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Notice on the Sale of Shares
April 14, 2010
TOKYO, April 14, 2010 - Kobe Steel, Ltd. announces that it has decided to sell its shares held in Kobelco Eagle Marine Engineering Co., Ltd. (or KEMEL) as noted below.
1. Contents of Sale of Shares
(1) No. of shares to be sold:
Kobe Steel intends to sell all 2,240 shares it holds in KEMEL (35% of total issued shares).
As a result, Kobe Steel will have 0 shares in KEMEL after the sale.
(2) Value of sale:
3.29 billion yen
(3) Buyer of the shares:
Eagle Industry Co., Ltd.
(4) Date of sale:
Planned for May 10, 2010
2. Effect on Kobe Steel's Business Results
As a result of the sale of shares, Kobe Steel is anticipated to record a gain on sale of securities amounting to 2.2 billion yen on a consolidated basis for fiscal 2010, ending in March 2011.
(The sale of shares will have no effect on Kobe Steel's business results for fiscal 2009, ended in March 2010.)
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