido Corporation - on July 1, 2005. Watex Corporation is the Metal One Group's bar and construction steel products marketing company. The objective of the separation is to strengthen regional distribution and relations with customers, and to improve service.

Outline following separation:
 
Watex Corporation
  1. Name:   Watex Corporation
  2. Headquarters:   Kyobashi No. 9 Nagaoka Bldg. 6F
2-21-2 Hatchobori, Chuo-ku, Tokyo
  3. Branches and office:   Urayasu, Takasaki, Utsunomiya and Niigata Branches; Mito Office
  4. Legal representative:   President Tetsuya Onishi
  5. Capitalization:   ¥330 million
  6. Scale of operations:   Approx. ¥12 billion (annual sales)
         
Watex Hokkaido Corporation
  1. Name:   Watex Hokkaido Corporation
  2. Headquarters:   54-6 Kyoei
Kita-hiroshima-shi, Hokkaido
  3. Branches and office:   Asahikawa Branch and Obihiro Office
  4. Legal representative:   President Seiichi Aoki
  5. Capitalization:   ¥100 million
  6. Scale of operations:   Approx. ¥8 billion (annual sales)
 
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