Okaya & Co. Ltd. has decided to establish a manufacturing and sales company for automotive press mold castings jointly with KOGI CORPORATION in Nantong, Jiangsu Province, China. Okaya & Co.

Ltd. and KOGI CORPORATION established Tianjin Rainbow Hills Cast Iron Co. Ltd. in Tianjin, China in 2004 and have been manufacturing and selling automotive press mold castings since then. Now, the local demand is so large that the current production capacity of the company has been surpassed by the demand.

Also, since the explosion accident in Tianjin in August 2015, the company has been reviewing the arrangement of its production system in case of emergency. This time, to enhance the production capacity, to arrange a production system that can withstand an emergency, and to enhance the sales power around Shanghai and expand sales in the districts of Guangzhou and Chongqing, the company established the new company in Nantong, Jiangsu Province. Corporate name: Nantong Rainbow Hills Cast Iron Co.

Ltd. (Temporary Name); Location: Nantong, Jiangsu Province, People's Republic of China; Establishment: May 2016 (scheduled); Capital: USD 15 million (approximately JPY 1.65 billion); [Ratios of contribution] KOGI CORPORATION: 51%, Okaya & Co. Ltd.: 49%; Representative: to be decided; Business purpose: Manufacturing and sales of automotive press mold castings; Business commencement: June 2017 (scheduled).