Ichigo : Solar Power Generation and CO2 Reduction Data – December 2017

Ichigo Preserves and Improves Real Estate

[Provisional Translation Only]

This English translation of the original Japanese document is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

January 11, 2018

Ichigo Inc. (Tokyo Stock Exchange First Section, 2337)

Representative: Scott Callon, Chairman

Inquiries: Takeyuki Yoshimatsu, Executive Managing Director Telephone: [phone]www.ichigo.gr.jp/en

Solar Power Generation and CO2 Reduction Data - December 2017

FY18/2
Power Generation (kWh)				CO2 Reduction (kg-CO2)1
Ichigo (A)	Ichigo Green* (B)	Total (A) + (B)	YOY	Ichigo (C)	Ichigo Green* (D)	Total (C) + (D)
March	3,315,062	2,905,472	6,220,534	+23.8%	2,187,941	1,917,611	4,105,552
April	3,496,984	3,061,133	6,558,118	+29.7%	2,308,009	2,020,348	4,328,357
May	3,984,605	3,236,862	7,221,468	+21.4%	2,629,839	2,136,329	4,766,169
June	3,673,773	2,879,609	6,553,382	+34.3%	2,424,690	1,900,542	4,325,232
July	3,087,231	3,856,562	6,943,793	+12.7%	2,037,572	2,545,331	4,582,903
August	2,999,078	3,482,706	6,481,784	+3.6%	1,979,391	2,298,586	4,277,977
H1	20,556,735	19,422,346	39,979,081	+20.0%	13,567,444	12,818,748	26,386,193
September	7,518,235	3,076,829	10,595,064	+147.9%	4,962,035	2,030,707	6,992,742
October	5,482,282	2,630,169	8,112,452	+73.6%	3,618,306	1,735,912	5,354,218
November	6,104,568	2,234,146	8,338,714	+123.6%	4,029,014	1,474,536	5,503,551
December	5,275,269	1,927,896	7,203,165	+132.1%	3,481,677	1,272,411	4,754,089
January	-	-	-	-	-	-	-
February	-	-	-	-	-	-	-
H2	-	-	-	-	-	-	-
Full Year	-	-	-	-	-	-	-

* Ichigo Green Infrastructure Investment Corporation ("Ichigo Green," 9282)

Explanation

December Ichigo and Ichigo Green solar power generation was 7,203,165kWh, in line with the forecast and a 132% increase year-on-year due to the launch of the Ichigo Showamura Ogose ECO Power Plant, the Tokyo region's largest solar power plant, on September 2, 2017.2

• 1 CO2 reduction is calculated as 0.66kg CO2 per kWh.

• 2 Forecast power generation is a third-party, 50% probability mean annual production forecast (P50 forecast) that serves as the base forecast for each solar power plant's operating plan.

Reference: FY17/2 (March 2016 - February 2017)

FY17/2
Power Generation (kWh)				CO2 Reduction (kg-CO2)1
Ichigo (A)	Ichigo Green* (B)	Total (A) + (B)	YOY	Ichigo (C)	Ichigo Green* (D)	Total (C) + (D)
March	5,024,560	5,024,560	+56.9%	3,316,209	3,316,209
April	5,056,266	5,056,266	+45.5%	3,337,135	3,337,135
May	5,949,535	5,949,535	+44.3%	3,926,692	3,926,692
June	4,881,431	4,881,431	+33.3%	3,221,744	3,221,744
July	6,160,967	6,160,967	+50.9%	4,066,238	4,066,238
August	6,255,441	6,255,441	+64.1%	4,128,591	4,128,591
H1	33,328,202	33,328,202	+49.1%	21,996,612	21,996,612
September	4,273,439	4,273,439	+16.8%	2,820,470	2,820,470
October	4,672,403	4,672,403	+13.6%	3,083,786	3,083,786
November	3,729,095	3,729,095	+49.1%	2,461,203	2,461,203
December	1,554,909	1,548,752	3,103,662	+15.7%	1,026,240	1,022,176	2,048,417
January	1,786,894	1,800,663	3,587,558	+41.3%	1,179,350	1,188,438	2,367,788
February	2,274,092	2,099,909	4,374,001	+25.2%	1,500,900	1,385,940	2,886,841
H2	18,290,836	5,449,326	23,740,162	+25.0%	12,071,951	3,596,555	15,668,506
Full Year	51,619,038	5,449,326	57,068,365	+38.0%	34,068,563	3,596,555	37,665,119

Ichigo Green acquired thirteen solar power plants from Ichigo and listed on the Tokyo Stock Exchange on December 1, 2016.

Detailed production data for each Ichigo and Ichigo Green solar power plant is available on the website of Ichigo ECO Energy:www.ichigo.gr.jp/en/eco