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Basic Principle |
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| We will identify environmental problems as critical issues shared by people everywhere and make every effort to preserve the global environment, contributing to society as a responsible corporate citizen. |

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Corporate action policy |
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| JFE Shoji Group will implement its environmental management based on the policy given below, taking into account the company's role as a specialized, sophisticated trading firm that handles steel, raw materials, industrial machinery, marine vessels, chemicals and fuels, electronics, food and other products in domestic sales, import and export, and that conducts a range of businesses. |

| 1. |
Compliance with corporate legislation and the prevention of pollution
Observe environmental laws and regulations, industry standards and other requirements in all of our activities. In addition, consider the preservation of the natural environment as much as possible in a practical manner and make an effort to prevent pollution.

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| 2. |
Energy efficiency
Promote reduced reliance on electricity to prevent global warming.

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| 3. |
Effective use of resources and the promotion of recycling
Use resources as effectively as possible and promote recycling.
(Emphasize reductions in paper consumption and promote paper recycling.)

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| 4. |
Promotion of commodity trading activities to contribute to the environment
Promote the handling of environmentally friendly commodities and associated activities in our commodity trading to help preserve the global environment.

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Promotion of environmental review activities with business partners
Considering that most of the impact of our activities on the environment is indirect, promote environmental reviews among our partners in commodity trading to make our activities to preserve the environment known.

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Promotion of environment management and continued improvement
To achieve the environmental policy, determine the environmental objectives and targets
and promote environmental management that mobilizes all staff members. In addition, regularly review the environmental objectives and targets and revise them as necessary to ensure that the environmental management system is constantly improved.
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| 7. |
Internal and external announcement of the environmental policy
Notify all employees of the environmental policy and train them so that they are all able to understand and implement the policy. Announce the environmental policy publicly.

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March 29, 2002 |

JFE Shoji Group Acquires Environmental Management System
ISO14001 Certification At All Domestic Offices
Registration Number: EC00J0161 Certified By "UKAS" & "JAB"
Registration Date: December 21, 2000
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