This document is an English translation of a news release on March 19, 2019, made initially in Japanese.
The Japanese original should be considered as the primary version.
Company:Representative:
Stock code:

Itochu Enex Co., Ltd.
Kenji Okada, Representative Director, President and CEO8133, Tokyo Stock Exchange, 1st Section

Itochu Enex Co., Ltd.
Oji Holdings Corporation

Itochu Enex and Oji Holdings announce the formation of a joint venture forbiomass power generation
Itochu Enex Co., Ltd. (CEO: Kenji Okada, headquartered in Chiyoda-ku, Tokyo, hereafter Enex) and Oji Holdings
Corporation (CEO: Susumu Yajima, headquartered in Chuo-ku, Tokyo) announce that the companies have agreed
to construct a biomass power plant in Anan City, Tokushima for the power generation business. Details are asfollows.
1. About the JV
The companies have examined the formation of a joint venture for electric power business in the power generationand power selling fields using the management resources and the knowhow on the electric power business of eachcompany. Following the establishment of the electric power sales joint venture company in March 2015, thecompanies have agreed to implement the biomass power generation business using the Feed-in Tariff Program forRenewable Energy (“FIT Program”). By implementing this business, the companies will contribute not only to thestable supply of power but also to the prevention of global warming and the realization of a low-carbon society.
2. About the Power Generation Business JV CompanyOji Green Energy Tokushima Co., Ltd.
・CEO: Yuji Onuki
・Headquartered at 4-7-5 Ginza, Chuo-ku, Tokyo
・Paid-in capital: 100 million yen・Investment Ratio： Oji Green Resources Co., Ltd. (wholly owned subsidiary of OjiHoldings): 80%
ENEX Electric Power Co., Ltd. (wholly owned subsidiary of Itochu
Enex): 20%
3. About the Biomass Power Generation Facility
・Installed in: Anan City, Tokushima (in the Tomioka Plant of Oji Paper Co., Ltd.)・Generated output： About 75,000 kW
・Generated energy： About 520 million kWh/year (equivalent to power consumed by about 170,000 households)
・Sales: About 13 billion yen/year
・Fuel to be used: Woody chip and others
・Capital investment: About 23 billion yen
・Operation scheduled to start in: September 2022

For further information, please contact:
Yuji Onuki, Executive Director of Oji Green Resources Co., Ltd. (+81-3-3563-4392)
Hiroyuki Kunisada, Manager of Itochu Enex Co., Ltd, Corporate Communication Office (+81-3-4233-8003)

4. About related parties
Oji Holdings Corporation
・Headquartered at 4-7-5 Ginza, Chuo-ku, Tokyo
・CEO: Susumu Yajima
・Incorporation: August 1949
・Main business: holding company
・Paid-in capital: 103,803 million yen
・Sales: 1,485,895 million yen (consolidated, fiscal year ending in March 2018)
・36,144 employees (consolidated as at the end of March 2018)
Itochu Enex Co., Ltd.
・Headquartered at 3-2-5, Kasumigaseki, Chiyoda-ku, Tokyo・CEO: Kenji Okada
・Incorporation: January 1961
・Main business: petroleum products, LP gas sales, power generation and mobility
・Paid-in capital: 19,877 million yen
・Sales: 1,156,344 million yen (consolidated, fiscal year ending in March 2018)
・5,613 employees (consolidated as at the end of March 2018)
Oji Green Resources Co., Ltd.
・Headquartered at 4-7-5 Ginza, Chuo-ku, Tokyo・CEO: Fumio Shindo
・Incorporation: October 2012
・Main business: pulp, wood products, plantation and energy business・Paid-in capital: 350 million yen
・Investment ratio: Oji Holdings Corporation (100%)・40 employees (as of the end of March 2018)
ENEX Electric Power Co., Ltd.
・Headquartered at 3-2-5, Kasumigaseki, Chiyoda-ku, Tokyo
・CEO: Makoto Shimizu
・Incorporation: August 2002
・Main business: production and sales of steam and power products
・Paid-in capital: 100 million yen
・Investment ratio: Itochu Enex Co., Ltd. (100%)
・104 employees (as of the end of March 2018)