- Nippon Steel Corporation
- Sumitomo Metal Industries, Ltd.
Nippon Steel Corporation (President: Shoji Muneoka) and Sumitomo Metal Industries, Ltd. (President: Hiroshi Tomono) have undergone merger reviews by the relevant authorities inside and outside of Japan for the business integration of the two companies scheduled for October 1, 2012. As we have already made known, the Japan Fair Trade Commission approved the integration by issuing a "Notification To the Effect That a Cease and Desist Order Will Not Be Issued" on December 14, 2011.
The Ministry of Commerce of the People's Republic of China notified that it will not prohibit the integration of the two companies in the "Notification of Review Decision." Thus, the two companies have obtained all approvals for the business integration by the relevant authorities inside and outside of Japan that require prior review.
We are making every effort to prepare for the business
integration, aiming to become "The Best Steelmaker with
World-Leading Capabilities." The integration is scheduled
to be fully consummated on October 1, 2012, after a merger
agreement is executed in April and such merger agreement is
approved at the two companies' respective shareholders'
meetings in June 2012.
distributed by | This press release was issued by Sumitomo Metal Industries Ltd. and was initially posted at http://www.sumitomometals.co.jp. It was distributed, unedited and unaltered, by noodls on 2012-03-19 09:16:51 AM. The issuer is solely responsible for the accuracy of the information contained therein. |