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Basic Management Principles of the JFE Shoji Group
• To achieve sound and highly transparent corporate management through the strict implementation of corporate governance.
• To establish a corporate culture with excellent communication that is open and natural and which has the individual creative power of each employee at its foundation.
• To pursue maximization of Group corporate value, together with aiming to be a corporate group with clear existing values in both society and the market place.

We, JFE Shoji Trade Corporation, are the core business company of JFE Shoji Group, responsible for the core business of the group, which is steel and steel peripheral businesses. Though we mainly handle steel products, we have also expanded into a wide range of other businesses such as raw materials, chemicals, fuels, machinery. Our activities in these fields and our network have spread worldwide.
The JFE Shoji Group sets forth the management vision of "aiming to be a top-level company of excellence as a steel and iron trading firm." In JFE Shoji Group's second medium-term management plan (April 2009 – March 2012), with this management vision as the premise, the JFE Shoji Group is striving not only in terms of figures such as earnings strength and financial structure, but aims to be "a dynamic company with top level strength across all facets comprising the basic components as a corporation" set forth below.

[ Basic components as a corporation ]
• Each individual employee of the Group possesses freedom of thought and expression and the ability to carry out work creatively. Furthermore, a structure and climate which enables employees to deal with issues with energy and confidence.
• Ability to contribute with respect to shareholders, customers, regional society and employees as stakeholders.
• All Group employees are proud and happy to work at the JFE Shoji Group.
• Ability to continuously maintain sufficient personnel required to sustain continuous dynamic growth by means of education and training.

As a directly affiliated business company of JFE Steel, JFE Shoji Trade Corporation intends to further reinforce and expand the functions we have cultivated of "Sharing information links and strategies within the JFE Group", and a "Business structure with close customer ties". At the same time, while increasing the cohesion of the JFE Group, we look to further elevate the high performance standards of our business activities. Moving forward, we continue to aim higher and strive to expand earnings and maximize company value.

JFE Shoji Trade Corporation

Mikio Fukushima
President and CEO