July 6, 2020

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

Launch of LP Gas Business into the Vietnamese MarketInvestment in the PETRO CENTER Group, a leading LP Gas Distributor in Vietnam
TOKAI Holdings Corporation (hereinafter "Company") hereby announces that TOKAI CORPORATION(Headquarters: Shizuoka-shi, Shizuoka; Representative Director and President: Katsuo Oguri; hereinafter“TOKAI”), the Company’s wholly owned subsidiary, will acquire 45% of respective shares of subsidiaries ofPETRO CENTER CORPORATION (Headquarters: Quang Nam Province, Socialist Republic of Vietnam;
hereinafter “PETRO CENTER”), one of the leading LP gas distributors in Vietnam, namely MIEN TRUNGGAS JOINT STOCK COMPANY (Headquarters: Quang Nam Province, Socialist Republic of Vietnam;
hereinafter “MTG”) and V-GAS PETROLEUM CORPORATION (Headquarters: Dong Nai Province,Socialist Republic of Vietnam; hereinafter “V-GAS”), and the TOKAI Group will launch into the LP gas
market in Vietnam.

1． Background and purpose of investment
In advancing the medium-term management plan “Innovation Plan 2020 JUMP” whose final year is
FY2020, the TOKAI Group has been taking initiatives toward the expansion and strengthening of earnings
base through active development of strategic M&A in Japan and abroad. This investment to the PETROCENTER Group, made to expand the Group's core business overseas, will be the fourth expanded baseoverseas.
Vietnam, which maintains a high economic growth rate among the ASEAN member states, is expected toshow continuous strong growth against the backdrop of abundant labor population and increasing foreign
direct investment. The LP gas market is also expected to continuously grow steadily along with thisgrowth, and the market will become extremely attractive for the TOKAI Group, whose core business isLP gas sales.
The PETRO CENTER Group is engaged in LP gas sales in central and southern Vietnam with a large
market share particularly in the central region. The Group has achieved continuous growth through stablegas supply and robust demand utilizing the respective terminals held in the central and southern regions.
To further expand its business area, the Group had been aiming to enhance its brand power by seeking
business partners with organized security systems and supply technologies. The TOKAI Group, on theother hand, had been searching for promising local partners in growth markets so as to expand its LP gas
business overseas. Discussions proceeded with PETRO CENTER on the direction of growth, and as aresult, agreement was reached to form a partnership through investment.
The TOKAI Group will continue to make efforts to enhance corporate value of both MTG and V-GAS
through this investment while contributing to the further development of the Vietnamese LP gas market
and enhancement of its infrastructure. Furthermore, by utilizing the launch into the Vietnamese LP gas
market as a foothold, the TOKAI Group will aim to further expand earnings base and strengthen
profitability of its LP gas business.

2． Overview of PETRO CENTER(1) Company name
PETRO CENTER CORPORATION(2) Location
Quang Nam Province, Socialist Republic of Vietnam(3) Name ofNguyen Thi Bich Thuy
representative(4) Capital(As of December 31,421.2 billion Vietnamese dong (Approximately 1.95 billion yen)
2019)(5) Date of Establishment May 9, 2007
(6) Main business
Import and export, wholesale of LP gas
activities(7) Listing Category
Listed in the Ho Chi Minh Stock Exchange (security code:PMG)
Approx. 1.3529 trillion Vietnamese dong (Approximately 6.28
(8) Consolidated Net
billion yen)
Sales
(Fiscal Year ended
December 2019)*Exchange rate as of June 30, 2020 (1 Vietnamese dong = 0.00464 yen) is used for yen amount(hereinafter the same)
3． Overview of target companies[MTG](1) Company nameMIEN TRUNG GAS JOINT STOCK COMPANY(2) LocationQuang Nam Province, Socialist Republic of Vietnam(3) Name ofNguyen Tien Lang
representative(4) Capital(As of December 31,180 billion Vietnamese dong (Approximately 840 million yen)
2019)(5) Date of Establishment July 11, 2001
(6) Shareholder
TOKAI 45%, PETRO CENTER 51%, Others 4%
Composition (Afterinvestment)(7) Main businessLP gas wholesale businessactivities[V-GAS](1) Company name(2) Location(3) Name ofrepresentative(4) Capital(As of December 31,2019)(5) Date of Establishment(6) Shareholder
Composition (Afterinvestment)(7) Main businessactivities

V-GAS PETROLEUM CORPORATION
Dong Nai Province, Socialist Republic of Vietnam
Nguyen Hoang Gia
225 billion Vietnamese dong (Approximately 1.04 billion yen)August 13, 2014
TOKAI 45%, PETRO CENTER 51%, Others 4%
LP gas wholesale business, container manufacturing business4． Future outlook
The impact of the transaction on the Company's consolidated operating results for the fiscal year ending
March 2021 is recognized as insignificant.
Contact: Yoshihiro Taniguchi
Public Relations and Investor Relations Office
TEL: +81-(0)3-5404-2891
Email: overseas_IR@tokaigroup.co.jp