OREANDA-NEWS. Kobe Steel, Ltd. announces that at its board of directors' meeting held, it decided to sell the shares issued by Nabtesco Corporation that Kobe Steel owns or contributes to a Retirement Benefits Trust, by way of Secondary Distribution of Shares by Nabtesco.

Details can be found in Nabtesco’s press release “Notice of Offering of Shares and Change in the Largest Major Shareholder.”

The sale price of the shares from Kobe Steel to the underwriters (Distribution Price) is to be determined between May 27, 2013 and May 30, 2013.

Kobe Steel will disclose as necessary the effect on sale of investment securities immediately after the decision of the price of the sales or shares.