We are pleased to announce new partnership with Showa Metal Co., Ltd (Showa). for processing and recycling titanium, special alloys and rare metal scraps. In addition, we have reached an agreement that we will acquire 51% of Showa’s shares by April 1, 2010.

Under the current ever-changing globalized market circumstances with growing needs for high quality recycling/processing systems to accommodate new materials and new technology as well as the domestic/foreign regulations, this partnership aims at the following:

• more competitiveness
• efficient management
• expansion to wider market areas
• higher ability of processing the resources
• versatility to meet various needs from customers

We are enthusiastic about this new relationship and are committed to more customer-oriented organization.

Showa Metal Co., Ltd.