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Aug. 06, 2018
Sumitomo Corporation
Metal One Corporation

Agreement Concluded on the Integration of Domestic Tubular Products Business Operations between the Sumitomo Corporation Group and the Metal One Group

We are pleased to announce that Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) and Metal One Corporation (Head Office: Chiyoda-ku, Tokyo; President and Chief Executive Officer: Shuichi Iwata; hereinafter, “Metal One”) have agreed to integrate the domestic tubular products business operations conducted by the two companies and those under their control on an equal basis.

The business operations are slated to be integrated in January 2019, with the specific integration date, which is subject to the acquisition of the necessary permits from the related authorities in Japan and abroad, to be announced when it is determined.



1. Purpose of the business integration

The domestic tubular products market is undergoing change at an increasingly rapid pace. In these circumstances, the two companies have decided that the best option for their business partners, fellow workers, and all other stakeholders could be to consolidate their managerial resources to pursue sustainable growth while making use of the strengths of their respective groups.

The new company to be established by the integration will work to leverage to maximum effect the managerial resources inherited from the two companies, further improve their functions and expertise, and demonstrate more capabilities to meet the requests of those related to the market.

2. Outline of the integration
1) Method
The tubular products business to be split from the Sumitomo Corporation Group and the tubular products business conducted by SC Pipe Solutions Co., Ltd. will be integrated with the tubular products business to be split from the Metal One Group and the tubular products business conducted by Metal One Pipe & Tubular Products Inc. on an equal basis. In consideration of the related factors, including the permits and approvals to be obtained for the integration, Metal One Pipe & Tubular Products Inc. will be the surviving company.
2) Schedule
(a) Conclusion of the integration agreement: August 6, 2018 (already concluded today)
(b) Actual integration: January 2019 (Planned)
(i) Outline of the new company to be established by the integration (Planned)
Trade name TBD
Representative To be determined through discussions by the related companies
Capital 500 million yen
Capital 500 million yen
Voting rights ratio  Sumitomo Corporation: 50%
Metal One: 50%
Number of employees Around 890
Sales size  Around 190 billion yen
(ii) As for other matters to be determined, the details will be announced, as necessary, when they are decided.

3. Companies and business operations to be integrated
The Sumitomo Corporation Group:
(1) SC Pipe Solutions Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President and Chief Executive Officer: Yuji Katagiri; hereinafter, “SC Pipe Solutions”)

For the following four companies, only the domestic tubular products business will be split from them for the integration. (Hereinafter, “Business to be split from the Sumitomo Corporation Group.”)
(2)  Sumitomo Corporation
(3)  Sumitomo Corporation Hokkaido Co., Ltd. (Head Office: Sapporo-shi, Hokkaido; President: Hiroshi Ishizuka; hereinafter, “Sumitomo Corporation Hokkaido”)

(4)

Sumitomo Corporation Tohoku Co., Ltd. (Head Office: Sendai-shi, Miyagi; President: Tsutomu Morikawa; hereinafter, “Sumitomo Corporation Tohoku”)
(5) Sumitomo Corporation Kyushu Co., Ltd. (Head Office: Fukuoka-shi, Fukuoka; President: Tsuneaki Maeda; hereinafter, “Sumitomo Corporation Kyushu”)
  
The Metal One Group:
(1) Metal One Pipe & Tubular Products Inc. (Head Office: Minato-ku, Tokyo; President and Chief Executive Officer: Norio Naito; hereinafter, “Metal One Pipe & Tubular Products”)

For the following three companies, only the domestic tubular products business will be split from them for the integration. (Hereinafter, “Business to be split from the Metal One Group.”)
(2) Metal One
(3) Metal One Nishinihon Corporation (Head Office: Hiroshima-shi, Hiroshima; President and Chief Executive Officer: Takehiro Honda; hereinafter, “Metal One Nishinihon”)
(4) Metal One RYOWA Corporation (Head Office: Kurashiki-shi, Okayama; President. Director: Reki Nagao; hereinafter, “Metal One RYOWA”)




(Reference materials): Outline of the two companies and the related companies under their control

Trade name : Sumitomo Corporation
Head office : Harumi Island Triton Square Office Tower Y, 1-8-11 Harumi, Chuo-ku, Tokyo
Representative : Masayuki Hyodo, Representative Director, President and Chief Executive Officer
Business description : Domestic sales of products and services in a range of industrial fields, export and import operations, intermediary trade, business investments in and outside Japan, and others  
Capital : 219.3 billion yen
Shareholders : The Master Trust Bank of Japan, Ltd. (trust account), Japan Trustee Services Bank, Ltd. (trust account),

Liberty Programming Japan, LLC, JP Morgan Chase Bank, Sumitomo Life Insurance Company, and others

Establishment : December 24, 1919
Fiscal year-end : March 31
Number of employees 5,261 (As of March 31, 2018)
Sales bases 22 in Japan and 108 outside the country (As of June 1, 2018)


Trade name : SC Pipe Solutions Co., Ltd.
Head office : Sumitomo Corporation Takebashi Building, 1-2-2 Hitotsubashi, Chiyoda-ku, Tokyo
Representative : Yuji Katagiri, President and Chief Executive Officer
Business description : Processing and sale of steel and aluminum tubes and associated products
Capital : 843 million yen
Shareholder : Sumitomo Corporation (100%)
Establishment : November 27, 1981
Fiscal year-end : March 31
Number of employees 456 (As of July 1, 2016)
Sales bases 19


Trade name : Sumitomo Corporation Hokkaido Co., Ltd.
Head office : Sumitomo Corporation/Fukamiya Odori Building, 8-2 Odori-nishi, Chuo-ku, Sapporo-shi, Hokkaido
Representative : Hiroshi Ishizuka, President
Business description : Metal, construction, materials, information, electricity, machinery, facilities, communications, energy, agriculture and fisheries, chemicals, and other goods
Capital : 490 million yen
Shareholder : Sumitomo Corporation (100%)
Establishment : April 1, 2000
Fiscal year-end : March 31
Number of employees 35
Sales bases Two


Trade name : Sumitomo Corporation Tohoku Co., Ltd.
Head office : Sendai Capital Tower 15F, 4-10-3 Chuo, Aoba-ku, Sendai-shi, Miyagi
Representative : Tsutomu Morikawa, President
Business description : Metal, mechatronics, energy, agriculture and fisheries, chemicals, construction materials, and others
Capital : 490 million yen
Shareholder : Sumitomo Corporation (100%)
Establishment : April 1, 2003
Fiscal year-end : March 31
Number of employees 49
Sales bases Two


Trade name : Sumitomo Corporation Kyushu Co., Ltd.
Head office : Hakata Kangen Building, 3-30-23 Hakataekimae, Hakata-ku, Fukuoka-shi, Fukuoka
Representative : Tsuneaki Maeda, President
Business description : Metal, mechatronics, information, agriculture and fisheries, chemicals, construction materials, textiles, and others
Capital : 2 billion yen
Shareholder : Sumitomo Corporation (100%)
Establishment : October 1, 2005
Fiscal year-end : March 31
Number of employees 110
Sales bases Five


Trade name : Metal One Corporation
Head office : JP Tower, 2-7-2, Marunouchi, Chiyoda-ku, Tokyo
Representative : Shuichi Iwata, President and Chief Executive Officer
Business description : Handling of various tubular products
Capital : 100 billion yen
Shareholder : Mitsubishi Corporation (60%) and Sojitz Corporation (40%)
Establishment : January 6, 2003
Fiscal year-end : March 31
Number of employees : 1,134 (As of April 1, 2018)
Sales bases : 25 in Japan and 35 outside the country


Trade name : Metal One Pipe & Tubular Products Inc.
Head office : Shin-Tamachi Building 5F, 5-34-6 Shiba, Minato-ku, Tokyo
Representative : Norio Naito, President and Chief Executive Officer
Business description : Sale of tubular products, valves, joints, machines, and others Cutting of steel pipes and installation of tubular products and machines
Capital : 500 million yen
Shareholder : Metal One Corporation (100%)
Establishment : April 1, 2011
Fiscal year-end : March 31
Number of employees : 382
Sales bases : 25


Trade name

: Metal One Nishinihon Corporation
Head office : Hiroshima Park Building 8F, 3-7-5 Otemachi, Naka-ku, Hiroshima-shi, Hiroshima
Representative : Takehiro Honda, President and Chief Executive Officer
Business description : Handling of various tubular products
Capital : 300 million yen
Shareholder : Metal One Corporation (100%)
Establishment : July 1, 2018
Fiscal year-end : March 31
Number of employees : 84
Sales bases : 12


Trade name : Metal One RYOWA Corporation
Head office : 6-12-1 Minamise, Kurashiki-shi, Okayama
Representative : Reki Nagao, President. Director
Business description : Cutting and sale of steel plates and tubes
Capital : 400 million yen
Shareholder : Metal One Corporation (100%)
Establishment : April 1, 1969
Fiscal year-end : March 31
Number of employees 103 (As of April 2018)
Sales bases 19


 

■ Sumitomo Corporation’ s Material Issues The Sumitomo Corporation Group has positioned “Six Material Issues to Achieve Sustainable Growth with Society” as important factors in developing business strategies and in the decision-making processes for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This latest project will contribute especially to “Contributing to the Development of Local Communities and Industries” and “Providing Diverse ‘Accessibility’”.

 

 

 


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