NOTE: This document has been translated from the Japanese original for reference purposes only. In the eventof any discrepancy between this translated document and the Japanese original, the original shall prevail.

For immediate release
April 1, 2022
Kyudenko Corporation

Notice Concerning Acquisition of Kirishima Wood Biomass Power Co., Ltd. as a
Subsidiary through a Share Transfer
Meeting on March 28, 2022, the Board of Directors of Kyudenko Corporation (Head Office: Fukuoka, Fukuoka
Prefecture; President: Naofumi Sato) resolved to acquire Kirishima Wood Biomass Power Co., Ltd. (“KWBP”)
as a subsidiary through a share transfer. The two companies subsequently entered into a share transfer agreement
on April 1, 2022, to complete the acquisition.
◼ Purpose of acquisition of shares
As decarbonization initiatives by local governments, businesses, and private individuals accelerate following
the Japanese government’s October 2020 declaration of its goal of achieving carbon neutrality by 2050,
Kyudenko has worked to implement environmental management, including by establishing associated mediumand long-term goals and approving recommendations issued by the Task Force on Climate-related Financial
Disclosures (TCFD).
Although Kyudenko has participated in a broad range of renewable energy projects since launching its solar
power business in 2012, the acquisition of KWBP marks the first time it will operate a biomass power project
as the largest shareholder.
By facilitating stable power generation, wood biomass-fueled power is an energy source that can revitalize local
economies while stimulating the forestry industry and playing an important role as a decentralized source ofpower predicated on the principle of local production and local consumption.
Going forward, Kyudenko plans to pursue additional initiatives to help realize the decarbonized society of thefuture, including by moving further away from carbon dependence through the licensing of technologies used
to operate its wood biomass power business in Miyazaki Prefecture and by working to further revitalize theforestry industry in the Kirishima region.
In addition to actively pursuing the renewable energy-based power business by dedicating resources todecarbonization initiatives that are conceived to contribute to the formation of an environmentally friendlysociety, Kyudenko looks forward to helping build a sustainable society by using the business expertise it has
accumulated to propose solutions that are geared towards decarbonization.

■ Business overview
NameAddress
CapitalRepresentative
Power output
Annual generating
capacity
Fuel
Start of operation
Major shareholder
Business
Subsidiary

Kirishima Wood Biomass Power Co., Ltd.
4755-4 Kirishima-nagamizu, Kirishima-shi, Kagoshima Prefecture¥300 million
Yujiro Kishida, President and CEO(Mr. Kishida also serves in the following positions at Kyudenko: OperatingOfficer; Deputy Manager, Green Innovation Division; and Manager, International
Business Department.)
5,750 kW (about 4,900 kW of which is sold [enough to power about 10,000households])
About 40 million kWhWood chips (about 72,000 tons per year)
June 2015
Kyudenko: 95%
Generation and sale of wood biomass power
Kirishima Wood Fuel Co., Ltd. (a wholly-owned subsidiary of Kirishima WoodBiomass Power Co., Ltd.)

Reference: Power plant location

Reference: View of plant