Amount of “Capital Reserve” Reduced and Transferred to “Other Capital Surplus”
Oct. 02, 2012
Company name: Nippon Steel & Sumitomo Metal Corporation
Representative: Shoji Muneoka,
Representative Director, Chairman and CEO
Code number: 5401 (TSE, OSE, NSE, FSE and SSE)
Amount of “Capital Reserve” Reduced and Transferred to “Other Capital Surplus”
As announced in “Reduction of ‘Capital Reserve’ Amount to be Increased as a Result of Share Exchange, and Transfer of the Amount to ‘Other Capital Surplus’” dated July 30, 2012, Nippon Steel & Sumitomo Metal Corporation (the “Company”) has reduced the amount of “Capital Reserve” and transferred the said amount to “Other Capital Surplus” upon the effectuation of a share exchange with Sumitomo Metal Industries, Ltd. on October 1, 2012 (the “Share Exchange”), as follows:
Amount of Reduced Capital Reserve: 247,647,812,521 yen, equivalent to the amount of Capital Reserve which increased as a result of the Share Exchange
(Note 1) The specific amount of Capital Reserve which increased as a result of the Share Exchange was determined as 247,647,812,521 yen as a result of calculation in accordance with applicable rules (Article 39 of the Ordinance on Accounting of Companies), based on the market value of the Company’s shares delivered in consideration for the Share Exchange.
(Note 2) The reduction in the amount of Capital Reserve resulted in reducing the amount of Capital Reserve which increased as a result of the Share Exchange upon the effectuation thereof. Accordingly, the amount of Capital Reserve after reduction is 111,532,297,171 yen, same as the amount of the Company’s Capital Reserve immediately prior to the Share Exchange.
Contact: Public Relations Center, General Administration Div., Nippon Steel & Sumitomo Metal Corporation (Phone: +81-3-6867-2135 or 2146)
