Establishment of a Soda Ash and Calcium Chloride Joint Venture Company

Tokuyama Corporation and Central Glass Co., Ltd. to establish a joint venture company and transfer the sales business    Tokuyama Corporation (Tokyo Head Office: Chiyoda-ku, Tokyo; President: Kazuhisa Kogo) and Central Glass Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President & CEO: Shuichi Sarasawa) have reached an agreement regarding sales of soda ash and calcium chloride, products offered by Tokuyama Corporation and Central Glass Co., Ltd.since the day of formation.

Under this agreement, Tokuyama Corporation and Central Glass Co., Ltd will establish a joint venture company and transfer and consolidate the sales businesses for those products.

The domestic market for soda ash has seen a major contraction in demand due to the economic stagnation following the bankruptcy of Lehman Brothers and there is no prospect of a recovery. There has been a long-term and persistent decline in demand for glass and powder detergents, the major applications of soda ash, and growth and recovery of the market will be tough going forward due to the fact that users of the products are transferring their operations overseas, among other factors.

Given these circumstances, Tokuyama Corporation and Central Glass Co., Ltd have judged that it is essential to reconstruct the soda ash and calcium chloride businesses to create a business structure that is optimal for the current market environment, and therefore decided to establish the joint venture company.

• Company name: Under consideration

• Head office: Tokyo (planned)

• Representative: Selected from Tokuyama (planned)

• Established: April 1, 2014 (planned)

• Commencement of operations: October 1, 2014

• Paid-in capital: 10,000,000 yen (investment ratios: Tokuyama 65%, Central Glass 35%)

• Major products: Sale of soda ash and calcium chloride

Reference (Production capacity of the two companies) *Nominal capacity

Product name        Tokuyama       Central Glass   Total

Soda ash               340,000 tons   250,000 tons    590,000 tons

Calcium chloride    190,000 tons   180,000 tons    370,000 tons

600450 Establishment of a Soda Ash and Calcium Chloride Joint Venture Company glassonweb.com

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