Nisshin Steel Appoints New President

Nisshin Steel announced on Thursday the director Toshinori Miki, 60 will assume the president on April 1. The president Hideo Suzuki, 65 will be the chairman of the board. Mr. Miki has spent the entire career in Nisshin Steel as Mr. Suzuki while the major shareholder of Nippon Steel sent presidents of Nisshin Steel before.

Mr. Miki has assumed manager positions of coated steel making plants including Toyo plant and Sakai plant. He was named top of Nagoya branch in 2008 and serves in sales management at headquarters since 2010.

Mr. Suzuki was appointed as the president in April 2006. He expanded the production and sales of the high valued original products including zinc-aluminium-magnesium coated steel, ZAM while he expanded the offshore activity. He decided to invest in Malaysian stainless cold rolling joint venture with Acerinox of Spain. He also tried consolidation with Nippon Steel & Sumikin Stainless Steel. However, Japanese antitrust agency prevented the attempt.

Mr. Suzuki launched special program to improve the profitability after the firm posted losses for 2 years through fiscal 2009 ended March 2010. Mr. Suzuki passes the management to younger Mr. Miki when the firm posts profit for fiscal 2010.