The Kyoei Steel's management philosophy is to coexist with society and contribute to the development of the Japanese economy and local communities through the resource-recycling business that centers on the steel business. To implement this philosophy, we engage appropriately with multi-stakeholders, including employees, customers, business partners, communities, and shareholders. We believe that the proper distribution of the earnings and results generated from value co-creation and productivity improvement to multi-stakeholders will result in maintaining momentum towards pay increases and the sustainable development of the economy, and thus returns to employees and consideration of business partners are important. Based on this, we will pursue a number of initiatives under the Multi-Stakeholders Policy. Specifically, we will take the following initiatives.