Nisshin Steel announced November 27 that it has established a 100% subsidiary in Shanghai, China with a view to boosting its competitiveness in the market, which the Company regards very important for its Group.
With the founding of the subsidiary, Nisshin Steel aims to offer its Group's Chinese customers the same level of services as provided to their Japanese counterparts in terms of quality and lead times, and through trading products of Ningbo Baoxin Stainless Steel Co., Ltd., the Company intends to improve selling capabilities of the entire Group.
Following this development, market research and other relevant functions hitherto performed by the Company's Shanghai Representative Office will be shifted to the new subsidiary. |
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| The outline of the subsidiary |
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| 1.Name:Tsukiboshi (Shanghai) Steel Trading Co., Ltd. |
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Address: |
Shanghai Maxdo Centre 3208-3210, 8 Xing Yi Road,
Hongqiao Development Zone, Shanghai 200336 China |
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Phone:(86-21) 5208 -0736 Fax: (86-21) 5208-0639 |
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<The same address and phone number as its present Shanghai Representative Office> |
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| 2.Main business: |
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Sales of stainless steel products and auxiliary work |
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Market research, market development and collection of technical information (currently undertaken by the Shanghai Representative Office) |
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| 3.Paid-in capital:US$920,000 |
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| 4.Management: ( )= positions at Nisshin Steel |
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Chairman of the Board: Fumio Oda (Director and Managing Executive Officer) |
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President: Kinya Omura (General Manager of Shanghai Representative Office) |
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| 5.Number of employees:Six |
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| 6.:Start-up of business:December 1, 2006 |
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