Annual Report>2005>Major Consolidated Subsidiaries and Equity Method Affiliates

MAJOR CONSOLIDATED SUBSIDIARIES AND EQUITY METHOD AFFILIATES

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(As of March 31, 2005)
Name Paid-in
Capital**
Main Business
Operations
Voting
Shares
(%)
JFE Steel Corporation 239,644 Steel Business 100.0
JFE Precision Co., Ltd.
3,400 Resources/Raw Materials 100.0
JFE Mineral Co., Ltd.
2,000 Resources/Raw Materials 96.5
Mizushima Ferroalloy Co., Ltd.
1,257 Resources/Raw Materials 93.8
JFE Refractories Co., Ltd.
948 Resources/Raw Materials 98.7
NKK Steel Sheet & Strip Corp.
45,000 Electric Furnaces/
Shape Steel Makers
100.0
Daiwa Steel Corp.
5,050 Electric Furnaces/
Shape Steel Makers
73.6
Touhoku Steel Co., Ltd.
300 Electric Furnaces/
Shape Steel Makers
87.5
Toyohira Steel Corp.
1,560 Electric Furnaces/
Shape Steel Makers
51.3
JFE Welded Pipe Manufacturing Co., Ltd.
22,700 Steel Product Processing/
Processed Products
99.7
JFE Metal Products & Engineering Inc.
5,000 Steel Product Processing/
Processed Products
94.9
JFE Galvanizing Co., Ltd.
5,000 Steel Product Processing/
Processed Products
98.4
JFE Container Co., Ltd.
2,365 Steel Product Processing/
Processed Products
54.4
JFE Pipe Fitting MFG. Co., Ltd.
958 Steel Product Processing/
Processed Products
82.4
River Steel Co., Ltd.
900 Steel Product Processing/
Processed Products
90.0
Nippon Chuzo K.K.*
2,102 Steel Product Processing/
Processed Products
42.2
JFE Kozai Corp.
488 Distribution/Processing 94.5
JFE Civil Engineering & Construction Corp.
2,300 Facilities & Maintenance/
Construction
100.0
JFE Mechanical Co., Ltd.
1,700 Facilities & Maintenance/
Construction
93.8
JFE Electrical & Control Systems, Inc.
400 Facilities & Maintenance/
Construction
100.0
Kawatetsu Bridge and Steel Structure Corporation
1,500 Steel Structures/
Temporary Construction
100.0
Gecoss Corp.*
4,397 Steel Structures/
Temporary Construction
39.4
JFE Logistics Corp.
4,000 Logistics/Contracting 83.7
JFE Systems, Inc.
1,390 Information Systems 67.7
Exa Corp.*
1,250 Information Systems 49.0
Fukuyama Joint Thermal Power Co., Ltd.*
5,000 Electric Power/Utilities 50.0
Mizushima Joint Thermal Power Co., Ltd.*
4,000 Electric Power/Utilities 50.0
K.K. JFE Sanso Center*
90 Electric Power/Utilities 40.0
JFE Chemical Corp.
6,000 Chemicals 100.0
JFE Life Corp.
2,000 General Services/
Assets Management
99.9
JFE Techno-Research Corporation
100 Intellectual Property & Technology Information/
Inspection & Analysis
100.0
JFE Shoji Holdings, Inc.*
20,000 Trading Company 39.6
NKK U.S. Corporation
US$347,446
thousand
Investment and Loan 100.0
NKK Capital of America, Inc.
US$208,869
thousand
Group Finance 100.0
California Steel Industries, Inc. [CSI] (USA)*
US$10,000
thousand
Steel Product 50.0
Thai Coated Steel Sheet Co., Ltd. [TSC] (Thailand)
THB2,206
million
Steel Product 81.4
Thai Cold Rolled Steel Sheet Public Co., Ltd. [TCR] (Thailand)*
THB10,703
million
Steel Product 38.4
Philippine Sinter Corporation [PSC] (Philippines)
PHP485
million
Resources/Raw Materials 100.0
JFE Engineering Corporation 10,000 Engineering Business 100.0
JFE Koken Corporation
3,494 Civil Construction/
Pipeline Construction
100.0
JFE Plant & Service Corporation
1,360 Machinery Construction/
Plant Construction
100.0
JFE Kankyo Corp.
650 Environment & Recycling 80.0
JP Steel Plantech Co.*
1,955 Machinery Construction/
Plant Construction
25.6
Universal Shipbuilding Corporation*
25,000 Shipbuilding 50.0
Nippon Chutetsukan K.K.*
1,855 Manufacture and Sale of
Water Pipes and Gas Pipes
29.3
JFE Urban Development Corporation 3,000 Urban Development Business 100.0
Kawasaki Microelectronics, Inc. 5,046 LSI Business 99.7
JFE R&D Corporation 10 R&D Operations 100.0
JFE Finance Corporation 50 Group Finance 100.0
Other 189 consolidated subsidiaries and 31 equity method affiliates
* : Equity method affiliates
**: Millions of yen, unless otherwise specified