News Release

1969 Concluded sole sales agent agreement with Lohman and Stolterfoht, a group company of Mannesmann, Germany, regarding sales of coupling, Clutch and reduction gear box for marine engine. Sumitomo Heavy Industries produced these machineries under license agreement and we undertook sales. We have sold products equivalent to 3.5 million horse power to both domestic and international ships. This transaction contributed to further improvement of our technology, as well as expansion of our transaction with major shipbuilders and heavy machinery producers. We also had the opportunity to exchange technologies with German companies to expand our line up of products.