Kobe Steel, Senior Managing Director Hiroya Kawasaki to be Promoted to the President

Kobe Steel announced on 1st Senior managing director Hiroya Kawasaki will be promoted to the president on April 1st. President Hiroshi Sato will take the post of chairperson and support the next president. For the present, earning position is hard, as like consolidated pretax losses for the first time in 11 years and non-dividend for the first time in 10 years. The Next President Kawasaki said, new system aims to maximize earnings, implement a growth strategy rapidly and target on combined sales of 3 trillion yen and on combined pre-tax, profits of 200 billion yen set on middle-long-term vision.