News Release(Jan 26, 2004)

Inabata achieves 156,000 ton production capacity in resin coloring and compounding business

On 26th January, Inabata announced the establishment of a resin coloring and compounding plant in Guangdong., China; our third such plant in that country. We also announced that our resin coloring and compounding plant established in Vietnam last year has gone into full-scale production. Inabata now has resin coloring and compounding businesses in ten locations in seven countries, with an annual production capacity of 156,400 tons.

Our new plant, Dongguan Sanyo-IK Engineering Plastics Co. Ltd., has a capital of $3,000,000. It was established on 17th January, with 80% investment from Inabata's Hong Kong affiliate, Inabata Sangyo (HK) Ltd., 10% investment from Sanyo-IK Color (H.K) Ltd., the compounding business set up as a joint venture between Inabata and Sanyo Kako Co. Ltd, and the rest of the investment from local capital provided by the Dongguan Shi Long Yue Long Industrial Co.

Until now, at the Sanyo-IK Color Dongguan Plant, Inabata has been expanding its resin coloring and compounding business aimed at manufacturers of office automation and audio visual products for reexportation. At the new plant, which has been set up on a neighboring site, our aim is to develop the Chinese domestic market, with a particular emphasis on automobile-related products. Dongguan Sanyo-IK Engineering Plastics Co. Ltd., is set to achieve a 6,000 ton production capacity in 2004, and the Sanyo-IK Color Dongguan plant is also expected to increase its annual production capacity by 4,000 tons to 28,000 tons. With the 8,400 ton yearly production capacity of Inabata Industry & Trade (Dalian F.T.Z.) Co., Ltd., Inabata's annual production capacity in its coloring and compounding businesses in China will reach 42,400 tons.

Meanwhile, our overseas affiliate, SIK Vietnam Co., Ltd., which has been carrying out test production since its establishment in March 2003 in the Nomura-Haiphong Industrial Zone on the outskirts of Hanoi, began full-scale production on 26th January, with an annual capacity of 7,200 tons.

In Vietnam, Inabata's Singapore affiliate, Inabata Singapore (Pte.) Ltd. set up a representative office in Ho Chi Minh City in 1996. SIK Vietnam is Inabata's second major base in this country.

SIK Vietnam has a capital of $1,500,000, 90% of which has been invested by Inabata Singapore, and 10% by SIK Thailand, the compounding business set up in Thailand as joint venture between Inabata and Sanyo Kako Co., Ltd.

SIK Vietnam has begun full-scale shipments, targeted towards Vietnam's Japanese-affiliated office automation companies and on consumer electronics manufacturers.

Further Information
1) Dongguan Sanyo-IK Engineering Plastics
Name: Dongguan Sanyo-IK Engineering Plastics Co. Ltd.
Established: January, 2004
Capital: $3,000,000
Inabata Sangyo (HK) 80%, Sanyo-IK Color (HK) 10%,
Dongguan Shi Long Yue Long Industrial Co.., 10%
Representative: Shu Nishimura
No. of Employees: 40
Description of Business: Resin coloring and compounding
(6,000 ton annual production capacity)
Address: Xi Hu Industrial District
Wen Quan Lu
Shi Long Zhen
Dongguan
Guangdong
China
Tel: 86-769-611-1088 (Sanyo-IK Color Dongguan plant direct line)
Fax: 86-769-611-1039 (Sanyo-IK Color Dongguan plant direct line)

2) SIK Vietnam
Name: SIK Vietnam Co., Ltd.
Established: March, 2003
Capital: $1,500,000
(Inabata Singapore 90%, SIK Thailand 10%)
Representative: Hideto Monji
No. of Employees: 40
Description of Business: Resin coloring and compounding
(Annual production capacity 7,200 tons)
Address: Nomura-Haiphong Industrial Zone
Anhai District
Haiphong City
Vietnam
Tel: 84-31-618660
Fax: 84-31-618661

General outline of coloring and compounding business:
040126_01.gif

For further information about this news release, please contact:
Inoue Public Relations Inc.
Inabata Press Officer: Minamimiru (minamiru@inoue-pr.com )
Tel :03-5269-2301

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