3-Year Business Plan

Under the new 2009 3-Year Business Plan, SMM will seek the completion of its growth strategy launched in the 2003 3-Year Business Plan and will also further develop and strengthen its growth strategy for ongoing implementation in subsequent business plans. It will also pursue a business strategy targeting further enhancement of its corporate value.

SMM’s business environment is currently in the midst of major changes: increased demand for non-ferrous metals in the BRICs, notably China, fueled by robust economic growth; intensifying competition to secure resources; and increased importance of environmental and energy businesses on global scale. In response to these changes, the company will now shift, in line with its long-range management vision, from the foregoing two core businesses to three: Mineral Resources, Smelting & Refining and Materials. Leveraging the company’s strengths – its technological and research capabilities, globalized operations, and sound financial structure – management resources will be concentrated into these new core business areas and investments will be vigorously undertaken.