Moral Corporation Y.K. agreed to acquire an additional 13.34% stake in Asaka Riken Co., Ltd. from M&F Co., Ltd.

Asaka Riken Co., Ltd. mainly operates in precious metal business and environment business. The Company operates in three segments. The Precious Metal segment is engaged in the separation, recovery, restitution and sale of precious metal such as gold, silver, platinum and palladium from substrate chips, defective products and waste. Its main products and services include gold bullion, silver bullion, platinum bullion and palladium, the recovery and processing of precious metal, the cleaning and recycle of jigs and the recycle of functional components. The Environment segment is engaged in the delivery and recycle of ferric chloride waste fluid, and the recovery and sale of copper. Its main products include aqueous ferric chloride, water treatment agent, copper powder and photocatalyst, among others. The System Entrusted Development segment operates in system entrusted development business. The Company also operates transportation business.