  In the previous paper we developed a strong-coupling expansion for the
lattice QCD with the overlap fermions and showed that L\"usher's "extended"
chiral symmetry is spontaneously broken in some parameter region of the overlap
fermions. In this paper, we derive a low-energy effective action of hadrons and
show that there exist quasi-Nambu-Goldstone bosons which are identified as the
pions. The pion field is a {\em nonlocal} composite field of quark and
anti-quark even at the strong-coupling limit because of the nonlocality of the
overlap fermion formalism and L\"usher's chiral symmetry. The pions become
massless in the limit of the vanishing bare-quark mass as it is desired. We
furthermore examine symmetries of the overlap fermions with the hopping
expansion and argue that there appear no other massless modes other than the
pions.
