Kyoei Steel Ltd. agreed to acquire 20% stake in Viet Nam - Italy Steel Joint Stock Company from Thai Hung Trading Joint Stock Company for ¥1.9 billion.

Vietnam - Italy Steel Joint Stock Company is a Vietnam-based steel manufacturer. The Company manufactures and trades various steel products under brand name VIS. Its products comprise of steel scrolls of diameter between 6 and 8 millimeters, and deformed steel bars of diameter between 10 to 50 millimeters. It is also involved in the trading of iron ores, as well as supplies and equipment for the steel manufacturing industry. The Company's other activities include the offering of transportation services for bulk goods. As of December 31, 2012, the Company had three branches located in Hai Phong City, Danang City and the northwestern part of Vietnam, along with a representative office located in Hanoi.