OREANDA-NEWS. June 27, 2012. Approval of Business Integration between Nippon Steel Corporation and Sumitomo Metal Industries, Ltd.  at Their Respective Annual Shareholders’ Meetings.

 Nippon Steel Corporation (President: Shoji Muneoka) and Sumitomo Metal Industries, Ltd. (President: Hiroshi Tomono) (collectively, the “Companies”) obtained approval at their respective annual shareholders’ meetings held today regarding the share exchange agreement and the merger agreement that the Companies executed on April 27, 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 1, 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.