Tokuyama Corporation (hereinafter referred to as "Tokuyama" or "the Company") resolved at a meeting of its Board of Directors held today to transfer 50% of the shares (hereinafter referred to as "the Transfer") of its wholly owned subsidiary in Taiwan, Taiwan Tokuyama Corporation (hereinafter referred to as "TTC") to Formosa Plastics Corporation (hereinafter referred to as "FPC").

The Company and FPC established a joint venture company, Formosa Tokuyama Advanced Chemicals Co., Ltd. (hereinafter referred to as "FTAC"), in Taiwan in October 2020, for the purpose of manufacturing and selling high-purity isopropyl alcohol for the electronic manufacturing (hereinafter referred to as "high-purity IPA"), and have taken steps to engage in high-purity IPA business activities. Meanwhile, TTC was established in August 1996 as a filling and shipping base for high-purity IPA manufactured in Japan, and continues to function as an important base for this business. The Transfer in this instance is designed to further develop and expand the business through integrated management of FTAC and TTC and collaboration with FPC.

Recognizing that TTC will remain a consolidated subsidiary of the Company after the Transfer, no profit or loss is expected to arise.

1. Outline of the Subsidiary Subject to Share Transfer

2. Outline of the Other Party to the Share Transfer