May 25, 2016

TOKAI Holdings Corporation
Katsuhiko Tokita, President & CEO(Code No. 3167 Tokyo Stock Exchange First Section)
To whom it may concern

Conclusion of Joint Venture Agreement for LP Gas Business in Myanmar
Full-scale overseas expansion of gas business know-how cultivated for over 60 years since founding

With the intent of joint operation in the LP gas business in the Republic of the Union ofMyanmar, TOKAI MYANMAR COMPANY LIMITED (hereinafter “TOKAI Myanmar”), a wholly
owned subsidiary of TOKAI Holdings Corporation (hereinafter “the Company”), and ITO
Corporation (Headquarters: Higashiosaka City, Osaka; President: Niro Utsumi; hereinafter “ITO”)
concluded a joint venture agreement today, as shown in the attached documents.
The LP gas business of the Company provides LP gas to 580 thousand customers in Japan,
primarily in Shizuoka Prefecture and eight prefectures in the Kanto region, and is the number
three* direct-to-consumer retailer in the industry.
Overseas, local company TOKAI Myanmar was established in April 2014 and has been
advancing the LP gas business in Myanmar.
Through the joint venture agreement with ITO, the Company will aim to promote further
spread of LP gas in Myanmar, which is undergoing rapid economic growth, and implement full-scale
overseas expansion of the Company’s LP gas business.
*Source: “LP Gas Annual Report 2016” by Sekiyu Kagaku Shinbun Sha

Contact: Yoshihiro Taniguchi
Public Relations and Investor Relations Office
TEL: +81-(0)54-669-7676
Email: overseas_IR@tokaigroup.co.jp

May 25, 2016

TOKAI Holdings Corporation

To whom it may concern

Joint Venture of the Company’s Subsidiary with ITO Corporation

TOKAI Holdings (Headquarters: Shizuoka City, Shizuoka; President & CEO: KatsuhikoTokita; hereinafter the “Company”) has resolved to transfer 40% of shares held in TOKAIMYANMAR COMPANY LIMITED (hereinafter “TOKAI Myanmar”), a subsidiary of the Company,to ITO Corporation (Headquarters: Higashiosaka City, Osaka; President: Niro Utsumi; hereinafter“ITO”) and convert the subsidiary into a joint venture as follows.
1. Objective of joint venture
TOKAI Myanmar was established in 2014 and conducts an LP gas pipeline provision businessand a business related to sales of equipment for LP gas in the Republic of the Union ofMyanmar (hereinafter “Myanmar”).
Meanwhile, ITO was founded in 1929 as Ito Manufacturing, and has been conducting
manufacturing of regulators for LP gas, large-scale bulk storage tanks, and other equipment
related to LP gas. Additionally, with local companies stationed in the United Kingdom, China,
South Korea, and Vietnam, ITO conducts businesses such as construction of gas provisionsystems for industrial, manufacturing, and consumer use, and import and sales of gas-relatedequipment.
Until this point, TOKAI Myanmar has handled construction work for orders received throughcooperation with ITO, but as the number of project orders received is forecast to increase in linewith the economic development of Myanmar, the Company has resolved to transition to a jointventure with the intent of strengthening the technological and organizational structure ofTOKAI Myanmar, and to further increase competitiveness.

2. Summary of joint venture(1) Name(2) Address(3) Position and name ofrepresentative(4) Business description

TOKAI MYANMAR COMPANY LIMITED419 YUZANA HOTEL, 130, Shwe Gon Taing Road, Bahan
Township, Yangon
Masanari Nagai, Managing Director
Business related to LP gas pipelines and the sale of LP gas
equipment in Myanmar, and other incidental businesses(5) Capital

550 thousand US dollars(6) Date of establishment

April 2014

(7) Fiscal year-end

March(8) Shareholding ratio

TOKAI Holdings: 60%
ITO Corporation: 40%

3. Summary of joint venture counterparty(1) Name

ITO Corporation(2) Address

10-4, Hakodono-cho, Higashiosaka, Osaka(3) Position and name ofrepresentative

Niro Utsumi, President
Manufacture and sale of gas pressure regulators (adjustors),(4) Business description

governors, valves, pressure regulating valves for gas andwater, etc., and solenoid valves; import and sale of bulk
storage tanks(5) Capital

90.00 million yen(6) Date of establishment

November 1953 (Founded: May 1929)(7) URL

http://www.itokoki.co.jp

4. Schedule(1) Date of resolution by Boardof Directors(2) Date of conclusion ofagreement(3) Date of completion ofregistration

May 10, 2016
May 25, 2016
July 2016 (Scheduled)5. Future outlook
This joint venture agreement will not have a significant effect on the Company’s consolidated
business results for the fiscal year ending March 31, 2017.