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Kobe Steel to appoint new president
February 24, 2004

TOKYO, February 24, 2004 - Kobe Steel, Ltd. announces that its Board of Directors decided today to appoint Executive Vice President and Representative Director Yasuo Inubushi as President, CEO and Representative Director of Kobe Steel. Current President Koshi Mizukoshi will become Chairman and Representative Director. These appointments will become effective on April 1.


Profile of Yasuo Inubushi

Yasuo Inubushi was born in the city of Tokushima in Tokushima Prefecture on February 10, 1944. He graduated from the School of Economics at Osaka University in March 1967.

In April 1967, Inubushi joined Kobe Steel, Ltd. He was initially assigned to the Accounting Section at Kobe Works. Two years later, he was transferred to the Sales Planning & Administration Dept. in Osaka. Following a number of postings, Mr. Inubushi spent a cumulative total of 10 years in the Sales Planning & Administration Dept.

Inubushi spent a total of eight years working overseas. In 1974, he was transferred to Titan Steel & Wire Co., Ltd., a secondary wire rod processor in Canada. He subsequently worked in Kobe Steel's offices in Los Angeles and New York.

In 1981, Inubushi was promoted to Manager of the Cold Rolled Sheet Sales Section in Osaka's Steel Sheet Sales Dept., a domestic sales position. After that, he was assigned to the Steel Export Dept. involved in the overseas market. Beginning in 1987, Inubushi was engaged in the establishment and administration of USS/KOBE Steel Company and PRO-TEC Coating Company, joint ventures with the former USX Corporation (currently United States Steel Corporation).

In January 1990, he rose to General Manager of the International Operations Dept., Iron & Steel Division, which was in charge of the overseas steel ventures.

In June 1996, Inubushi was appointed a Director of Kobe Steel. He was responsible for the Planning & Administration Dept. and was General Manager of the Sales Planning & Administration Dept. in the Iron & Steel Division.

In June 1999, he was promoted to the position of Senior Officer of Kobe Steel and looked after a number of head office operations. He oversaw the Human Resources Dept. and Corporate Planning Dept. and was responsible for the Legal Dept. and Finance Dept. He was instrumental in Kobe Steel's "selection and consolidation" of its businesses, including the sale of the semiconductor business and the reforming of the construction machinery business.

In June 2001, Inubushi became an Executive Officer of Kobe Steel and returned to the Iron & Steel Sector as General Manager of the Steel Sales Division.

The following year, in June 2002, Inubushi was promoted to Executive Vice President and Representative Director of Kobe Steel.


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