Wheeling-Nisshin, Inc.
In June 1984, Nisshin Steel formed a joint venture with Wheeling-Pittsburgh Steel Corporation for the manufacture of galvanized and aluminized steel in the United States. The first production line went on stream in 1988, and a second line subsequently became operational in 1993. The company currently produces and sells 50,000 short tons of steel a month, and output continues to increase.

North Amercan Stainless L.P. (NAS)
In May 2000, Nisshin Steel made an agreement with North American Stainless L.P. (NAS) located in Kentucky, United States to supply technical assistance for the construction and operation of NAS's steelmaking facilities.

Nisshin Automotive Tubing LLC(NAT)
Aiming to capitalize on the global strategies of auto makers by providing high-quality automotive products and services directly where they are needed, Nisshin Steel, together with two Japanese trading companies, has decided to establish a company that will manufacture and sell stainless steel automotive tubing in North America. The company is located in Versailles, Kentucky, in the United States, and started commercial business and production in July 2005.


ACERINOX, S.A.
Founded in 1970, ACERINOX is a joint venture between Nisshin Steel, Nissho Iwai Corporation, and certain Spanish companies.

Benefiting from Nisshin Steel's expertise, ACERINOX expanded its operations from simple cold rolling to become a world-class, integrated stainless steel manufacturer.
Since the 1990s, the company has continued to improve and expand its operations with the support of Nisshin Steel. With a 11% stake in ACERINOX, Nisshin Steel is its principal shareholder.

Tubificio di Terni S.p.A.
In 1992, Nisshin Steel concluded a technical alliance with Tubificio di Terni, which is a subsidiary of the former Ilva S.p.A. and provides stainless steel pipe for automotive exhaust systems. With Nisshin Steel's support, Tubificio di Terni recorded a solid performance during the term under review and installed a second high-frequency welded-tube line .


Ningbo Baoxin Stainless Steel Co., Ltd.
In August 1996, Nisshin Steel concluded a basic agreement with two Japanese and two Chinese partners to construct cold-rolling facilities for 80,000 tons of stainless steel in the city of Ningbo, near Shanghai. The facilities became operational in the beginning of 1999. The venture has increased its annual production capacity to 600,000 tons to better respond to ever-growing stainless steel demand in China.

Chang Fu Stainless Steel Center (Suzhou) Co., Ltd.
Together with five Japanese and Chinese partners, Nisshin Steel established this center, which commenced

operations in July 1997 and whose goal is to meet demand in the Shanghai area for stainless steel and high-technology steel.

Ri Hong Stainless (Shanghai) Co., Ltd.
In June 2007, Nisshin Steel set up a stainless steel coil center in Shanghai with a view to better serving customers in the expanding Chinese market and to contributing to increased sales and stronger management bases of Ningbo Baoxin Stainless Steel Co., Ltd., its Chinese joint venture to cold roll stainless steel.

Tianjin Rihua Steel ProductsCo., Ltd.
Nisshin Steel holds a 10% equity stake in this project, which commenced operations in January 1997. The aim of Tianjin Rihua Steel Products is to stimulate market growth for high-value-added steel products.

ANS STEEL TUBES LIMITED
In August 2007, Nisshin Steel established a three-party joint to manufacture and supply steel tubes for the Indian automotive industry, in cooperation with Sumitomo Corporation and JBM Group, a leading auto component supplier of the country. The Company intends to utilize the venture to capture demand of the rapidly-growing Indian market.

Thainox Steel Limited
Nisshin Steel began its capital and technological support of this Thai venture in 1993, along with other investors from Japan, France, and Italy. Thainox Steel currently boasts an annual cold-rolled stainless steel production capacity of more than 160,000 metric tons.