TABUCHI ELECTRIC CO., LTD.

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Company Information To grow and continue to lead as a sustainable earth-friendly company. TABUCHI ELECTRIC CO., LTD. TABUCHI ELECTRIC CO., LTD. Head Office Nissay Shin-osaka Bldg., 3-4-30 Miyahara, Yodogawa-ku, Osaka, 532-0003 Japan TEL +81-6-4807-3500 FAX +81-6-4807-3502 Tokyo Office Kinsan Bldg., 3-18-3 Kanda Nishiki-cho, Chiyoda-ku, Tokyo, 101-0054, Japan TEL +81-3-5259-6250 FAX +81-3-5259-6251 http://www.zbr.co.jp

Histor y of TABUCHI Innovate for a sustainable future We will contribute to the development of various industries and lead the ecology-era. Our challenge as Tabuchi Electric never ends. In 1925, Tabuchi Electric was founded in Osaka, Japan as a silicon steel pressing company. Tabuchi Electric has expanded its business through our philosophy, Contributing to the public through manufacturing high quality products with customer- first mind. Following the establishment of our silicon steel pressing business, we expanded into the manufacturing of transformers and power supply units. We have provided parts and products that have been used for energy- saving products and home appliances worldwide. Furthermore, applying the knowledge we gained from transformer and power supply technology, we forayed into the power electronics business by beginning development of PV inverters in 1995. With the intention of providing a Total Energy Solution, we continue to expand our lineup through the development of products for Mega Solar generation and battery storage for our residential PV inverters. We shall contribute to the realization of a greener society and enrich the lives of people worldwide by providing products that use and manage energy efficiently. Tabuchi Electric will relentlessly pursue the infinite possibilities of the Power Electronics industry in fields such as automotive, industrial, and healthcare equipment through the fusion of our core technology with cutting-edge technology. 1925 The company was founded as a private business by Shigeru Tabuchi in Osaka, Japan. 1935 The company was incorporated. 1940 The Electrical Equipment Division was established to create a transformer manufacturing business. 1949 Manufacture of transformers commenced and the products were given the brand name ZEBRA. 1958 Began to provide custom-designed transformers to home appliances manufacturers. 1966 Tabuhi factory recognized as JIS (Japanese Industrial Standards) authorized manufacturer. 1967 (current mother plant) built new factory in Tochigi, Japan. 1972 Korea Co., Ltd. (joint venture) was established in Seoul, South Korea. 1976 Commenced manufacture of power supply units. 1979 Tabuchi Electric Company of America was established in Tennessee, U.S.A. (Production ceased in 1988) 1985 Tabuchi Electric U.K. Ltd. was established in Cleveland, U.K. (closed in 2004) Tabuchi Electric Co., Ltd. listed on the Second Section of the Osaka Securities Exchange. 1986 Tabuchi Electric de Mexico, S.A. de C.V. was established in Tijuana, Mexico. (Closed in 2009) 1987 was established in Chachoengsao, Thailand. 1991 Sanda manufacturing facility was opened in Hyogo, Japan, and production started. (Production ceased in 2002) 1995 Shanghai Tabuchi Co., Ltd. was established in Shanghai, China. 1997 Commenced manufacture of PV solar inverters. 2000 was established in Kowloon, Hong Kong. Dongguan Tabuchi Electric Factory opened. 2001 Korea Co., Ltd. began to produce magnet wires in Yantai, China. 2007 was established in Bac Ninh Province, Vietnam. 2012 Jiangxi Bicai Tabuchi Co., Ltd. (joint venture) was established. Tokyo branch office relocated to Kanda, Tokyo. 2013 The head office of Tabuchi Electric Company of America was moved to San Jose, California. 2014 Headquarters relocated to Nissay Shin-osaka Bldg., Osaka, Japan. Chubu office was opened in Toyohashi, Japan. Bangkok office was opened in Bangkok, Thailand. 2015 Tabuchi Electric Co., Ltd. listed on the First Section of the Tokyo Stock Exchange. Tabuchi Electric Company of America, Toronto office was opened in Ontario, Canada. Acquired ownership of and Marschner GmbH & Co. KG Midori Shokai founded The first catalog of iron cores A Zebra transformer and brand logo Manufacture of power supplies Manufacture of PV Solar Inverters Corporate brand logo of Tabuchi Electric Co., Ltd.

Products and Power supply Since our founding in 1925, we endeavor to serve as a leader in delivering future-oriented, eco-friendly energy-related products. We will remain committed to contributing to a safer and greener future. The ZEBRA brand represents our total commitment to reliability. s We have been manufacturing various types of transformers since 1949, in multiple product categories: ranging from low-frequency to high-frequency models as well as customer-specific and custom transformers. We are currently in the process of developing wireless power transmission coils for the residential and commercial market that do not require metal contacts or connectors. Main products Reactors for air conditioners, harmonic filter reactors, high-voltage transformers for microwave ovens, current transformers, transformers for medical and industrial equipment, transformers for switching power supplies, electromagnets, field coils and many more. Power Supplies Since 1976, we have been offering custom-designed power supplies for various types of electrical equipment. Today, we are actively developing power supply units for next-generation lighting and in particular, special power supply equipment for medical and nursing applications. Main products Power supply units for LED lighting and flat panel displays (FPDs), ballast power supplies for projectors, medical power supplies, switching adaptors, microwave inverter units, power supply units for gaming machines, power storage systems and more.

Products Solar Inverter Main products PV solar inverters, Hybrid inverters designed for PV arrays and storage batteries, Distributed solar systems, and Monitoring systems. Residential Solar Inverters Solar Inverters are a key component in today's energy management systems. Due to tightening energy supply-demand balance, there are growing needs for energy solutions combining the following three technologies: - Energy Creation (generating electricity from renewable energy or fuel cells) - Energy Conservation (reducing electricity consumption of electrical home appliances or other industrial equipment) - Energy Storage (storing electricity in batteries and using electricity when necessary) Our products maintain the greatest share in the residential solar inverter market in Japan (in terms of the total wattage of products shipped). Due to the growing demand for renewable energy and its stable supply, we have applied storage function to our hybrid solar inverter that can "generate", "save" and "store" the energy. We have developed to a new stage of energy managemant with our technology. Commercial / Industrial PV Inverters We specialize in distributed PV systems to optimize solar power generation. We will open up the global commercial PV market with our newly developed three-phase 25kW inverter for distributed solar systems ideal for medium to large-scale plants. Monitoring systems Monitoring systems provide information on generated/sold power to the utility and also continually monitor the diagnostic status of the PV system. Future products from Tabuchi will enable users to monitor and control electrical home appliances using smart phones, PC and tablets.

Global TABUCHI Group Korea Co., Ltd. Shanghai Tabuchi Co., Ltd. Marschner Tabuchi Electric GmbH & Co. KG Jiangxi Bicai Tabuchi Co., Ltd. Tabuchi Electric Co., Ltd. Toronto Office Sales Office Factory Facilities in Japan Facilities outside Japan Tabuchi Electric Co., Ltd. head office Shanghai Tabuchi Co., Ltd. Nissay Shin-osaka Bldg., 3-4-30 Miyahara, Yodogawa-ku, Osaka, 532-0003, Japan TEL +81-6-4807-3500 FAX +81-6-4807-3502 No. 205, Fangsi RD., Si Jing District, Shanghai, 201601, China TEL +86-21-576-36475 FAX +86-21-576-36852 Korea Co., Ltd. 8th floor, DDS building, Doksan-Dong, Geumcheon-Gu, Seoul, Korea TEL +82-2-856-8951 FAX +82-2-864-2456 Tabuchi Electric Co., Ltd. Tokyo branch office Kinsan Bldg., 3-18-3 Kanda nishiki-cho, Chiyoda-ku, Tokyo, 101-0054, Japan TEL +81-3-5259-6250 FAX +81-3-5259-6251 88 Moo 5 Bangna-Trad Highway, Tambol Bangsamuk, Amphur Bangpakong, Chachoengsao, 24130, Thailand TEL +66-38-538-982 FAX +66-38-538-987 Solar Inverter Bangkok Office 540 Mercury Tower, Unit 12A03 Floor 12A, Ploenchit Road, Lumpini, Pathumwan, Bangkok, 10330, Thailand TEL +66-02-658-5593 FAX +66-02-658-5594 Tabuchi Electric Co., Ltd. Chubu office Terminal Plaza, 61 Shirakawa-cho, Toyohashi City, Aichi, 441-8021, Japan TEL +81-532-34-4550 FAX +81-532-34-4551 Unit 2606, 26F, Miramar Tower, 132 Nathan Road, Tsimshatsui, Kowloon, Hong Kong TEL +852-2563-9100 FAX +852-2563-9616 Qixia Economic Development Zone,Yantai, Shandong, China TEL +86-535-557-3141 FAX +86-535-557-3140 Jiangxi Bicai Tabuchi Co., Ltd. Chunshui RD. Yichun Economic Development Zone, Yichun City, Jiangxi, China TEL +86-795-2170998 FAX +86-795-2170996 5225 Hellyer Avenue, Suite 150 San Jose, CA, 95138, U.S.A. TEL +1-408-224-9300 Toronto Office 1475 Wakakusa 1-chome, Otawara City, Tochigi, 324-0021, Japan TEL +81-287-22-3885 FAX +81-287-23-6090 No.2, Industrial Zone, Hetain Village Houjie Town, Dong Guan City, Guangdong Province, China TEL +86-769-8583-2800 FAX +86-769-8583-2801 Solar Inverter Power supply Power supply 345 Tokawa, Hadano-city, Kanagawa, 259-1306, Japan TEL +81-463-75-4100 FAX +81-463-75-4109 Lot I3, Dai Dong Hoan Son Industrial Park, Bac Ninh Province, Vietnam TEL +84-241-384-7435 FAX +84-241-384-7437 151 Yonge Street, 11th Floor, Toronto, Ontario, Canada M5C 2W7 Marschner Tabuchi Electric GmbH & Co. KG Siemensstrasse 11 78564 Wehingen Germany TEL +49-7426 609-0 FAX +49-7426 609-10 7 8

Corporate Information Company overview Company name Tabuchi Electric Co., Ltd. Global Headquarters Nissay Shin-osaka Bldg., 3-4-30 Miyahara, Yodogawa-ku, Osaka, 532-0003 Japan Address Phone +81-6-4807-3500 (main number) Fax +81-6-4807-3502 Chairman Teruhisa Tabuchi President Toshihiro Kaihoshi Founded May 1925 Established December 1939 Business lineup Manufacture and sales of transformers for electronic equipment, power supply units for electronic equipment, and various electronic components Capital 3,611 million yen (as of March 2016) Sales 39,103 million yen (Fiscal year 2015 result) Number of employees 3,272 (as of March 2016) Business facilities Tokyo, Aichi, Tochigi, Kanagawa, Shanghai, Hong Kong, Dongguan, Hanoi, Bangkok, San Jose, Toronto, Wehingen (Germany) Products lineup Reactors for air conditioners, harmonic filter reactors, high-voltage transformers for microwave ovens, current transformers, transformers for medical and industrial equipment, transformers for switching power supplies, electromagnets and field coils. Power supply Assembly of PV Solar inverters, hybrid inverters for PV and Battery, switching power supply units, AC adaptors, battery chargers, electronic ballasts for lamps, inverters for magnetrons, power supply units for LED lighting, and much more various equipment Major shareholders TDK Corporation Midori Co., Ltd. Mizuho Bank, Ltd. Teruhisa Tabuchi The Zenitaka Corporation Japan Trustee Services Bank, Ltd. Chase Manhattan Bank GTS Clients Account Escrow Miyoshi Electronics Corporation Marubeni-Itochu Steel Inc. Sumitomo Mitsui Banking Corporation Subsidiaries Affiliated companies Shanghai Tabuchi Co., Ltd. Marschner Tabuchi Electric GmbH & Co. KG Korea Co., Ltd. Jiangxi Bicai Tabuchi Co., Ltd. Stock listing 1st section of the Tokyo Stock Exchange Changes in business results/business Records Sales 31,070 42,803 53,299 39,103 Sales by segment 7,656 23,413 business 8,992 33,810 9,148 44,150 Power supply business 9,158 29,945 Message from the Top Management Since our founding in 1925, we have contributed to the enhancement of people s lives by providing advanced, high-quality products to Japan s electronics industry. Electronic components such as our electromagnetic devices have helped Japan become a world leader in the industry. Solar PV inverters are currently our main products. They are a combination of our original components and the application of accumulated technical knowledge from the power electronics industry. In today s world, renewable energy is an important resource. By providing cutting-edge products, we believe that we are making a positive contribution to our society and the earth. We are driven to become leaders in the renewable energy business to support sustainable growth of the industry. We greatly appreciate all of your support and encouragement. Group Organization Chart Shanghai Tabuchi Co., Ltd. Marschner Tabuchi Electric GmbH & Co. KG Tabuchi Electric Subsidiaries Korea Co., Ltd. Jiangxi Bicai Tabuchi Co., Ltd. Affiliated Companies Board of Directors Chairman President Chairman Teruhisa Tabuchi Board of Auditors Executive Vice President President Toshihiro Kaihoshi Advanced Technology Research Lab. Management Control Division Sales and Marketing Division Procurement Division Production Division Engineering Development Managing Division Single Phase Inverter Engineering Division Three Phase Inverter Engineering Division Battery and Power Supply Engineering Division Electromagnetic Device Engineering Division Quality Control Division Tabuchi Electric Co., Ltd. FY FY FY FY FY FY FY FY