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Kobe Steel to Open New Headquarters in China
03/25/2011 - Kobe Steel announces plans to open its China headquarters, Kobelco (China) Holding Co., Ltd., on April 1.
Kobe Steel, Ltd. announced plans to open its China headquarters — Kobelco (China) Holding Co., Ltd. — on April 1. The new company will be the first headquarters established in China by a Japanese integrated steelmaker.
Based in Luwan District, Shanghai, the wholly owned subsidiary of Kobe Steel is capitalized at US$50.14 million. Kobe Steel added US$50 million to the existing US$140,000 capital of Kobe Steel Consulting Co., Ltd. to form the new company. With this amount of registered capital, the company will be able to make direct investments in China.
Kobe Steel Group considers overseas sales — targeted at about 1.5 trillion yen — to be key to the group’s Medium- to Long-Term Vision, KOBELCO VISION "G," which aims to achieve consolidated sales of 3 trillion yen over the next five to ten years. To carry out this plan, the huge Chinese market is more important than ever. Kobe Steel's current sales of 200 billion yen from China are anticipated to more than double in the future.
In the Chinese market, which is anticipated to continue growing, Kobe Steel aims to increase its profitability by utilizing its comprehensive capabilities. With its China headquarters as its base, Kobe Steel plans to centralize financing and cash management, strengthen group governance, support group companies, and promote lateral communication within the Kobe Steel Group in response to the growing Chinese market.
In total, Kobe Steel currently has 31 companies in China, of which 16 are consolidated subsidiaries, and employs over 3,000 people. Each of its locations is anticipated to expand, and Kobe Steel is also considering other new locations.
The Chairman of the new Kobelco (China) Holding will be Hiroya Kawasaki, a Senior Officer at Kobe Steel that will also continue in his current position, and the President will be Hiroshi Umeda. The new China headquarters’ main activities will be finance initiatives for financing, mergers and acquisitions, and cash management; strengthening group governance and risk management; and supporting group companies in China.
Based in Luwan District, Shanghai, the wholly owned subsidiary of Kobe Steel is capitalized at US$50.14 million. Kobe Steel added US$50 million to the existing US$140,000 capital of Kobe Steel Consulting Co., Ltd. to form the new company. With this amount of registered capital, the company will be able to make direct investments in China.
Kobe Steel Group considers overseas sales — targeted at about 1.5 trillion yen — to be key to the group’s Medium- to Long-Term Vision, KOBELCO VISION "G," which aims to achieve consolidated sales of 3 trillion yen over the next five to ten years. To carry out this plan, the huge Chinese market is more important than ever. Kobe Steel's current sales of 200 billion yen from China are anticipated to more than double in the future.
In the Chinese market, which is anticipated to continue growing, Kobe Steel aims to increase its profitability by utilizing its comprehensive capabilities. With its China headquarters as its base, Kobe Steel plans to centralize financing and cash management, strengthen group governance, support group companies, and promote lateral communication within the Kobe Steel Group in response to the growing Chinese market.
In total, Kobe Steel currently has 31 companies in China, of which 16 are consolidated subsidiaries, and employs over 3,000 people. Each of its locations is anticipated to expand, and Kobe Steel is also considering other new locations.
The Chairman of the new Kobelco (China) Holding will be Hiroya Kawasaki, a Senior Officer at Kobe Steel that will also continue in his current position, and the President will be Hiroshi Umeda. The new China headquarters’ main activities will be finance initiatives for financing, mergers and acquisitions, and cash management; strengthening group governance and risk management; and supporting group companies in China.
In addition to launching its Chinese headquarters on April 1, Kobe Steel will also launch a Chinese-language home page to improve its global website. The Chinese site will introduce Kobe Steel's businesses and products, as well as social contributions in China. By actively providing information, Kobe Steel intends to increase the recognition of the Kobe Steel Group and raise its brand value in China.
