Japanese major steel trading company, Metal One Corporation reorganizes Russian office in Moscow into local subsidiary as early as in April. The firm tries to cover higher steel demand under economy growth in Russia and eyes potential steel processing business.The incorporation enables trading in local currency, credit trading and stock sales in Russia. Metal One tries to increase steel trading for automobile and gas field development when Japanese automobile makers are increasing output and major energy development projects are ongoing in Russia. The firm also tries to increase trading for food and building material in cooperation with Russian offices of parents companies of Mitsubishi Corporation and Sojitz Corporation. Metal One will increase local employees of Russian office from current 10 persons or more after the incorporation. Metal One focuses on offshore business expansion to meet steel demand growth in offshore market. The firm opened Vietnamese subsidiary in June 2011.
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