Annual Report 2004 [PDF/1.1MB]

(3) Establishment of parent company
A general meeting of the Company's shareholders held on June 18, 2004 resolved that the Company will establish a parent
company named "JFE Shoji Holdings Inc." effective August 2, 2004 through a transfer of shares and that the Company will become
its wholly-owned subsidiary.
Purpose
In preparing for the future management integration and reorganization with NKK Trading Inc., the Company has decided to adopt
the legal company form of pure holding company, which is suitable for clarifying the authority and responsibility of management
and for responding rapidly and appropriately to changes in the business environment.
Outline of the Resolution for Share Transfer
An outline of the resolution for the share transfer is as follows:
1 Date of share transfer
August 2, 2004
2 Number of shares of the parent company issued for the stock transfer
Common stock
Preferred stock
235,365,187 shares
60,000,000 shares
3 Share transfer ratio
Common stock
Preferred stock
Shares of the Company
Shares of
the parent company
1 : 1
1 : 1
4 Share capital and additional paid-in capital of the parent company
Share capital: ¥20,000 million ($189,233 thousand)
Additional paid-in capital: The amount of net assets of the Company on the share transfer date reduced by the above amount
of share capital.
57