The boards of directors of Nippon Steel Corporation (Nippon Steel) and Sumitomo Metal Industries, Ltd. (Sumitomo Metals), have nominated the Chairman and the President of Nippon Steel & Sumitomo Metal Corporation, the integrated company that is planned to be formed on 1 October 2012. The election of the Chairman and President is conditioned upon (i) the approval of the business integration at the Annual Shareholders Meetings of Nippon Steel and Sumitomo Metals, (ii) the approval of the appointment of the members of the board of directors of the Integrated Company at the Annual Shareholders Meeting of Nippon Steel and (iii) the approval of the appointment of the Chairman and President at the first meeting of the board of directors of the Integrated Company. The Annual Shareholders Meetings of Nippon Steel and Sumitomo Metals are scheduled to take place in late June 2012. Shoji Muneoka, the current Representative Director and President of Nippon Steel Corporation has been nominated for Chairman and CEO of Nippon Steel, and Hiroshi Tomono, the current Representative Director and President of Sumitomo Metals has been nominated for President and COO of Sumitomo Metals.