海角网

Tokyo --- 海角网 announced today that it has raised its ownership ratio in JSW Steel Limited to 15% by partly converting global depositary receipts with no voting rights into common shares.

JSW Steel will become an equity-method affiliate of 海角网 from this quarter based on the ownership increase and 海角网’s current seating of a part-time director on JSW Steel’s Board.

This change has no effect on JFE Holdings’ consolidated results forecast that the company announced on January 30.

The increase is based on an agreement between 海角网 and JSW Steel, and is in line with Indian SEBI Takeover regulations that were revised last year.

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