Visions - Winter 2009 - 6

(continued) We can develop our business model in our line pipe and specialty tube businesses. MR. NAMBU: There is no way to avoid the volatility, but the following actions are how we prepare currently: • We squeeze assets (inventory and A/R) as much as possible through risk-sharing negotiation with customers. • We prioritize business with large companies that have long term capital projects. • We focus on value-added material where we have less competition. • We seek companies to be candidates for future growth investment, as those must be less expensive under low oil price market. enhanced by the V&M Star acquisition.We expanded this SCM model internationally with SC Global Tubular Solutions (SC GTS) and started Global Stainless Supply (GSS) in the specialty tube business. We would like to expand our business into the oilfield service business more through HOWCO and establish a certain level of portfolio status. Also, we can develop our business model in our line pipe and specialty tube businesses. Five years ago we started GSS, and through its acquisition of Forged Fittings & Flanges (FFF), we dramatically enhanced our business. I believe we can do the same in our line pipe business. VISIONS: How do you see distribution and services, as well as manufacturing and fabrication, changing in the future? MR. NAMBU: All VISIONS: To what do you attribute our past successes, and where do you feel we can improve? MR. NAMBU: For successes, we can look at our current profit avenues, which come mainly from OCTG distributions like V&M Star, and from specialty tubular distribution such as HOWCO, which manufactures and distributes to the oil well service industry. Our business model in supply chain management (SCM) started from Premier Pipe investment and was the past changes derived from customerdemand change, and we have adjusted ourselves to it. I believe one change is that companies will be outsourcing tubular-related supplies and services, including technical consultancy and R&D, to a reliable partner like us. We would like to improve our market intelligence capability and engineering consultancy capability to 6 visions Winter 2009

Visions - Winter 2009

Table of Contents for the Digital Edition of Visions - Winter 2009

Visions - Winter 2009
Tubular Group Forges Path To Success
Diversified CPC Propels Itself To Consistent Success
SCOA Continues Commitment to Environmentally Progressive Approaches in Transportation
SCOA Real Estate Unit Purchases Miami Center Building
The View from Washington: Has Change Really Come to Washington?
Visions - Winter 2009 - Visions - Winter 2009
Visions - Winter 2009 - 2
Visions - Winter 2009 - 3
Visions - Winter 2009 - Tubular Group Forges Path To Success
Visions - Winter 2009 - 5
Visions - Winter 2009 - 6
Visions - Winter 2009 - 7
Visions - Winter 2009 - Diversified CPC Propels Itself To Consistent Success
Visions - Winter 2009 - 9
Visions - Winter 2009 - 10
Visions - Winter 2009 - SCOA Continues Commitment to Environmentally Progressive Approaches in Transportation
Visions - Winter 2009 - 12
Visions - Winter 2009 - SCOA Real Estate Unit Purchases Miami Center Building
Visions - Winter 2009 - 14
Visions - Winter 2009 - The View from Washington: Has Change Really Come to Washington?
Visions - Winter 2009 - 16
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