Lumber-Related Products

N&E Co., ltd.

Production of MDF (medium-density fiberboard) Neo Board 395-6 Wadatsubiraki-cho Aza Kita, Komatsushima-shi, Tokushima 773-0020 Japan Tel: +81-855-37-1153 / Fax: +81-885-37-3180 Investment ratio：70%

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Nichimoku Fancy Materials Co., ltd.

Production and sale of interior and exterior decoration materials that wrap sliced veneer and decorative sheets 17-1 Nekoda, Hino-cho, Gamo-gun, Shiga 529-1646 Japan Tel: +81-748-52-0333 / Fax: +81-748-52-4713 Investment ratio：100%

Website

Nichimoku Pallet Co., ltd.

Production and repair of wood pallets 798 Hina, Fuji-shi, Shizuoka 417-0847 Japan Tel: +81-545-34-7150 / Fax: +81-545-39-0551 Investment ratio：100%

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Iwaki Lumber Industry Co., ltd.

Made-to-order residential insulation materials and heat insulation work 2-34 Izumimachitakijiri Aza Kameishi-cho, Iwaki-shi, Fukushima 971-8182 Japan Tel: +81-246-56-5335 / Fax: +81-246-56-6941 Investment ratio：100%

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Forest Management, Material Production, and Chip Production

Nichimoku Rinsan Hokkaido Co., ltd.

Commissioned business of forest management and made-to-order wood chips 110-13 23 2jyoudoori, Asahikawa-shi, Hokkaido 078-8212 Japan Tel: +81-166-73-6950 / Fax: +81-166-73-6951 Investment ratio：27.7%

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Nichimoku Forest Co., ltd.

Material production, made-to-order wood chips, and industrial waste disposal business 110-13 23 2jyoudoori, Asahikawa-shi, Hokkaido 078-8212 Japan Tel: +81-166-73-5419 / Fax: +81-166-73-5420 Investment ratio：100%

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Nanei Co., ltd.

Commissioned business of forest management, material production, wood chip production, and industrial waste disposal business 677-1 Hioki-machi, Yatsushiro-shi, Kumamoto 866-0896 Japan Tel: +81-965-34-5185 / Fax: +81-965-32-6970 Investment ratio：100%

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Coastal Shipping Business

Iwakuni Kaiun Co., ltd.

Maritime transport business, coastal shipping business, and shipping agency business 2-6-2 Shinminato-machi, Iwakuni-shi, Yamaguchi 740-0002 Japan Tel: +81-827-21-6167 / Fax: +81-827-22-1120 Investment ratio：100%

Papermaking Material,Fuel Business

Refine Rubber Co., ltd.

Manufacture and sale of recycled tire chips for fuel 798 Hina, Fuji City, Shizuoka Prefecture 417-8520, Japan Investment ratio：60%

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NPL RESOURCES ASIA CO., LTD.

Procurement of wood chips and wood pellets Room 904B, 9th Floor, No. 2A–4A Ton Duc Thang Street, Saigon Ward, Ho Chi Minh City, Vietnam Investment ratio：100%

Other investment companies

Green Power Fuel Corporation

Procurement and sales of fuel for power generation from domestic timber 5-11, Doshomachi 3-chome, Chuo-ku, Osaka-shi, Osaka 541-0045, Japan

Abashiri Biomass limited liability company No.2 Power Plant

Biomass power generation business 4 Notoro-minatomachi, Abashiri, Hokkaido, 093-0131, Japan (in Notoro Industrial Park)

Abashiri Biomass limited liability company No.3 Power Plant

Biomass power generation business 4 Notoro-minatomachi, Abashiri, Hokkaido, 093-0131, Japan (in Notoro Industrial Park)