Social Commitment

Our business activities-every aspect of which is geared toward the realization of our corporate philosophy of contributing to society with the world's most innovative technology-are imbued with the spirit of our standard of conduct based on "a challenging spirit, flexibility, sincerity." Management and staff of the JFE Group are all duty-bound to observe the principles of sound corporate conduct.

We encourage local community involvement, international exchange and other forms of social contribution. Of note, we have implemented a commendation program for current staff and their families, as well as retired employees, who have made a considerable impact through volunteer work or other charitable pursuits. In the period under review, 11 current and past employees were presented with certificates for their energetic and long-time commitment to such endeavors as sports promotion, community movements and social welfare campaigns.

Other community-oriented efforts by the JFE Group include projects undertaken through the JFE 21st Century Foundation, which was originally established as the Kawasaki Steel 21st Century Foundation in 1990. The foundation supports technology research at universities, provides financial aid for events in regions where the Group's steelworks are located, and produces steel-related educational materials for universities and high schools at no cost to the academic institutions. Access to these materials is also possible via the foundation's web site at http://www.jfe-21st-cf.or.jp.

Every allocation of funds is important, but the foundation is particularly enthusiastic about technology research at universities. Between 1991 and 2002, the foundation presented universities with about ¥440 million and facilitated 217 projects. In the year ending March 31, 2004, the foundation plans to raise its support from the current 40 million for 20 projects to 50 million for 25 projects.