In the three years since Metal Ones establishment in January 2003, the company consolidated its foundations under the three main pillars of its first Mid-term Consolidated Management Plan to benefit from the synergistic......In the three years since Metal Ones establishment in January 2003, the company consolidated its foundations under the three main pillars of its first Mid-term Consolidated Management Plan to benefit from the synergistic effect of the merger, placing priority on a smooth transition by harmonizing its organization and human resources. The three main pillars are Post Merger Integration, or PMI (reassessing functions and structures in addition to merging and restructuring Group companies) Business Process Integration/Innovation, or BPI (drastic operational reforms) and Business Model Creation for Growth. Fortunately, we were blessed by a global economic boom that could not have been predicted at the time of our founding. China was the driving force behind the rise in world crude steel production, from 970 million to 1.13 billion tonnes, and Metal Ones business expanded substantially. During this period, in 2005, we restructured our business departments into divisions in pursuit of dynamic, flexible management strategies and business activities. The following year, in 2006, we reorganized administrative divisions in an effort to attain even greater capabilities. Building on the solid foundations created under the first Mid-term Consolidated Management Plan, we went on to build Global Value Chains based on the dual pillars of Value Chain Strategies and Group Management Strategies under the second Mid-term Consolidated Management Plan, achieving a certain degree of success. Global crude steel production expanded to 1.34 billion tonnes in 2007, and China accounted for 36% (490 million tonnes) of this. There was a keen sense that demand for steel products was expanding in tandem with economic growth in emerging nations. In the previous year, 2006, the industry was shaken when the worlds top two steel companies merged to form Arcelor Mittal, a giant steelmaker with 120 million tonnes in annual crude steel production capacity. Tight supply and demand and rising raw material prices led to higher steel product prices, and Metal One continued to perform well. Problems with subprime mortgages in the United States led to what has been called a once-in-a-century global financial crisis following the collapse of Lehman Brothers in September 2008, which had repercussions for the real economy and resulted in a global recession that could be described as a depression. In the midst of these unprecedented environmental upheavals, we will develop our business under third Mid-term Consolidated Management Plan, which comprises two main pillars and two strategies. The two pillars are (1) value model development and (2) cocreating group management. As for the two strategies, there are survival strategies on one side and growth strategies to create future core businesses on the other, both supported by a resilient, flexible organizational structure. Effectively employing the global networks and wide-ranging business fields of its shareholding companies (Mitsubishi Corporation and Sojitz Corporation), Metal One marshals the capabilities of Group companies and innovates to provide capabilities, business models, and services that meet the needs of the times. Furthermore, we shall continually focus on increasing the satisfaction of domestic and overseas customers and business partners and strive to become the world’s leading integrated steel trading company by demonstrating an overwhelming market presence. With our Corporate Philosophy, formulated in January 2007, serving as a reference in all our activities, we will bolster our CSR efforts and internal controls with a focus on compliance and global environmental considerations. Metal One strives to be an excellent and sustainable corporation that contributes to and is respected by society.