Sales by subsidiary companies and technical licensing to joint venture companies to manufacture our products.

We established a joint venture company “Shoei Industrial Heating Equipment Shanghai Co., Ltd.” in October 2005 and “Shoei- Exstar Engineering Co., Ltd.” (Currently “Shoei Mfg. (Thailand) Co., Ltd.”) in February 2007. We license them our technology to manufacture our products. And in May 2011, we established our 100% subsidiary sales company “Nippon Crucible (Shanghai) Co., Ltd.” (promoted “Nippon Crucible Shanghai liaison office” registered in January 2009) as our new base for the business in Asian countries and will positively expand business worldwide.

○Overseas business

Mel-Keeper

With the overseas manufacturing bases in China, Thailand, Germany, USA, Mexico and Brazil, we will establish joint venture company to license our technology. They are manufacturing refractory such as trough material and taphole mixture, and also making licensing production of aluminum rapid melting furnace “Jet Melter”. We aim to establish new joint venture company in China to make overseas base in China.

○Export

We export refractory including crucibles and melting furnace equipment including Mel-Keeper to Korea, China, Taiwan, Thailand, Indonesia, Philippines and Australia, USA and Europe.