Tianjin Hengruixiang Trading Co., Ltd. and Zhang Junhua agreed to acquire Planer (Tianjin) Advanced Plastic Products Co., Ltd. from Kodama Chemical Industry Co. Ltd. (TSE:4222) for CNY 17.7 million on January 24, 2013. Tianjin Hengruixiang will acquire 80% stake and Zhang Junhua will acquire 20% stake in Planer (Tianjin) Advanced Plastic Products.

The Board of Directors of Kodama Chemical Industry resolved to transfer the shares in Planer (Tianjin) Advanced Plastic Products on January 24, 2013. The deal is subject to approval from the Chinese government and foreign currency transfer. The share transfer agreement is expected to be signed on January 28, 2013.

The transaction is expected to close around May 2013.