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2005 News Release
February 9 
February 9, 2005
Restructuring of Group Companies
in Administrative Operations
—Aiming to increase overall Group profits by concentrating management resources—
| Tokyo, Japan, February 9, 2005—Hitachi Metals, Ltd. announced today plans to establish Hitachi Metals Solutions, Ltd. in a restructuring of Group companies that handle administrative operations including real estate, employee welfare, procurement and information systems. Hitachi Metals aims to increase overall Group profitability through the concentration of management resources that had been spread throughout the Group. |
1. Background
The Hitachi Metals Group has several independently managed companies that handle administrative operations including real estate, employee welfare, procurement and information systems. Since these Group companies have redundant businesses in many cases, it has become an important management priority to increase management efficiency in order to provide higher quality administrative business services.Hitachi Metals has decided to establish Hitachi Metals Solutions, Ltd. (hereinafter the “new company”) in a restructuring of Group companies that handle these administrative operations. The new company aims to enhance Group profitability as the comprehensive business solutions company of the Hitachi Metals Group, and also aim for greater business efficiency through the concentration of management resources that had been spread throughout the Group.
In the future, plans call for concentrating the administrative operations of approximately 100 companies in the Hitachi Metals Group at the new company, which is a shared services* subsidiary. In addition, the new company will support the consolidated operations of Hitachi Metals by aiming to further expand business scale by providing services outside the Hitachi Metals Group.
Hitachi Metals has focused efforts on restructuring to create a structure able to adapt to changes in the operating environment. Through the establishment of the new company, we will continue efforts to further strengthen our management structure.
2. Outline of Restructuring
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| Hitachi Metals Estate is to be the surviving company and absorb HMK in a merger. Hitachi Metals Trading's materials procurement and sales operations are to be spun off into Hitachi Metals Estate. System Mate is to be dissolved after transferring operations to Hitachi Metals Estate. A portion of Hitachi Metals' information systems operations is to be transferred to the new company. | |
3. Outline of New Company
| (1) Name: | Hitachi Metals Solutions, Ltd. |
| (2) Establishment: | April 1, 2005 |
| (3) Address: | 14-6, Kyobashi 3-chome, Chuo-ku, Tokyo |
| (4) Representative: | President Seiichi Ueda (Currently an officer and the manager of the Corporate Business Center at Hitachi Metals) |
| (5) Paid-in capital: | ¥250 million (wholly owned subsidiary of Hitachi Metals) |
| (6) Sales target: | ¥16 billion in the fiscal year ending March 31, 2006 ¥19 billion in the fiscal year ending March 31, 2007 |
| (7) Personnel: | Approximately 160 |
| (8) Offices: | Chuo-ku, Tokyo; Kumagaya, Saitama; Kita-Kyushu, Fukuoka |
| (9) Business: | Sale, leasing, management and brokerage of real estate Insurance sales and agency services, installation of transportation equipment Welfare services for the Hitachi Metals Group, temporary staffing Export/import and sales of metal materials, information systems Shared services |
| Inquiries: | ||
| Akio Minami Corporate Communications Office, Hitachi Metals, Ltd. Telephone: +81-3-5765-4079 Facsimile: +81-3-5765-8312 |
||
Reference
Outline of Hitachi Metals Estate, Ltd. (as of September 2004)
| (1) Establishment: | April 1983 |
| (2) Address: | 14-6, Kyobashi 3-chome, Chuo-ku, Tokyo |
| (3) Representative: | President Setsunobu Higashi |
| (4) Paid-in capital: | ¥250 million (wholly owned subsidiary of Hitachi Metals) |
| (5) Employees: | 42 (as of September 2004) |
| (6) Business: | Sale, leasing, maintenance and brokerage of real estate |
Outline of HMK, Ltd. (as of September 2004)
| (1) Establishment: | December 1977 |
| (2) Address: | 5200 Banchi, Mikajiri, Kumagaya, Saitama |
| (3) Representative: | President Tomio Takano |
| (4) Paid-in capital: | ¥20 million (wholly owned subsidiary of Hitachi Metals) |
| (5) Employees: | 102 |
| (6) Business: | Sale, leasing, maintenance and brokerage of real estate; insurance sales and agency services; installation of transportation equipment; welfare services for the Hitachi Metals Group, temporary staffing |
Outline of Hitachi Metals Trading Co., Ltd. (as of September 2004)
| (1) Establishment: | December 1949 |
| (2) Address: | 9-1, Hatchobori 2-chome, Chuo-ku, Tokyo |
| (3) Representative: | President Masanobu Sakae |
| (4) Paid-in capital: | ¥530 million (wholly owned subsidiary of Hitachi Metals) |
| (5) Employees: | 239 |
| (6) Business: | Sale of specialty steel, magnetic materials, electronic components, molds, construction materials; export/import and sale of metal materials |
Outline of System Mate, Ltd. (as of September 2004)
| (1) Establishment: | October 1997 |
| (2) Address: | 15-2, Ginza 1-chome, Chuo-ku, Tokyo |
| (3) Representative: | President Kazuyuki Sumita |
| (4) Paid-in capital: | ¥50 million (Kazuyuki Sumita 28.8%, Hitachi Metals 20%, Hitachi Metals Techno, Ltd. 10%, others) |
| (5) Employees: | 16 |
| (6) Business: | Development and sale of information systems |
