TADANO's US Sales Subsidiary to Establish Panama Office

To strengthen and broaden the TADANO Group's sales operations in the Latin American market, TADANO America Corporation (hereafter, TADANO America), TADANO's US sales subsidiary, has decided to open a Panama Office in the Republic of Panama. This facility will then serve as the Group's new base of operations.

1.Background

In the Latin American market, the TADANO Group manages a sales and service network through TADANO America Corporation and a number of sales agents consistent with the Group's long-range objective-ecoming the world's No.1 in the field of LE (lifting equipment). The region's rich natural resources and growing global demand for these natural resources are expected to generate significant and growing demand for construction machinery.

In addition to Brazil, currently booming in part due to activity related to the upcoming World Cup and Olympic Games, many Latin American countries appear likely to follow a similar path of economic growth in the coming years. This points to significant demand growth for construction machinery in response to growing construction investment, primarily in the field of infrastructure.

To meet this demand growth, TADANO America has decided to open a new office in the Republic of Panama. Located between North America and South America, the country has long benefited from its geographic advantages, serving as a hub of activities associated with commodities distribution and finance. Panama is also well-known for its attractive corporate tax system and accommodating visa processing. Armed with the geographic advantages of the new office, the TADANO Group is set to expand the share for Group products in the Latin American market, based on rapid response to market needs. It will work side by side with TADANO Brazil Ltda. (tentatively named), a company scheduled to begin operating next year.

2.New Company Profile

1	Name	TADANO America Panama Office (tentatively named)
2	Location	Panama City, the Republic of Panama
3	Date established	January 2011 (planned)
4	Region of operations	Latin American countries (except Brazil)
5	Business description	Sales Promotion Support Strengthen skills of sales agents to support sales promotion Information Collection Direct procurement of market information for future operations
6	Scheduled corporate events	January 2011 New office to be opened (staffed by resident TADANO America employee) Operational specifics are to be examined in 2011, including placement of resident service members.