Nippon Steel and Sumitomo Metal approve business integration

Nippon Steel and Sumitomo Metal approve business integration

Nippon Steel Corporation and Sumitomo Metal Industries Limited have obtained approval at their respective annual shareholders' meetings held regarding the share exchange agreement and the merger agreement that the companies executed on April 27th 2012.

As a result, notice is hereby provided that the companies will integrate their businesses and Nippon Steel & Sumitomo Metal Corporation will be formed on October 1st 2012, as initially planned.

Hereafter, the companies will endeavor to further expedite various preparations toward the integration and to achieve the management policies of the integrated company at an early stage by aggregating their resources.

Further, the medium term management goals and major implementation measures and policies of the integrated company will be announced promptly after the business integration.