According to its Annual Report filed with the SEC for fiscal year 2019: "During the fiscal year ended March 31, 2019, export sales to Iran accounted for ¥1,954 million, or 0.03% of NSC’s total consolidated revenues for the fiscal year ended March 31, 2019. NSC sold steel pipes, tin plate, and steel plate to Iran for civilian use. We cannot exactly calculate the net profits associated with these transactions.

NSC conducted the above transactions in accordance with applicable law, and NSC believes that the above transaction does not subject to U.S. sanctions. Upon the reinstatement of sanctions by the United States in November 2018, NSC ceased these operations, and NSC does not currently intend to resume these transactions so long as sanctions imposed on Iran by the United States are in place."

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Nippon Steel & Sumitomo Metal is now known as Nippon Steel Corp.

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Nippon Steel & Sumitomo Metal Corporation is listed as an attendee for the 2016 2nd Iranian Iron & Steel Conference taking place from September 26-28 in Isfahan, Iran. The event overview states: "There is much to discuss, with sanctions being removed, new projects and investment opportunities planned across Iran and an in-depth look at the central Asian region steel industry" (2nd Iranian Iron & Steel Conference, 2016). 

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"More than 300 companies worldwide, including triple as many from Japan as last year, have gathered here for Iran's biggest trade fair, seeking opportunities for growth in this vast Middle Eastern market poised for relief from Western economic sanctions. Among the 18 Japanese companies exhibiting at this year's event is Nippon Steel & Sumitomo Metal, whose wares include seamless pipe for the oil and gas industry. NEC, which did business with the Iranian telecom sector before the sanctions, had network equipment and other technology on display. Both companies aim to rekindle business in Iran. Others, like Fuji Manufacturing, are hopeful newcomers." (Nikkei Asian Review, “Japan Inc. eager to get back to business in Iran,” 10/7/2015)

"On 13 September 2017, the International Federation for Human Rights (FIDH), Justice for Iran (JFI) and Redress filed a complaint with the Italian NCP against Italtel Group S.p.A.. The Complainants allege that Italtel has breached multiple principles of the OECD Guidelines in relation to its business activities in Iran including a Memorandum of Understanding (“MoU”) entered into by Italtel and the Telecommunications Company of Iran (“TCI”) on 13 April 2016." (Justice 4 Iran, "FIDH, JFI and Redress vs Italtel; a case summary," 7/7/2019).

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ITALTEL TO SUPPORT OPERATORS IN IRAN BY BUILDING INFRASTRUCTURES FOR ULTRA-FAST INTERNET TO PROVIDE SERVICES FOR PEOPLE (September 6, 2016)

In your role as Italtel CEO, you are quoted as saying, “we are proud to be part of this important project. Telecommunications and ICT represent indeed an accelerator for the development of many other areas and economy in general.” (Italtel Press Release, “Italtel And TCI Agree to Cooperate On Telecommunication Development Projects In Iran,” 4/13/2016).  

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The CEO of Italtel is listed as a speaker at the 2016 Iran Connect conference that took place from September 6-7, in Tehran, Iran. The meeting was for international telecom ecosystems looking to do business in Iran. (Iran Connect Brochure, 2016).

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Italtel – a leading telecommunications company in Network Functions Virtualization, managed services and all-IP communication – today revealed its intentions in Iran, announcing it will concentrate on building up ultra-fast Internet wideband infrastructures so that essential services such as health and education can be improved. Iran is one of the fastest growing economies of the Middle East following the removal of the economic sanctions at the beginning of 2016. As a result, many international operators and technology vendors, including Italtel, are looking to take advantage of the growth and development opportunities. Speaking at the Iran Connect 2016 conference – which is taking place today and tomorrow at Tehran’s Espinas Palace Hotel – Italtel’s CEO Stefano Pileri said industries including health, transport and education would be the sectors which would reap the most benefit for operators and Iran citizens. (Italtel, "Italtel to support operators in Iran," 9/6/2016)