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Fiscal 2001 News
NKK, Sumitomo Heavy and Hitachi Zosen to Fully Integrate Steelworks Plant & Equipment Engineering Departments in JP Steel Plantech

November 26, 2001

TOKYO -- NKK Corporation, Sumitomo Heavy Industries, Ltd. and Hitachi Zosen Corporation have agreed to fully integrate their steelworks plant and equipment engineering departments in JP Steel Plantech Co. (JSP) in April 2002.

The three firms agreed to pursue a broad alliance in the field of steelworks plant and equipment this past February. They took the first step in March, when they jointly established JSP to integrate their steelworks plant and equipment sales departments. The new agreement will fully integrate their entire operations in this field.

The steelworks plant and equipment market has become fiercely competitive amid shrinking demand and the emergence of mega-sized plant construction companies overseas. In response, the three partners decided to integrate their engineering departments a year ahead of their initial plan, aiming to mutually strengthen their sales, technology and cost competitiveness as quickly as possible.

All three partners have long track records and strong reputations in the steelworks plant and equipment engineering markets both in Japan and overseas:

# NKK provides customers worldwide with products including ironmaking and steelmaking plants, strip processing lines, long products rolling mills and more. It also boasts expertise in new-generation environmental technologies.

# Sumitomo Heavy Industries offers some of the world's best technology in steelmaking, plate and sheet processing and bar and section rolling mills. It sells a range of continuous casters, skin pass mills, tension levelers and bars and wire rods rolling mills to customers worldwide.

# Hitachi Zosen offers state-of-the-art plants and equipment for ironmaking, steelmaking and bars and shapes rolling. It has built sintering plants, pelletizing plants, continuous casters and section rolling mills worldwide.

JSP, drawing on the synergies of these fully integrated operations, expects to build a strong presence in the global market by responding quickly to diverse customer needs with superior products and engineering services.

Profile of JP Steel Plantech Co.

JP Steel Plantech Co.

JP Steel Plantech Co.

Established: March 8, 2001

Consolidation: April 1, 2002

Location of operations to be consolidated:
Tokyo and Kanagawa prefectures

Capital: \1 billion (after consolidation)

NKK 34%
Sumitomo Heavy Industries 33%
Hitachi Zosen 33%

Yoshiyuki Fujiwara
(concurrently Vice President and Director, Plant Engineering Division, NKK)

Employees: Approx. 180 (after consolidation)

Annual sales target: Approx. \24 billion

Major businesses:
Marketing, sales and engineering services for steelworks plant and equipment in Japan and overseas

# # #

For further information, please contact:

Mr. Hirohide Yamaoka, NKK Corporation
Tel: +81-3-3217-2138

Mr. Akira Akahori, Sumitomo Heavy Industries, Ltd.
Tel: +81-3-5488-8219

Mr. Yoshihiro Kawai, Hitachi Zosen Corporation
Tel: +81-3-3217-8418

Mr. Uichi Yamashita, JP Steel Plantech Co.
Tel: +81-3-5461-2808