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Press Release

Notice of establishment of the new company

February 9, 2016
Cosmo Energy Holdings Co., Ltd.

Cosmo Energy Holdings Co., Ltd. (Representative Director & CEO: Keizo Morikawa) (hereinafter, CEH) announced that the establishment of new company has been resolved at the board of directors meeting held today in order to operate power generation business utilizing the Yokkaichi kasumi power plant owned by Cosmo Oil Co., Ltd. (Representative Director & CEO: Hisashi Kobayashi),our wholly owned subsidiary, and petroleum cokes as fuel.

1. The purpose of the new company

The Japanese power industry is required for efficient energy supply as full liberalization in retail electric market will begin in April 2016. The new company aims for stable and efficient energy supply further by utilizing know-how and expertise in power generation that Cosmo group has acquired through the experience of IPP business and management resources such as petroleum cokes produced in Sakai refinery.

2. Summary of the new company

(1) Company Name Yokkaichi Kasumi Power Co., Ltd. (hereinafter, YKP)
(2) Registered Address 1-1-1, Shibaura, Minato-ku, Tokyo
(3) Name & Title of Representative Masayoshi Noji (Representative Director) (planned)
(4) Primary Business
  • Modification work of power plant(It's designed to enable use of petroleumcokes as well as conventional residual oil as fuel. )
  • Operation of the power plant after the modification work, etc.
  • Generation and sales of electricity
(5) Paid-in-Capital 10,500 MM JPY (Including capital reserve)
(6) Date of Establishment February 19, 2016 (scheduled)
(7) Shareholders and shareholding ratio CEH  61%
Partner (corporation)  39%
(8) Relationship between CEH and YKP Capital Ties CEH owns 61% of YKP shares.
Human Resources Masayoshi Noji, Executive Officer of CEH is also Representative Director of YKP.
Business Between the CEH and YKP, there is no business relationship that should be disclosed.

3. Summary of the joint partner

The outline of joint partner will be announced after concluding contract associated with the joint business, since the investment decision has yet to be determined by the joint partner and the contract associated with the joint business has not been concluded.

4. Future prospects

The impact on our consolidated business performance for the fiscal year ending March, 2016 by this new company establishment is expected to be limited.

End

<Reference>

1. Summary of Cosmo Oil Co., Ltd.
(1) Company Name Cosmo Oil Co., Ltd
(2) Registered Address 1-1-1, Shibaura, Minato-ku, Tokyo
(3) Name & Title of Representative Representative Director, President   Hisashi Kobayashi
(4) Primary Business Integrated Oil Business
(5) Paid-in-Capital 167,200 MM JPY
(6) Date of Establishment April 1, 1986
(7) Shareholders and shareholding ratio CEH  100%
2. Summary of Cosmo Oil Co., Ltd. Yokkaichi Kasumi Power Plant (After modification work)
(1) Registered Address Yokkaichi, Mie Prefecture
(2) Power generation scale (sending end) 200,000kW
(3) Fuel Petroleum cokes and residual oil
(4) Power generation method Boiler and steam turbine power generation
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