On November 29 Air Water got a transfer from Tokyo Electric Power Company of 15% outstanding shares issued by Kanto Natural Gas Development who engages in the resource development and sales of natural gas with its business base in Chiba Prefecture. Air Water is the second largest shareholder now of Kanto Natural Gas Development.

Kanto Natural Gas Development is one of the only few domestic companies who engage in the development of natural gas. It supplies 160 thousand households in Chiba Prefecture through city gas conduits with natural gas produced from the southern Kanto gas field (a recoverable reserve of 3,685m3) which is largest scaled in Japan. It also sells brine water as well as iodine contained in water-soluble natural gas.The breakdown of business is: natural gas 90%, iodine and brine water 5% and construction etc. 5%. Last year sales amounted to ￥57.2 billion (up by 11% over a year earlier) with ordinary income at ￥3.6 billion (down by 7%) and the net income for the year came to ￥1.8 billion (up by 22% over a year earlier)

Air water turned to this capital tie-up in this September in response to the reported proposal for sale of shares of Kanto Natural Gas Development by Tokyo Electric Power who is its largest shareholder.

Air Water acquired 9.15 million shares of Kanto Natural Gas Development for about ￥3.9 billion from Tokyo Electric Power through an off-market trading.

It follows that Air Water is going to seek a way to create synergy effects of business in relation with the company. It is expected that Air Water will not only expand its activities in its energy business but also develop applications of brine water or iodine to medical and agricultural fields.