On January 5th 2012, the first working day of the New Year, Mr Hiroshi Sato President and CEO of Kobe Steel gave a New Year's message to company employees.

He said “Business conditions surrounding the Kobe Steel Group have been changing in many ways. Japan's domestic demand has long been sluggish. Europe has been beset by an economic crisis and financial instability. Emerging countries, such as China and India that have led the world economy since the global financial crisis, have slowed. And the yen has risen to record levels.”

He said “These changing conditions have been increasing business risks. Under these circumstances, all of us at the Kobe Steel Group must work together, as in a rugby scrum, and make a group wide effort to maximize our profits in the remaining three months of fiscal 2011.”

He added “On the other hand, from a medium and long term standpoint, the world economy is expected to keep growing driven mainly by emerging economies. This will bring more business opportunities.”