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Aug. 03, 2015
Marubeni-Itochu Steel Inc.
Sumitomo Corporation

Integration of Domestic Steel Building Material Businesses

We hereby announce that Marubeni-Itochu Steel Inc. (MISI) (Head Office: Chuo-ku, Tokyo; President and CEO: Yasuo Matsuura) and Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and CEO: Kuniharu Nakamura) have agreed to integrate their domestic steel building material businesses. This agreement will become effective only upon the approval of the relevant authorities in Japan and abroad.

1. Companies and business categories involved
(i)    Marubeni-Itochu Techno Steel Inc. (MITS) (Head Office: Chiyoda-ku, Tokyo; President: Atsushi Hiramoto)
(ii)    Sumisho Tekko Hanbai Co., Ltd. (Head Office: Chuo-ku, Tokyo; President: Kiyotaka Kawasaki)

With regard to the three companies below, their respective steel building material businesses will be spun off and integrated together:

(iii)    Sumitomo Corporation Hokkaido Co., Ltd. (Head Office: Sapporo City, Hokkaido; President: Takayuki Doi)
(iv)    Sumitomo Corporation Tohoku Co., Ltd. (Head Office: Sendai City, Miyagi; President: Hideyuki Imayoshi)
(v)    Sumitomo Corporation Kyushu Co., Ltd. (Head Office: Fukuoka City, Fukuoka; President: Hiroaki Mizobuchi)

2. Objectives and aims of the business integration
While demand for domestic construction in Japan is currently growingdue  to infrastructure building in preparation for the 2020 Tokyo Olympic and Paralympic Games as well as urban redevelopment projects, it is recognized that the construction market will eventually become mature over the long term.
With such background, MISI and Sumitomo Corporation have reached an agreement to integrate their domestic steel construction material businesses with the aim of expanding service functionality for manufacturers and users.

The integrated company will direct its efforts toward reinforcing the particular strengths of each company’s business as well as leveraging the networks of the three integrated trading companies, namely, ITOCHU Corporation, Marubeni Corporation and Sumitomo Corporation, to mutually complement each other. Furthermore, through combining and integrating human resources, product and service lineups and networks, we will seek to better serve our stakeholders, including customers and employees.

Through the new steel building material business, we will also seek to accelerate recovery from the Great East Japan Earthquake, ensure the safety and security of local people and revitalize affected communities.

3. Overview of the integrated company
The integration will be achieved through a merger, with MITS as the surviving company.

(1) Name: Marubeni Itochu Sumisho Techno Steel Inc.

(2) Number of shares held by MISI: 2,940,000 (66.7%); and by Sumitomo Corporation: 1,470,000 (33.3%)

(3) Effective date of the merger: January 1, 2016 (subject to change)

(4) Representative: President and CEO Atsushi Hiramoto (current President and CEO of MITS)

(5) Head Office: Tokyo (current address of MITS)

(6) Scale: Consolidated sales of approx. 420 billion yen

(7) Consolidated number of employees: Approx. 450

(8) Overview of the companies and business categories to be integrated

Name : Marubeni-Itochu Techno Steel Inc.
Head Office : Otemachi Building, 1-6-1 Otemachi, Chiyoda-ku, Tokyo
Representative : Atsushi Hiramoto, President and CEO
Capital : 3 billion yen
Stockholder : Marubeni-Itochu Steel Inc. 100%
Establishment : May 1963
Offices : 16 in Japan
Name : Sumisho Tekko Hanbai Co., Ltd
Head Office : Harumi Triton Square Office Tower Z, 1-8-12 Harumi, Chuo-ku, Tokyo
Representative : Kiyotaka Kawasaki, President and CEO
Capital : 400 million yen
Stockholder : Sumitomo Corporation 100%
Establishment : January 1981
Offices : 4 in Japa
Name : Sumitomo Corporation Hokkaido Co., Ltd.
Head Office : Sumitomo Corporation/Fukamiya Odori Building, 2, Odori-nishi 8-chome, Chuo-ku, Sapporo City, Hokkaido
Representative : Takayuki Doi, President and CEO
Capital : 490 million yen
Stockholder : Sumitomo Corporation 100%
Establishment : April 2000
Name : Sumitomo Corporation Tohoku Co., Ltd.
Head Office : Sumitomo Seimei Sendai Building, 10-3, Chuo 4-chome, Aoba-ku, Sendai City, Miyagi
Representative : Hideyuki Imayoshi, President and CEO
Capital : 490 million yen
Stockholder : Sumitomo Corporation 100%
Establishment : April 2003
Name : Sumitomo Corporation Kyushu Co., Ltd.
Head Office : Hakata Kangen Building, 30-23, Hakataekimae 3-chome, Hakata-ku, Fukuoka City, Fukuoka
Representative : Hiroaki Mizobuchi, President and CEO
Capital : 2 billion yen
Stockholder : Sumitomo Corporation 100%
Establishment : October 2005


Corporate Communications Department,
Sumitomo Corporation

TEL:+81-3-5166-3100News Release Contact Form

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