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News Release

JFE Steel Corporation

JFE Steel Group Advances Plan to Integrate Electric Furnace Operators

Tokyo --- JFE Steel Corporation announced today the details of a merger plan first announced on May 31 under which four group companies engaged in production using electric furnaces—JFE Bars & Shapes Corporation (surviving company), Daiwa Steel Corporation, Tohoku Steel Corporation and Toyohira Steel Corporation—will be merged into a new company, JFE Bars & Shapes Corporation, on April 1, 2012.

The new JFE Bars & Shapes is expected to be a wholly owned subsidiary of JFE Steel.

Hiroshi Nomura, currently a vice president of JFE Steel, will serve as president. The company will be based at the current headquarters of JFE Bars & Shapes at 5-11-3 Shimbashi, Minato-ku, Tokyo.

JFE Steel Group to Integrate its Electric Furnace Operators (May 31, 2011)

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