Nakayama Steel Works, Ltd. hereby announces that the establishment procedures for the joint venture company, as previously disclosed in "Notice Regarding the Establishment of a Joint Venture with NIPPON STEEL CORPORATION and the Conclusion of a Memorandum of Understanding for a Business Alliance" dated May 9, 2025 and "(Progress of Disclosed Matters) Notice of Conclusion of Joint Venture Agreement Concerning the Establishment of a Joint Venture" dated November 26, 2025 have been completed as of April 1, 2026. In addition, the certain matters that were undetermined at the time of the previous disclosures have been finalized as described below. The updated parts are underlined.
Overview of the Newly Established Joint Venture Company: Name NN STEEL LLC; Job title and name of representative Representative Member Nakayama Steel Works, Ltd. Person Acting in its Capacity Hirotaka Okamura; Description of business Ownership and lease of the new electric arc furnace facilities and buildings necessary for the manufacture of steel slabs; Date of establishment April 1, 2026; Investment amount Approximately JPY 50 billion (JPY 55.7 billion in the case of a maximum investment of JPY 105.5 billion); Investment ratio NAKAYAMA STEEL WORKS, LTD.: 51%, NIPPON STEEL CORPORATION: 49%; Capital investment Electric arc furnace facilities and buildings; Total investment Approximately JPY 95 billion (maximum JPY 105.5 billion in consideration of price increases and exchange rate fluctuations); Capital investment will be made in stages according to the progress of capital investment, and the final total amount of capital investment is stated.
