Notice Concerning Establishment of "Myoko Green Energy Co., Ltd."

September 27, 2021

JFE Engineering Corporation

HOKURIKU GAS CO., LTD

INPEX CORPORATION (INPEX)

TOKYO, JAPAN -JFE Engineering Corporation, HOKURIKU GAS CO., LTD andINPEX CORPORATION(hereinafter "consortium") jointly announced today they have established "Myoko Green Energy Co., Ltd." (the company) for the purpose of inheriting a gas business and contracting public water and sewage management work from the Myoko City municipality in Niigata Prefecture, Japan.

The company and Myoko City entered a "provisional agreement on the transfer of a gas business in Myoko City" as well as a "provisional agreement on the private sector commissioning of a public water and sewage business in Myoko City" on August 25, 2021 and came into effect on September 24, 2021 after the Myoko City Council passed ordinances related to the transfer of its gas business. Based on these agreements, the company will commence business operations on April 1, 2022 as Japan's first comprehensive utility company responsible for the three businesses of gas, water supply and sewerage.

Myoko Green Energy Co., Ltd. will aim to become locally rooted and create an urban environment in Myoko City where citizens can live safely and with peace of mind. The company will seek to expand its public utility services in the future beyond gas, public water and sewage to include new business areas such as retail power and renewable energy toward the creation of a low-carbon society, and contribute to the creation of a sustainable city where people and nature coexist.

About the new company

Name

Myoko Green Energy Co., Ltd.

Headquarters

3-20, Nakagawa Myoko City, Niigata Prefecture, Japan.

CEO

Shuichi Akazawa

Areas of business

Gas supply business and public water and sewage business

Capital

450 million yen

Date of establishment

August 2, 2021

Shareholders

JFE Engineering Corporation (51％)

HOKURIKU GAS Co., Ltd. (44％)

INPEX CORPORATION (5％)

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Inpex Corporation published this content on 27 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2021 02:11:04 UTC.