Nippon Steel Integrates Vessel Management Companies

Nippon Steel is accelerating restructuring of group companies. The firm announced on Friday to integrates Nippon Steel Logistics and Nippon Steel Transportation on January 2012. Nippon Steel Logistics acquires 100% ownership of Nippon Steel Transportation by exchange of shares, and carries out restructuring business institutions to be subsidiary in Kamaishi, Kimitsu, Nagoya, Hirohata, Yahata and Oita with each iron works. Nippon Steel consolidates domestic and overseas vessel. Integrated company’s consolidated sales is about 156 billion yen. The amount of employees is about 4800 peoples.

Both group companies entered into contraction of share exchange and business restructuring October 1, and set up restructuring preparation committee and kick around abstract context of business restructuring. New company plays out top runner technology, combines technology and know-how of yard operation in iron works and logistics and enhances cost competitive power.

Local subsidiaries are reorganized on April 2012. New company integrates Kimitsu business place of Nippon Steel Transportation to Kimitsu business place of Nippon Steel Logistics, and changes company name of Nippon Steel Transportation to Nippon Steel Logistics Yahata.

Nippon Steel Logistics was established in 1942, and operates logistics in Nippon Steel’s each iron works. The capital fund is 4 billion yen. The consolidated sales was 122.6 billion yen in the business year ending March 2011. Consolidated recurring profit was 4 billion yen. The amount of employees is 3,226 peoples.

Nippon Steel Transportation was established in 1942, and operates logistics and yard operation in mainly Yahata iron works of Nippon Steel. The capital fund is 500 million yen. The consolidated sales was 33.4billion yen in the business year ending March 2011. Consolidated recurring profit was 900 million yen. The amount of employees is 1,565 peoples.