2021-11-01
JFE Steel Corporation
JFE Mineral Co., Ltd.
Mizushima Ferroalloy Co., Ltd.
JFE Material Co., Ltd.
JFE Steel Corporation announced today that it will integrate three wholly owned subsidiaries—JFE Mineral Co., Ltd., Mizushima Ferroalloy Co., Ltd., and JFE Material Co., Ltd.—by around April 1, 2022.
In the growing field of advanced materials, JFE Steel has determined that the three firms must focus their resources strategically in order to respond to market needs faster and more suitably. Concurrently, in the fields of mineral resources, ferroalloys and steelmaking, declining demands in the Japanese market will require the companies to respond flexibly.
Until now, each of the companies has relied on its own attributes and characteristics to develop business. In light of going changes and new needs in the market, however, the integration will enable the firms to achieve greater flexibility, agility and efficiency by combining their scale and capabilities in technology, sales, personnel and resources.
The new company will aggressively deploy its integrated resources to pursue growth in advanced materials. It also is expected to enhance earnings in its mineral resources, ferroalloy and steelmaking businesses, including by securing low-cost raw materials, expanding overseas sales channels and investing in labor savings and other measures to improve profits.
JFE Steel is confident that the integration of these wholly owned subsidiaries will contribute to the company’s overall competitiveness in the medium to long term.
Further details about the new company will be announced once plans are finalized.
JFE Mineral Co., Ltd.
| Businesses | Mining, processing and sale of mineral resources (limestone, dolomite, silica stone, etc.) and processing and sale of iron and steel slag products, advanced materials products, etc. |
|---|---|
| Head office | 8-2, Shiba 3-chome, Minato-ku, Tokyo, Japan |
| President | Teruhiro Saito, |
| Sales | 74,226 million yen (fiscal year ended March 2021) |
| Capital | 2,000 million yen |
| Employees | 840 (end-March 2021) |
| Ownership | JFE Steel Corporation – 100% |
Mizushima Ferroalloy Co., Ltd.
| Businesses | Production and sale of manganese alloys and boron nitride |
|---|---|
| Head office | 1-1 Kawasakidori Mizushima, Kurashiki-shi, Okayama, Japan |
| President | Hiroshi Sekiguchi |
| Sales | 29,643 million yen (fiscal year ended March 2021) |
| Capital | 1,257 million yen |
| Employees | 204 (March 2021) |
| Ownership | JFE Steel Corporation – 100% |
ＪＦＥマテリアル株式会社の概要
| Businesses | Manufacture and sale of chrome alloys and recovery of valuable metals |
|---|---|
| Head office | 2-9-38 Shosei-machi, Imizu, Toyama, Japan |
| President | Kenji Oshima |
| Sales | 9,653 million yen (fiscal year ended March 2021) |
| Capital | 450 million yen |
| Employees | 207 (end March 2021) |
| Ownership | JFE Steel Corporation – 100% |
For more information about this release, please contact:JFE Steel Corporation
