Creating peace of mind through honest and committed management.

[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

January 29, 2016
Ichigo Inc. (Tokyo Stock Exchange First Section, 2337)
Representative: Scott Callon, Chairman & Representative Statutory Executive Officer
Inquiries: Takeyuki Yoshimatsu, Senior Statutory Executive Officer
Telephone: +81-3-3502-4818
www.ichigo.gr.jp/english

Ichigo to Start Construction on First REAFF-Approved
Solar Power Projects in Kanto Region
Ichigo established Ichigo ECO Energy Co., Ltd. (“Ichigo ECO Energy”) and launched its ECO
renewable energy business in 2012 in order to contribute to a sustainable society. Ichigo ECOEnergy recently acquired certification for its Ichigo Toride Shimotakai Kita and Minami ECOPower Plants from Toride City, Ibaraki Prefecture, to convert former farmland into use for solar
energy generation under the Act on Promotion of Power Generation of Renewable Energy
Harmonized with Sound Development of Agriculture, Forestry, and Fisheries (“REAFF Law”).
These are the first REAFF-approved power plants to start construction in the Kanto region thatencompasses Tokyo.
The land for these projects had long been abandoned due to an aging and shrinking farming
population in the area and constraints on converting land classified as Category 1 farmland toother purposes. Under the REAFF Law, land owners and a project committee headed by Shingo
Fujii, the Mayor of Toride City, completed necessary procedures for conversion of the farmland
to solar energy generation.
Once the plants start operation, part of the solar power income will go to the project committee
to support the growth of regional agriculture, forests, and fisheries.
1. Power Plant Overview
Name

Ichigo Toride Shimotakai
Kita ECO Power Plant

Address

Shimotakai, Toride City, Ibaraki Prefecture

Panel Output
Annual Energy Output (P50)
Construction Schedule
1

1.03MW
1,171,800 kWh(provides power for
326 households1)

Ichigo Toride Shimotakai
Minami ECO Power Plant

0.54MW
609,500 kWh(provides power for
169 households1)

Construction starts in February 2016
Construction completed in June 2016 (expected)

Assumes annual consumption of 3,600 kWh per household (Reference: Federation of ElectricPower Companies of Japan)

12. REAFF Law
The purpose of the REAFF Law is to make necessary arrangements for appropriate land use,
promoting both the sound development of local agriculture, forestry, and fisheries andrenewable energy generation that is harmonized with the growth of regional industries, which
will thus contribute to revitalizing rural villages.
Since the nuclear plant accident in 2011, the Japanese government has endorsed renewableenergy by guaranteeing 20-year feed-in tariffs for renewable energy generation. Agriculturalland is generally suitable for solar energy generation, and by allowing the conversion offarmland to construct renewable energy plants in rural villages, part of the electricity income
can be used for the development of regional agriculture, forestry, and fisheries, thus revitalizing
such industries and promoting further introduction of such renewable energy facilities.
Under the REAFF law, conversion of farmland to other uses (which is generally prohibited) isallowed when carrying out activities that support the sound development of agriculture, forestry,and fisheries using the income generated from the non-farming activity.

3. Schedule
August 2015

Toride City REAFF Committee established(Committee members: Mayor of Toride City, land owners, chairman ofShimotakai regional development association, Toride City agriculture
committee, municipal government personnel, banks, and Ichigo ECOEnergy)

DecemberSubmitted solar power plant construction plan to Toride City
After Toride City approval, submitted the plan to Ibaraki Prefecture andthe Ministry of Agriculture, Forestry, and Fisheries (“MAFF”)

January 2016

Plan approved by MAFF and Ibaraki Prefecture
and certification from Toride City (January 22, 2016)

February

Groundbreaking ceremony and construction start(scheduled for February 10, 2016)

June

Construction completion (expected)

July

Operation start (expected)

4. Earnings Outlook
The impact of the construction of Ichigo Toride Shimotakai Kita and Minami ECO Power Plants
has already been reflected in Ichigo’s consolidated earnings forecast for FY16/2 announced inthe January 13, 2016 release “FY16/2 Full-Year Earnings Forecast Revision.”

Detailed production data for each Ichigo solar power plant is available on the website of Ichigo
ECO Energy: www.ichigo.gr.jp/eco/english2