January 12, 2016
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Tamagawa Holdings Co., Ltd.
Toru Masuzawa, President(JASDAQ Code 6838)
Akihiro Ushiroda, Director+81-3-6435-6933

Tamagawa Holdings Announces Current Status of Progress at the Large-Scale
Solar Energy Power Plant in Goto City, Nagasaki Prefecture

As previously announced in the release dated November 18, 2014, entitled "Tamagawa Holdings Announces
Current Status of Progress at the Large-Scale Solar Energy Power Plant in Goto City, Nagasaki Prefecture,"
Tamagawa Holdings has been moving forward with plans for the construction and operation of a large-scalesolar energy power plant in Goto city, Nagasaki prefecture (the "Power Plant") and has recently appointed acontractor for the construction work of the Power Plant, with details as follows.

1. Details
The Power Plant is a large-scale solar energy power plant with an output capacity of around 5.3 megawatts,
marking the first extra-high voltage power feed-in of Tamagawa Holdings to go on the grid. With support
from various sides, Tamagawa Holdings has been advancing preparations for an early start of electric powersales.
Tamagawa Holdings has recently commissioned Nangoku Corporation with the construction work of thePower Plant. Kagoshima-based Nangoku Corporation is a general trading company with operations
extending over the whole Kyushu area in fields such as construction materials, machinery and equipment,
information processing and telecommunications, as well as energy operations. Nangoku Corporation, which
controls some 40 subsidiaries and affiliates, is a prominent major corporation in Kyushu, which emphasizes
also environmental, ecological, and renewable energy operations. Specifically, in the field of solar energy
power generation, Nangoku Corporation has plans to build their own solar energy power plants in altogether
30 locations across Kyushu with a combined output capacity of around 200 megawatts, and as a matter oftrack record has been involved in the construction of an even greater number of solar energy power plants.
Thus, the construction of the high-quality facilities of the Power Plant is expected to proceed in an expedientand reliable manner. Moreover, Nangoku Corporation has excellent construction cost control capabilities
which are seen to contribute greatly to ensuring the profitability of the Power Plant.

Corporate key data of Nangoku Corporation are shown below.
(1) Company nameNangoku Corporation(2) Address
18-1 Chuo-cho, Kagoshima-shi, Kagoshima, Japan(3) Date establishedMarch 1, 1945
(4) Capital
500 million yen(5) Sales
197.1 billion yen (Fiscal year ended September 2015)(6) Number of employees
899 (Fiscal year ended September 2015)

2. Outline of the Power Plant(1) Location(2) Operator(3) Site area
(4) Power generating capacity(5) Electricity sales price (fixed for 20 years)(6) Income from sales of electric power(projected)(7) Estimated electric power sales volume in thefirst fiscal year (projected)(8) Prospective start date of electric power sales

3-660-1, Aza, Yoshikugi-cho, Goto-shi, Nagasaki,
Japan and others
GP Energy 2 Co., Ltd.
(fully owned subsidiary of Tamagawa Holdings)
Approximately 10 hectares
Approximately 5.3 megawatts
36 yen/kWh
Approximately 250 million yen annually
Approximately 6,790,566 kWh
Around April 2017

Note: In order to enhance the profitability of the Power Plant, Tamagawa Holdings held negotiations over the cost ofthe construction work, etc., and conducted reviews of construction firms. As a result, the prospective start dateof electric power sales stated in item (8) shifted from the previously announced March 2016 to April 2017.

Tamagawa Holdings will work to accelerate the development of this locally-based, large-scale solar energy
power plant and contribute to the local community by creating employment opportunities, etc. Notably, it isplanned to open part of the Power Plant to guided tours for visitors.
3. Further outlook (projected)
Current projections call for the completion of the construction work and the initiation of electric power sales
at the Power Plant by April 2017. Tamagawa Holding will release timely disclosures concerning further
progress going forward.