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Notice of Capital Increase by Third Party Allocation and its Completion

May 19, 2009

On April 23, 2009, the board of directors of TOMOEGAWA Co. approved the increase of its capital by allocating new shares to four third-party investors, all of which are our valuable business partners in the business fields such as new product development activities, as well as production, sales, and logistics activities.

On May 19, 2009, the transaction was completed as scheduled. Nearly 1.8 billion yen in new paid-in capital was raised, and approximately 8.7 million new shares were issued and allocated to these third-parties.

Purpose of capital increase
Recording operating loss consecutively for two years with the increasing economic uncertainty, we believe that it is necessary to enhance stability of our financial position. With additional cash available, the company will be able to accelerate its new product development activities, which are essential to recovery and growth of this R&D oriented company.

Details of Capital Increase
1.Type of Newly Issued Stock Common Stock 8,779,000 shares
2.Issuing Price JPY 205 per share
3.Shareholder’s Equity Raised JPY 1,799,695,000
4.Amount Added to Stated-Capital Account JPY 103 per share
5.Total Amount Added to Stated Capital Account JPY 904,237,000
6.Total Amount Added to Capital Surplus JPY 895,458,000
7.Due Date for Application May 11, 2009
8.Date Paid-in Completed May 12, 2009
9.Parties Shares Allocated to Toppan Printing Co.  3,414,000 shares
Mitsui Chemical Inc. 2,439,000 shares
Suzuyo. Co.        1,463,000 shares
Shoei Printing Co.   1,463,000 shares

Numbers Shares Outstanding
 Before the deal 43,168,031 shares
 Newly issued shares 8,779,000
 After the deal 51,947,031

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