January 4, 2016
Company name: Tamagawa Holdings Co., Ltd.
Representative: Toru Masuzawa, President(JASDAQ Code 6838)
Contact:
Akihiro Ushiroda, Director
Telephone:+81-3-6435-6933

Tamagawa Holdings Announces Current Status ofthe Misawa Power Plant Operations Planned by the Tamagawa Holdings GroupAs previously announced in the release dated December 26, 2014, entitled "Tamagawa Holdings
Announces Progress in the Business Alliance with ISE Power Co., Ltd.," Tamagawa Holdings has
been planning the construction and operation of a solar energy power plant with a total capacity of10 megawatts in Misawa city, Aomori prefecture (the "Operations"). Following procedures
completed with a view to an early start of electric power sales, Tamagawa Holdings has now
successfully obtained the official approval from Tohoku-Electric Power Co., Inc. for the power
feed-in connection (referring to the preparations for connecting to the electric power grid of theutility firm as a precondition for electric power sales).

1. Outline of the power plant
The Misawa power plant was planned as a large-scale solar energy power plant with a total output
capacity of around 10 megawatts. The plant site was previously used as a chicken farm but has since
been vacated. The site is of a flat topography, located on the Pacific side, and has little exposure tosnowfall. With sunlight necessary for electric power generation therefore assured throughout the year,
the site is considered a suitable location for solar energy power plant operations.
Regarding the running of the power plant, as previously announced in the release dated June 11, 2015,
entitled "Announcement of Progression of Strategic Cooperation with Etrion Japan KK," a generalagreement has been concluded between Etrion Japan KK ("Etrion Japan") and Tamagawa Holdings
for the joint running of the Operations. With the recent official approval received for the power
feed-in connection, Etrion Japan and Tamagawa Holdings will enter into mutual consultations towardinitiating the Operations, in the expectation that arrangements will be specific and proceed at a swiftpace.
2. Outline of Etrion Japan and Etrion Corporation
The parent company of Etrion Japan is Etrion Corporation ("Etrion Corp."), a corporation listed on
Canada's Toronto Stock Exchange. Etrion Corp. is a major group company of the Lundin Group, alarge resources and energy development group with interests in energy and mining operations. TheLundin Group controls 11 listed companies with operations in over 25 countries. Among them, Etrion
Corp. takes a position as an important renewable energy company of the Lundin Group. Notably, themarket capitalization of listed companies belonging to the Lundin Group exceeds US$10 billion(around ¥1.2 trillion) on a simple aggregation basis.

13. Outline of the Operations(1) Address

5-chome, Mukawame, Misawa-shi, Aomori and others(2) Operator

GP Energy A, LLCGP Energy B, LLC
GP Energy C, LLC
GP Energy D, LLC(All fully-owned subsidiaries of Tamagawa Holdings)(3) Site surface area

Approximately 153,000 m2(4) Power generating capacity

Approximately 10 megawatts(5) Electricity sales price (fixed for 20 years)

36 yen/kWh (tax excluded)(6) Income from sales of electric power

Approximately 390 million yen annually(projected)(7) Estimated electric power sales volume in

Approximately 10,852,814 kWh

the first fiscal year (projected)

4. Outlook
Tamagawa Holdings expects electric power sales at the Operations to commence in the next fiscal
year. Specific developments concerning the joint operations with Etrion Japan will be expediently
disclosed and reported.

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