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May 12, 2006

    

Announcement of Eastern Europe Partnership with Toyo Bussan

 

Metal One Corporation (headquartered in Minato-ku, Tokyo; President: Moriji Kanada) is pleased to announce the decision to enter into a business partnership with Toyo Bussan Co., Ltd., in Eastern Europe. The details of this plan by the two companies follow below.

Metal One Corporation and Toyo Bussan Co., Ltd., have formally committed to studying the feasibility of establishing a partnership in the manufacture and sales of parts for automobiles and in other industrial fields. The affiliation is seen encompassing companies in both corporate groups. To advance effective collaboration in Eastern Europe, as the first phase of this partnership, the decision has been made for Nifast Hungary Kft., Metal One's subsidiary in Hungary, to accept employees on loan from Toyo Bussan. Based on this, studies are now under way to define the best possible means for the two companies to carry out joint investment in Eastern Europe from here on.

<For supplemental reference>

Outline of Toyo Bussan Co., Ltd.

1. Principal business: Sales of fasteners, processed components, raw steel, electrical components, chemical products, industrial instruments, etc., and associated activities
2. Establish date:

August 1, 1946

3. Headquarters: 2-7-16 Sakuragawa, Naniwa-ku, Osaka
4. Legal representative: Satoshi Otohata, President and Representative Director
5. Capitalization: ¥5,001 million (as of March 2006)
6. Employees: 1,173 (as of March 2006)
7. Major shareholders and shareholding ratio:

Sumitomo Electric Industries, Ltd. (34.95%)
The Chase Manhattan Bank, NA London (7.60%)
Tobutsu Kyoeikai (6.27%)
Sumitomo Light Metal Industries, Ltd. (3.20%)
Toyo Bussan Employee Stockholders' Association (2.71%)
Japan Trustee Services Bank, Ltd. (2.65%)
Okitsu Corporation (2.34%)

     

Outline of Nifast Hungary Kft.

1. Principal business: Just-in-time delivery operations of fasteners and other products to the automobile industry, etc.
2. Establish date: April 5, 2004.
3. Headquarters: H-2500 Esztergom, Schweidel utca 50, Hungary
4. Legal representative: Naosuke Aimi, Director
5. Capitalization: 90 million Hungarian Forints (as of the end of December 2005)
6. Employees: 11 (regular employees) + 6 (warehouse workers/dispatched employees) (as of March 2006)
7. Major shareholder and shareholding ratio: Metal One Corporation (100%)
 
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