February 16, 2017

Takihyo Co., Ltd. ("Takihyo") received a letter of appreciation for "IR Enlightenment Division" at the "Networking Event for Companies Listed on the Nagoya Stock Exchange" held by the Nagoya Stock Exchange, Inc. (Address: Nagoya, Aichi Prefecture President: Mr. Masaki Takeda) for being a company with a remarkably steady participation record at IR events hosted by the Nagoya Stock Exchange on February 15, 2017.

This letter of appreciation is presented to the company outstanding in areas such as increased individual investors, contribution to the Nagoya Stock Exchange and IR enlightenment. The winner is selected from the top 10 companies in "Increased Individual Investors Division", "Promoting the Nagoya Stock Market Division", "IR Enlightenment Division" and "Special Commendation Division" based on how high it ranks in the areas other than the one it reigns supreme.

Takihyo will continue to positively take up IR activities in order to fulfill our investors' expectations.

Mr. Kazuo Taki, C.E.O., Takihyo Co., Ltd. (2nd from left)	Being presented the letter of appreciation