Apr. 01, 2019
Metal One Corporation
Establishment of Metal One Sumisho Tubular Products, an Integrated Company of Domestic Tubular Products Business Operations, by the Sumitomo Corporation Group and the Metal One Group
As stated in the news release “Announcement of the Date of the Integration of Domestic Tubular Products Business Operations between the Sumitomo Corporation Group and the Metal One Group” dated December 27, 2018, Sumitomo Corporation (Head Office: Chiyoda-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”) established Metal One Sumisho Tubular Products Co., Ltd. (hereinafter, “Metal One Sumisho Tubular Products”) on April 1.
Metal One Sumisho Tubular Products will take full advantage of the managerial resources developed by both Groups, enhance its functions and expertise while leveraging the integrated power of each Group, and focus its efforts on meeting the demands of stakeholders in the market.
|Outline of the new integrated company|
|Trade name||Metal One Sumisho Tubular Products Co., Ltd.|
|Head Office||Shin-Tokyo Building 5F, 3-3-1 Marunouchi, Chiyoda-ku, Tokyo
Note: Scheduled to relocate in May 2019.
|Representatives||Norio Naito, Representative Director, Chairman
Tsuyoshi Oikawa, Representative Director, President and CEO
|Capital||1.3 billion yen|
|Voting rights ratio||Sumitomo Corporation: 50%; Metal One: 50%|
|Number of employees||Around 890|
|Sales size||Around 190 billion yen|
■ 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’”.