Medium-Term Management Plan (JGP2012)
JSW has drawn up a medium-term management plan (JGP2012) that covers
the three-year period from fiscal 2010 through fiscal 2012.
Basic Policies
JSW’s business vision is to become a “company that createschange” with creative technology, and contributes to thedevelopment of society. Under this vision, to further develop
monozukuri—the source of corporate value—and continue toprovide products and services that win customer trust, JSW
has instituted the following basic policies.

1) Strengthen product competitiveness and raise earnings
2) Execute strategic investments and achieve results3) Pass technologies and skills to the next generation anddevelop human resources
4) Create a culture of innovation
5) Build a stronger foundation to support our businessactivities

Our Corporate Ideal
Since its founding in 1907, JSW has accumulated rich reservesof sophisticated technologies and skills by meeting a wide
range of market needs in the steel and machinery fields. JSW
has inherited innovator’s DNA, which enables it to work diligently toward the further improvement of these reserves.
As a company that has made monozukuri its foundation,
JSW has set its sights on becoming the “number one global

monozukuri company” (see note below) to further meet thewide-ranging needs of this day and age.
Note:
Number one global monozukuri company: A company that creates the world’s
most advanced creative technologies (differentiated technologies) in the areasof materials and mechatronics, provides the world’s best products that continue
to meet market and customer needs, and can compete in global markets overthe long-term.

Numerical Targets (Consolidated)(1) Outline of Medium-Term Management Plan Corporate Objective:“No. 1 Global Company in Monozukuri” (customer-centered manufacturing)
Vision— Company that Creates Change —A company that contributes to the development of society by using proprietary technologies to create changeManagement Philosophy• Always provide customers with excitement and inspiration • Seek ongoing innovation • Achieve sustained profits through cooperation with societyManagement Policies• Strengthen product competitiveness and boost profitability • Implement strategic investment and pursue results• Transfer technologies and skills to develop new generation of human resources • Establish a corporate culture for innovation• Strengthen the foundations for corporate activities

Priority Objectives• Increase presence in growth markets • Continue strategic investment• Develop markets for non-price competition through product differentiation strategies • Develop strategies for winning in price-competition markets• Develop global human resources • Strengthen the foundations for corporate activities

No. 1 Global Company in Monozukuri
JSW is committed to utilizing its proprietary materials and mechatronics technologies (differentiating technologies)that stand at the forefront of the world to supply No. 1 products meeting the demands of markets and customers,
thereby moving forward as a company capable of battling it out in global markets over the medium to long term.

6(2) Outline of Medium-Term Management Plan:
Timeframe and Numerical Goals
Title:JGP2012 (JSW Growth Plan FY2010 – FY2012)
Duration:
FY2010 – FY2012
Numerical goals:
FY2010JGP2012Net sales: 201.6 billion yen
Operating income: 32.1 billion yen

Net sales: 260.0 billion yen or more
Operating income: 37.0 billion yen or more

Sales

Operating income

Steel products
Machinery products
Regional development
TotalSteel products
Machinery products
Regional developmentExpenses that could not
be disposed or allocatedTotal

Ordinary income
Net income(¥ million)
2011 forecast 2012 forecast 2013 forecast
109,000
108,000
120,000
97,200120,000
138,000
1,800
2,000
2,000
208,000
230,000
260,000
28,00024,00030,5004,300
8,500
13,500
700
700
700

2009
107,883
117,462
1,767
227,11331,473
11,435743

2010
101,736
98,164
1,779
201,680
31,6406,535
733(7,019)(6,723)(7,500)(7,200)(7,700)36,63335,94916,03432,18531,246
17,52825,50025,00014,00026,00025,50014,50037,00036,50021,000Priority Issues by Segment• Steel Products
1) Thermal and nuclear power products
As the world’s leading and most trusted business with thenumber one market share, we will expand our businessscale by executing our capital investment plan as scheduled(now in progress), and swiftly unleash our competitivepower.
2) Pressure vessels for oil refineries
Being the world’s number one business supplying inevitable components for oil refineries, we will further strengthen
our advantages in technology, quality and delivery as amanufacturer that handles every phase of the total production process, from materials to welding and final assembly.
3) Clad steel plates and pipes
As a global business that supplies a diverse range of products that address natural gas and desalination demand, wewill stabilize and expand business through unrivaled production capacity and more high value-added products.

• Machinery Products
1) Plastics manufacturing and processing machinery
As a comprehensive plastics machinery business with alineup of market leading products, we will develop differentiated products and technologies and further expand
globally.
2) Molding machinery
As a comprehensive molding machinery business focusedon medium- and large-scale machinery, we will address
demand in emerging countries and pursue synergies with
Meiki Co., Ltd.
3) Wind turbine system equipment
As a business with the number one market share in Japanfor high-performance products and improved maintenancesystems, we will flexibly accommodate changing market
demands while winning greater customer trust withimproved maintenance systems.

• Regional Development
As a business that ensures stable earnings, we will continue
to maintain the value of Company-owned land.

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