Kawasaki Steel and NKK established JFE Holdings, Inc., a joint holding company, marking the launch of the JFE Group on September 27, 2002. The JFE Group, with a corporate vision of contributing to society with the world......Kawasaki Steel and NKK established JFE Holdings, Inc., a joint holding company, marking the launch of the JFE Group on September 27, 2002. The JFE Group, with a corporate vision of contributing to society with the worlds most innovative technology, will establish a strong earnings base for the long term. We ask for your ongoing support as we meet the challenges of enhancing our organizational structure for long-term growth and development. All JFE Group executives and employees will faithfully adhere to the following Standards of Business Conduct in all facets of corporate activities. These standards were created to embody the Corporate Vision of the JFE Group and go hand-in-hand with the Corporate Values. Senior executives are to take the lead in communicating these standards to employees throughout the group and in creating effective systems and mechanisms to ensure adherence to corporate ethical standards. Senior executives shall be directly involved both in the resolution and implementation of measures to prevent the recurrence of any violations of these standards. They shall disclose information about violations in a timely and accurate manner both inside and outside the group, shall clarify the authority and accountability involved and shall deal rigorously with offenses.