News Release

December 14, 2015

New Rice Cooking Plant in South Korea

First order from a delicatessen manufacturer for convenience stores in South Korea

Satake has received an order for a rice cooking plant from the South Korean delicatessen manufacturer "WOORI DELICA CO., LTD.", the operation already starting production from November 25th. This is the first order for such a system from that country. This manufacturer uses cooked rice to make lunch bags or rice balls, which are distributed to major convenience stores throughout South Korea.

IH rice cooking system "Cooking Meister"

Satake delivered the rice cooking plant to "Woori Delica Co., Ltd." who manufactures for sandwiches, lunch bags and delicatessen. The manufacturer is a subsidiary of a major South Korean convenience store operating company "GS Retail". In July, Satake received the order for the IH rice cooking system "Cooking Meister" through one of its dealers. Its capacity is approx. 4,200 meals per hour.

Growth of the number of convenience stores in South Korea has been 10 fold over the last 10 years. There has been an increased demand to strengthen the delivery systems into lunch bags and delicatessen. Moreover, competition among convenience store operating companies has escalated, so to be able to differentiate both taste and quality of foods is a requirement.

WOORI DELICA CO., LTD. was recently established (November 2015) for the purpose of strengthening their delivery system for lunch bags and delicatessen. The manufacturer decided to use the IH rice cooking system "Cooking Meister" to establish a difference in terms of the taste and quality of their cooked rice when comparing with a typical gas rice cooking system which is main stream in the country.

In South Korea, the convenience store industry is forecast to grow. Also consumers' awareness of the taste and quality of cooked rice foods is expected to continue to increase.

Appendix

Overview of the rice cooking plant

Factory	Map

* Please note descriptions in news releases are accurate as of the date of release and may differ from the most up-to-date information.