Mitsubishi Corp Unimetals to Transfer Special Steel Business to Metal One

Mitsubishi Corporation Unimetals, Tokyo based metal dealer and Mitsubishi Corporation’s wholly owned subsidiary, plans to transfer its special steel product sales business to Metal One Specialty Steel Corporation, Osaka based special steel dealer, on December 1. Mitsubishi Corporation Unimetals is now regarded as a core company to trade nonferrous metal products in Mitsubishi Corp. Group. Mitsubishi Corporation Unimetals can focus management resources on nonferrous metal businesses by transferring special steel business.

Mitsubishi Corporation Unimetals was integrated with Mitsubishi Shoji Light Metal Sales Corporation, a previous subsidiary of Mitsubishi Corp. to trade aluminium products, in 2010 and the role as a nonferrous metal trading company was strengthened.

Meanwhile, Mitsubishi Corporation Unimetals has dealt special steels for bearing, special steel alloys, stainless steel and free-cutting special steels under the special steel business unit. Especially for special steels for automotive bearings, the company has established a supply chain including processing service in China to delivery bearing steels to the customers’ global bases. The business unit has also dealt steel plate, steel sheet, construction materials, joints and valves.

Metal One Specialty Steel Corporation is Metal One’s 100% subsidiary. Metal One is Japanese major steel trading firm jointly operated by Mitsubishi Corp. and Sojitz Corporation. Metal One Specialty Steel sells structural steels, stainless steels, heat resistant steels and super alloys. Capital fund is 500 million yen. Current employee number is around 300. Annual net sales totaled 123.1 billion yen in fiscal 2010 ended in March 2011.