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News Release
04.01.2014

Establishment of a New Chemical Company through Joint Investment between Tsukishima Technology Maintenance Service and METAWATER SERVICE

We are pleased to inform that, effective today, METAWATER SERVICE Co., Ltd. (Headquarters: Tokyo, Japan; President: Eiji Nakamura; hereinafter referred as "METAWATER SERVICE"), a wholly owned subsidiary of METAWATER Co., Ltd. (Headquarters: Tokyo, Japan; President: Tomoyasu Kida; hereinafter referred as "METAWATER"), has established a new chemical company, "Hybrid Chemical Co., Ltd", through joint investment with Tsukishima Technology Maintenance Service Co., Ltd. (Headquarters: Tokyo, Japan; President: Hiromitsu Hattori; hereinafter referred as "Tsukishima Technology Maintenance Service"), a wholly owned subsidiary of TSUKISHIMA KIKAI Co., Ltd. (Headquarters: Tokyo, Japan; President and CEO: Kazuhiko Yamada; hereinafter referred as "TSUKISHIMA KIKAI"). The purpose of the new company is to develop and expand the chemical business, mainly in the drinking water and wastewater treatment fields.

1. Reason for the Establishment of the New Company

In Japan, the surroundings of the drinking water and wastewater treatment business are rapidly changing. Lately, the aging of public assets and facilities that were constructed during times of rapid economic growth is quickly becoming a major issue. There is widespread concern that soon, the time will come when these infrastructures will require massive upgrading. However, a large number of drinking water / wastewater business operators are facing various issues, ranging from financial difficulty to a shortage of trained engineers. As a measure to address these issues, the use of a public private partnership (PPP) - a form of cooperation that makes active use of technologies, knowhow, workforce, funds, and other assets of private companies, for the construction, repair, operation, and management of public infrastructure - is expected to increase in the future.

Ever aware of the need to expand the base of chemical business for future growth, Tsukishima Technology Maintenance Service and METAWATER SERVICE have established a new chemical company effective today through a joint investment.

Currently, Tsukishima Technology Maintenance Service has strengths in sales and service networks of chemicals for water / wastewater treatment for water / wastewater business operators across the nation, private companies, and other organizations. Meanwhile, METAWATER SERVICE has expertise in the provision of chemicals for water and wastewater treatment projects under PPP.

By combining and centralizing the respective companies' chemical business into the new company, we will provide customers, including water / wastewater business operators and private companies in the industry, with one stop solutions, such as the selection of optimal chemicals, suggestions for optimal usage volume / methods, and appropriate costs. In addition, the new company will support customers in securing chemicals in the event of disasters.

In the area of business operations, the new company is expected to create synergies, including the development of a business framework with cost competitiveness through reduction of procurement costs, through the centralization of procurement functions and streamlining management and business operations in the chemical business.

2. Outline of the New Company

(1) Company Name:

Hybrid Chemical Co., Ltd

(2) Head Office:

1-3-7, Saga, Koto-Ku, Tokyo, Japan

(3) Representative:

President Yasuhito Gomi (currently, General Manager, Chemical Sales Division, Tsukishima Technology Maintenance Service)

(4) Capital:

40,000,000 yen

(5) Investment Ratio:

Tsukishima Technology Maintenance Service: 50%, METAWATER SERVICE: 50%

(6) Date of Establishment:

April 1, 2014

(7) Settlement Period:

March

(8) Main Business Activities:

Sale of industrial chemical / fuel, technical investigation of water quality, sale of equipment / parts, other businesses associated with those listed above

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