Nippon Steel Spiral Pipe Vietnam Company Limited (Vietnam)

The subject engages in manufacturing and processing kinds of steel pipe. As collected, all shareholders' shares are listed stock exchange. For example, there are Hanwa Co., Ltd (stock code “8078” on TYO), Marubeni Corporation (stock code: 8002 on TYO), Sumitomo Corporation (stock code: 8053 on TYO) and Mitsubishi Corporation (stock code: 8058 on TYO). Mitsubishi Corporation owns 60% shares of Metal One Corporation.Although there were changes in shareholders, Nippon Steel Corporation (formerly known as Nippon Steel and Sumitomo Metal Corporation) remains its parent one. Nippon Steel Corporation – ultimate parent company's shares are listed on TYO under stock code “5401” whose major shareholders were The Master Trust Bank of Japan, Ltd. (Trust Account) – 15%, Custody Bank of Japan, Ltd. (Trust Account) – 4.3% as of March 31, 2023. In addition, Nippon group's revenue included steelmaking and steel fabrication – 89% (it), engineering and construction – 4%, chemicals and materials – 3% and system solutions – 4%. This means that it operates in the significant segment of the Nippon group.Moreover, the Master Trust Bank of Japan, Ltd. (Trust Account) indirectly has at least 13.58% of its interest. Shareholders have other subsidiaries in Vietnam. These imply that they have many experiences in this industry and in accordance with law. However, its key policies have governed by Nippon Steel Corporation; especially In Dec 2022, this parent company acquired the shares of Nippon Steel Trading Corporation. But, Nippon Steel Vietnam Company Limited is list of Nippon Steel Corporation's principal subs while it is not. With seven large listed investors, it will have a potential conflict of interest, difference in strategy (e.g., short or long-term profit) and risk.