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JFE Steel Corporation

JFE Steel Group to Integrate its Electric Furnace Operators

Tokyo --- JFE Steel Corporation announced plans to integrate four group companies with electric furnace-based production operations—JFE Bars & Shapes Corporation, Daiwa Steel Corporation, Tohoku Steel Corporation and Toyohira Steel Corporation—on April 1, 2012.

As the business environment in Japan grows increasingly severe due to sharp falls in the demand for construction steel materials, electric-furnace steelmakers are finding it necessary to reorganize their operations. The JFE Steel group has determined that integrating its electric furnace operations will enable the group to remain a viable producer of reinforcing steel bars, thereby helping to ensure sustainable growth going forward.

Among the group’s electric-furnace operations halted by the Great East Japan Earthquake, Tohoku Steel will not resume production but will retain its sales function. Products will be supplied to Tohoku Steel by JFE Bars & Shapes Kashima Works in Ibaraki Prefecture and Daiwa Steel Tobu Works in Saitama Prefecture, both of which manufacture reinforcing steel bars. All possible efforts will be made to transfer Tohoku Steel employees formerly involved with production to JFE Steel and other group companies.

JFE Bars & Shapes Sendai Works in Miyagi Prefecture, which also had to halt production, will restart its steel bar plant in mid-July and wire rod plant in early August. The steelmaking plant and slabbing mill will come online sequentially in mid-August, and overall production is expected to return to pre-earthquake levels by October.

Going forward, the JFE Steel group will consider other possible strategic consolidations to further optimize its production and sales structure.

JFE Bars & Shapes Corporation
Location:   5-11-3 Shimbashi, Minato-ku, Tokyo
President:   Mitsuoki Hino
Business:   Manufacture and sale of products including bars & shapes, steel bars and wire rods
Capital:   45,000 million yen
Employees:   937
Shareholder ratio:   JFE Steel Corporation – 100%
Daiwa Steel Corporation
Location:   1-6-20 Dojima, Kita-ku, Osaka
President:   Hideo Take
Business:   Manufacture and sale of steel bars for concrete reinforcement
Capital:   5,050 million yen
Employees:   313
Shareholder ratio:   JFE Steel Corporation – 94.7%
Metal One Corporation – 5.3%
Tohoku Steel Corporation
Location:   1-5-1 Minato, Miyagino-ku, Sendai, Miyagi Prefecture
President:   Itaru Hishinuma
Business:   Manufacture and sale of steel bars for concrete reinforcement
Capital:   300 million yen
Employees:   129
Shareholder ratio:   JFE Steel Corporation – 94.2%
JFE Shoji Trade Corporation – 3.3%
Marubeni-Itochu Techno Steel Inc. – 1.3%
Itochu Metals Corporation – 1.3%
Toyohira Steel Corporation
Location:   13-1-1 Hassamu-Jujo, Nishi-ku, Sapporo, Hokkaido
President:   Mikio Sasada
Business:   Manufacture and sale of steel bars for concrete reinforcement and manufacture of bridges
Capital:   450 million yen
Employees:   130
Shareholder ratio:   JFE Steel Corporation – 100%

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