March 12, 2021
To whom it may concern,
Company: Tamagawa Holdings, Co., Ltd.
Representative: President, Toru Masuzawa(JASDAQ Code: 6838)
Contact: Management Planning Division, Ryota Tanaka
Tel: 03-6435-6933

Notice on Sellout of Solar Power Plant for Sale Which is Owned by the Subsidiary
Please be informed that we have decided on sellout of sellout of Nagasaki Prefecture, GotoCity, Kojindake Solar Power Plant (hereafter “Power Plant”) which GP Energy 2, Co., Ltd., ourconsolidated subsidiary owned, and have entered into the facility sales agreement as well as thesurface right assignment agreement.
1. Overview
The Power Plant had gained stable income from power selling including power from theextension which was announced in the “Notice on Power Selling at the Extension of Nagasaki
Prefecture, Goto City, Kojindake Photovoltaic Power Plant” dated March 25, 2020 as PR
information since we announced in the “Notice on Commencement of Power Selling at
Nagasaki Prefecture, Goto City, Kojindake Photovoltaic Power Plant” dated March 30, 2018.
However, in the recent secondary market, due to increase of desire from companies advocatingRE100 (Renewable Energy100) and investment companies, etc. listed in the listing
infrastructure market for purchase of renewable energy plant which has started operation, thePower Plant was changed into the asset for sale with the premise of sellout from the fixed asset
with assumption made in September 2019 on the future sellout.

In the plan of the beginning of

this term, we were planning to sell out other solar power plant than the Power Plant, but due tothe impact of demands and supplies of the market, we decided to sell out the Power Plant first.
As we carefully selected the purchaser and had a review, we comprehensively judged withpotential of investment to next business development, etc., and have decided on the sellout.
2. Description of the Power Plant(1) Facility name

Kojindake Solar Power Plant(2) Location

Yoshikugi-cho, Goto City, Nagasaki Pref.

(3) Purchase price

36 yen / kWh(4) Generation output

5,847kW(5) Power selling status

In operation

3. Overview of purchaser
As for the purchaser, while in accordance with the confidentiality agreement, we shall inevitably
refrain from announcing the details and sales price due to the purchaser’s strong request.

There

are no capital relationship, personal relationship or trading relationship between the purchaser
and us and our group, but there is a conclusion of the lease agreement.

However, the purchaser

is not applicable to the affiliate party.
We shall also refrain from announcing the details of the sales price under the confidentiality
agreement, but the sales price is more than the amount equivalent to 10% of the sales amount in
the latest accounting year (year ending March 2020) which is the timely disclosure standard, but
the profit is more than the amount equivalent to 30% of the operating profit, ordinary profit andthe current consolidated net profit belonging to the parent company of the immediate consolidated
accounting year.
4. Dates(1) Decision date: March 12, 2021
(2) Agreement date: March 12, 2021
(3) Delivery and settlement date: March 31, 2021

5. Future perspective
We except recording sales at the point of settlement of the Power Plant by the Sellout, but for
the impact on the consolidated performance of our group in the year ending March 2021, we havedisclosed the revision of the performance forecast since the sellout amount by sellout of the Power
Plant fell below our expectation.

Please see the “Notice on the Revision of PerformanceForecast” dated March 12, 2021 for the details.