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Metal One Receives Best Partner Award from PT. Suzuki Indomobil Motor From Value One Autumn 2013 No. 42

First Such Award for a Trading Company

General manager Norimasa Mizugaki receives the Best Partner Award on behalf of Metal One
 
PT. Suzuki Indomobil Motor, an Indonesian subsidiary of Suzuki Motor Corporation, recently awarded Metal One its Best Partner Award. This prize is presented to business partners that have helped PT. Suzuki Indomobil Motor save on costs, boost production efficiency and competitive strength, and otherwise been of major assistance.

The prize usually goes to parts manufacturers or steel service centers, but PT. Suzuki Indomobil appreciated Metal One‘s activities during the second half of 2012 so much that it made us the first trading company ever to receive the award. Mr. Norimasa Mizugaki, general manager of the Automotive Steel Products Business Department, attended the awards ceremony held in April 2013 in Jakarta and accepted the award and commemorative gift.

Suzuki Indomobil Motor operates two factories in Indonesia that manufacture motorcycles and four–wheeled vehicles. The number of motor vehicles produced in Indonesia surpassed one million for the first time in 2012, and is maintaining a consistently upward trend. The Metal One Group will continue to contribute to Suzuki's production expansion.

(Automotive Steel Products Business Department)

 

Metal One Receives Big Rail Order for Sojitz's Indian Freight Railroad Project From Value One Autumn 2013 No. 42

Received an Order for Approximately 153,000 Tonnes of Heat-Treated Train Rails

Metal One received an order for approximately 153,000 tonnes of heat-treated train rails from Sojitz Corporation for use on the dedicated freight railway project (Western DFC Line)—the core of India's Delhi-Mumbai Industrial Corridor scheme. This project covers the construction of a dedicated freight railway extending over approximately 626 kilometers of the approximately 1,500 kilometers between Delhi and Mumbai, and will cost approximately ¥110 billion, one of the largest sums ever spent in the framework of Japan's ODA loans.

Sojitz teamed up with Larsen & Toubro Limited—one of India's largest general contracting and integrated engineering companies—to win this order for packages 1 and 2 of the first phase of the Western DFC Line from Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL), which operates under the auspices of the Indian government. In addition to laying the 626 kilometers of track needed to link Rewari, Haryana State, in northern India to Ikbalgarh, Gujarat State, in western India, this project covers incidental civil engineering work and the construction of station buildings and bridges. Metal One will deliver Japanese-made heat-treated rails. Actual construction will begin this fall, with completion scheduled in the summer of 2017.

The total cost of the Western DFC Line project is estimated at about ¥900 billion. Construction will be done in a number of packages and phases. Bids on package 3 of the first phase will be invited soon, and Metal One will again assist in the materials supply aspect of Sojitz's bid.

(International Infra & Energy Steel Business Department)

 

Seminar Discusses New Taxation Guideline on Transfer Pricing From Value One Autumn 2013 No. 42

The New Taxation Guideline Introduced in April 2013

The scene at the seminar
The new taxation guideline Metal One introduced in April 2013 addresses the importance of tax rule compliance and tax costs in transactions and investments with a view to smooth handling of tax affairs and enhancing the whole Metal One Group's international competitiveness.

Against this background, we decided to invite outside experts to provide guidance on the preparation of transfer pricing documents—documents certifying the validity of the prices of transactions with overseas subsidiaries—from the viewpoint of tax rule compliance. To prepare for that, the Corporate Accounting Department held an internal seminar regarding tax rules applicable to transfer pricing in July 2013 at the conference room of the head office.

International taxation of global corporations has grown increasingly strict in recent years. Taxation applicable to transfer pricing has been introduced in many countries, and the implementation of such tax systems is also increasing in strictness. In Japan, too, the revised tax system provides for overwhelmingly mandatory preparation of transfer pricing documents.

During the seminar, entitled "An Outline of the Transfer Pricing Taxation System and How to Address Its Implications," an outside expert briefed Metal One on the system, explained the future schedule of document preparation, and gave guidance regarding interviews on the outline of upcoming transactions. The seminar succeeded in deepening the understanding of staff members before documentation begins on a regular basis.

(Corporate Accounting Department)

 

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