Nippon Steel Corporation and Sumitomo Metal Industries, Ltd. obtained approval at their respective annual shareholders' meetings held 26 June 2012 regarding the share exchange agreement and the merger agreement the companies executed on 27 April 2012. As a result, the companies will integrate their businesses and Nippon Steel & Sumitomo Metal Corporation will be formed on 1 October 2012, as initially planned.

Hereafter, the companies will endeavor to further expedite various preparations toward the integration and to achieve the management policies of the integrated company at an early stage by aggregating their resources.

Further, the medium-term management goals and major implementation measures and policies of the integrated company will be announced promptly after the business integration.