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2003 News Release
April 17 
April 17, 2003
Notice Regarding Revision of Tool Steels Prices
Tokyo, Japan, April 17, 2003 - Hitachi Metals, Ltd. today announced revision of tool steels prices, including high speed tool steels, hot working tool steels, and cold work tool steels, for shipments after July 1, 2003.
1. Background
Tool steels are widely used throughout the industrial sector in the manufacture of cutting tools such as endmills and drills, as well as in making dies, jigs and tools.As the leading manufacturer of tool steels, Hitachi Metals over a number of years has made efforts to ensure stable supply, expand inventories for prompt deliveries, and cater to small lot production.
Since 1995, however, product prices have consistently fallen against a backdrop of sharp yen appreciation, a shift in customer preferences for production bases toward South East Asia and China, and a persistent drop in domestic demand.
Under these conditions, the Company undertook a number of measures, including comprehensive rationalization of its production and sales processes, and other structural reforms to offset increased pressure on procurement costs. As cost pressures continue to mount, Hitachi Metals has decided to revise its product prices.
2.Details of Price Revision
| (1) | Period | |
| Shipments after July 1, 2003 | ||
| (2) | Price Increase Range | |
| High Speed Tool Steels (SKH51, 57, 40, Matrix series, and others) | 10% | |
| Hot Working Tool Steels (SKD61, 62, SKT4 series, plastic dies, and others) | 15% | |
| Cold Work Tool Steels (SKD11, SKS3, SKS93 series, and others) | 15% | |
| (3) | Scope of Application | |
| Direct shipment, point of sale, products for domestic and export sale |
Inquiries:
| Press Inquiries: | |
| Public Relations Office, Hitachi Metals, Ltd. | |
| Mr. Kobayashi Tel:+81-3-5765-4079 |
|
| Product Inquiries: | |
| Specialty Steel Company | |
| Mr. Shiratori Tel:+81-3-5765-4405 |
