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September 30, 2015

Renewal of Agreement with Dandong Iwatani Toyo Gas Meter Co., Ltd.
~Addressing growing safety needs and achieving further growth based on long-standing mutual trust~

 

Iwatani Corporation (Head Office: Osaka and Tokyo, President: Masao Nomura, Capital: 20 billion yen) and Dandong Iwatani Toyo Gas Meter Co., Ltd. (DIT), which was established in Dandong City, Liaoning Province, China in 1995, agreed to renew the joint venture agreement, the validity of which expires in December 2015, and thereby extend its term for another twenty years. A ceremony commemorating the 20th anniversary of the joint venture and the signing for renewal was held on September 15, 2015.

DIT, a manufacturer of aluminum die-cast gas meters for home and business use (for LP and natural gas), was established by three companies: Dandong Dongfa (Group) Co., Ltd (Head Office: Dandong City, Liaoning Province, China, President: Liu Zhongan), the largest Chinese manufacturer of gas meters, Toyo Gas Meter (Head Office: Imizu City, Toyama, President: Yasushi Mizukoshi), and Iwatani Corporation. The purpose of this company is to address gas consumption in China that is rapidly on the rise, a trend which reflects the spread of gas pipe infrastructure.

The microcomputer-controlled gas meter, developed with the full cooperation of Panasonic Corporation, has been available in China since 2012, and is the first gas meter in the country to be equipped with security functions. It is currently one of the mainstay products of DIT, and is attracting a lot of interest from large gas companies in China because of the need to comply with the new standards for home-use security meters that were implemented in July this year. In addition to the security functions for products sold in Japan, the gas meter is equipped with four noteworthy functions (*) adapted to contemporary Chinese living. Going forward, we aim to sell 300,000 units in three years and 500,000 units in five years across China, focusing on cities where people have a strong awareness of safety (such as Shanghai and Beijing).  

Housing conditions have improved significantly in China in recent years, but the increasingly closed nature of living spaces has led to a rise in the number of gas accidents in China. In light of this trend, safe gas consumption has become one of the top priority issues for the Chinese government. Looking ahead over the next 20 years, the three companies will work together to enhance the safety meter business in China, fully applying the gas handling expertise cultivated by Iwatani Corporation in Japan. Through these efforts, we will seek to further expand business and contribute to the development of the Chinese society.

 

 

■Four noteworthy functions of the intelligent gas meter equipped with security functions, one of the mainstay products of DIT (*) : 

   

(i) Wireless detection function
Unlike in Japan, gas meters are installed inside houses in China. This function allows for efficient meter-reading from outside the house, eliminating the need to go inside.

(ii) Shut-off function for when gas is not used for an extended period of time
Automatically shuts off the supply of gas if it is not used for more than 30 days.

(iii) Recording function for unpowered gas leak alarm devices
Installation of gas leak alarm devices are mandatory in (some parts of) China. However, many users reportedly unplug their gas leak alarms because the poor quality of the alarm devices causes them to issue 

erroneous alarms frequently. This function has been installed at the request of gas companies, who believe that the availability of records showing that gas leak devices were unplugged will make it easier to determine who or what is at fault when investigating gas accidents.

(iv) Low pressure shut-off function  
If the gas supply pressure declines significantly, the pressure sensor in the meter activates and shuts off the supply of gas.

 

 

■Outline of DIT

1.  Company name Dandong Iwatani Toyo Gas Meter Co., Ltd.
2.  Outline of business Manufacturing of aluminum die-cast gas meters for home and business use
3.  Location ofhead office Dandong City, Liaoning Province, China
4.  Date established December 1995
5.  Number of meters sold 300,000 units per year
6.  Shareholders

Dandong Dongfa Group (50%), Toyo Gas Meter (35%),
Iwatani Corporation (15%)

7.  Paid-in capital 25,140,000 yuan (Approx. 314 million yen)