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Extension of joint venture agreement signed with Shangyu Zili Industry New Material Co., Ltd

In April 2009, Tokyo Boeki Steel & Materials Ltd. extended the joint venture agreement for Shangyu Dongshun Refractory Co., Ltd. which is a joint venture company of Shangyu Zili Industry New Material Co., Ltd and Tokyo Boeki Steel & Materials Ltd.

On the occasion of Public listing of Shangyu Zili Industry New Material Co., Ltd., Mr Tanaka (President and CEO of Tokyo Boeki Steel & Materials Ltd) and Mr. Lieying Ma (President of Shangyu Zili Industry New Material Co., Ltd.) signed on the Amendment of the joint venture agreement.

Our history with Shangyu Zili Industry New Material Co., Ltd. goes back to 1989, when we started to supply their roseki bricks, and then ASC Bricks in 1993 into the Japan Market. Thereafter in 1996 we established Shangyu Dongshun Refractory Co., Ltd. as our second joint venture company in China. Today this venture company continues to supply refractory materials for Japan as our main business partner Refractory Manufacturer.