Annual Report 2004 [PDF/1.1MB]

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Overseas Steel Business An Expanding Steel Business From Asia To Worldwide Participating In A Range Of Projects Bangkok Kuala Lumpur Singapore Jakarta Dongguan Qingdao Jiangyin Pinghu Kaohsiung Manila SOUTHEAST ASIA Kawasho's overseas steel processing centers NORTH AMERICA Tijuana Mexico Kawasho's overseas steel business interests are chiefly in importing raw materials for steel production, exporting steel and processed steel products and participating in overseas business projects. We import iron ore, coal and other raw materials for steel making and export JFE (formerly Kawasaki) Steel Corporation's products: these include flat rolled steel sheet (hot-rolled steel sheet, coldrolled steel sheet and galvanized steel sheet ), electrical steel sheet, tin mill products for cans, steel plate for shipbuilding, stainless steel sheet, steel pipes, semi-finished products, as well as materials for construction and civil engineering. In addition, we are actively involved in various projects in Asian countries, and entering into alliances with local firms to aggressively improve local economic conditions and future prospects. [ Korea ] In 1999, as part of its overseas strategy, J FE Steel Corporation invested in Dongkok Steel Mill Co., Ltd., of Korea, and then in 2001 invested in Hyundai HYSCO, which is part of the Hyundai Motor Company Group. In line with these efforts, by offering cooperation in areas such as distribution, Kawasho has strengthened its relationship with both companies while at the same time contributing to their sales. [ Malaysia ] In Malaysia we invested in Perusahaan Sadur Timah Malaysia (Perstima) Bhd., the country's only tin plate manufacturer, which we provide with a stable supply of raw materials for manufacturing tin plate used for food cans. We joined forces with Kuroda Precision Industries Ltd., to establish Kuroda Precision Industries (M) Sdn. Bhd., a company that manufactures highprecision metal dies used for compact motors in VCRs, air conditioners and other equipment. Heat exchanger pipes exported by K & I Tubular Corporation [ Thailand ] Together with J FE Steel Corporation and others, we jointly invested in Thai Tin Plate Manufacturing Co., Ltd., promoting favorable relations in that country through the manufacture and sale of tin plate. Kuala Lumpur City Center, Malaysia [ Philippines ] In August 2000, we established Kawasho Tube Philippines, Inc., a steel tube manufacturing and sales company. The company is concentrating its efforts on the sale of steel furniture and smalldiameter tubes for bicycles. 16
Domestic Steel Overseas Steel Terre Armée Civil Engineering Raw Materials Chemicals & Fuels Foods & General Materials Machinery Electronics Additional business ventures include an alliance with the trading company Itochu Corporation in March 2000. Together, we formed K & I Tubular Corporation with the aim of promoting export sales of special steel pipes. Overseas Steel Processing Centers Linked By A Network As in Japan, steel processing centers are a mainstay of our overseas operations. Our overseas steel processing center business began in 1975 with the establishment of Kawarin Enterprise Pte. Ltd., in Singapore. Presently, including Jiangsu Kawaden Steel Products Co., Ltd. in Jiangsu, China, the company has 11 overseas operations: four in China, Singapore, Thailand, Malaysia, Indonesia, the Philippines, Taiwan and Mexico. The main purpose of the steel processing centers is to supply Japanese electrical and automobile companies overseas with processed steel such as electrical steel sheet, flat rolled steel sheet, stainless steel and other essentials. In keeping with J FE Steel Corporation's overseas business strategies, we intend to link steel processing centers in the above countries via a network, promote sharing of steel inventory information and further boost efficiency of business development as we work towards building a sales organization that satisfies the require-ments of an expanding customer base. Zhejiang Kawaden Steel Products Co., Ltd. ( Pinghu City Zhejiang Province, China) Dongguan Kawasho & Kawadenji Steel Products Co., Ltd. (Guangdong Province, China) Qingdao Samkyung Kawasho Precision Steel Products Co.,Ltd. (Shandong Province, China) Central Metals (Thailand) Ltd. Kawasho Steel Processing Centre Sdn. Bhd. (Malaysia) Kawarin Enterprise Pte. Ltd. (Singapore) Major Products Handled Shipbuilding steel, thick steel plate, processed steel for ships and bridges, hot-rolled steel sheet, cold-rolled steel sheet, electrical steel sheet, coated steel sheet, steel plate, stainless steel, special steel, galvanized sheet, tin plate, steel pipes, special steel pipes, treated steel pipes, iron powder, hot charge, steel piles, wire, H-beam, lightweight shaped steel plate, regular shaped steel plate, reinforced products, columns, semi-finished steel products (slabs etc.), civil engineering products, construction materials, housing materials, other products, civil engineering, construction Kuo Gee Industrial Co., Ltd. (Kaohsiung, Taiwan) P.T. Kawasho Steel Processing Center Indonesia Kawasho Steel Philippines, Inc. Kawasho Steel de Mexico, S.A. de C.V. 17
Page 1 and 2: KAWASHO CORPORATION ANNUAL REPORT 2
Page 3 and 4: FINANCIAL HIGHLIGHTS Kawasho Corpor
Page 5 and 6: crease of 2,057 million. Recurring
Page 7 and 8: CORPORATE TOPICS August 2, 2004 Est
Page 9 and 10: Director : Tsutomu Yajima (currentl
Page 11 and 12: 2. Consolidation and reorganization
Page 13 and 14: REVIEWS OF OPERATIONS DOMESTIC STEE
Page 15: Domestic Steel Overseas Steel Terre
Page 19 and 20: Domestic Steel Overseas Steel Terre
Page 31 and 32: CORPORATE OFFICER (As of June 18, 2
Page 33 and 34: CONSOLIDATED BALANCE SHEETS Kawasho
Page 35 and 36: CONSOLIDATED STATEMENTS OF OPERATIO
Page 37 and 38: CONSOLIDATED STATEMENTS OF CASH FLO
Page 39 and 40: NOTES TO CONSOLIDATED FINANCIAL STA
Page 41 and 42: j. Leases The Companies lease certa
Page 43 and 44: 4. SHORT-TERM BORROWINGS AND LONG-T
Page 45 and 46: 6. ACCRUED RETIREMENT BENEFITS The
Page 47 and 48: The effective tax rate reflected in
Page 49 and 50: Future minimum lease payments as of
Page 51 and 52: (2) Commodities Millions of yen 200
Page 53 and 54: Thousands of U.S. dollars Steel Raw
Page 55 and 56: 15. LITIGATION The "Royal Palm Reso
Page 58 and 59: World Network WORLD NETWORK - 60 MA
Page 60 and 61: Singapore SINGAPORE BRANCH 3 Shento
Page 62: COMPANY DATA Name KAWASHO CORPORATI

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