OREANDA-NEWS. April 28, 2011. Today, Sumitomo Metal Industries, Ltd. (the “Company”) announced its plan to recover the fund of around 100 billion yen needed to restore the facilities at Kashima Steel Works damaged by Great ast Japan Earthquake on March 11, 2011.

<Summary of the Recovery Plan>
We make every effort to cut spending in all possible aspects, including revision of investment plans, reduction of costs and expenses. We expect to obtain at least half the funds needed for damage recovery in FY2011 (April 1, 2011 – March 31, 2012).