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CIS Modules from Solar Frontier
© Solar Frontier K.K. CONFIDENTIAL
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At a Glance
World’s largest CIS manufacturer with systems services
100% subsidiary of Showa Shell Sekiyu
30+ years legacy in PV
980MW production capacity, 100% Made in Japan
About 1GW supplied worldwide
Offices in Tokyo, Munich, Santa Clara and Al Khobar
About 1,500 employees
© Solar Frontier K.K. CONFIDENTIAL
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Group Structure
Royal
Dutch
Shell
Saudi
Aramco
Other
Investors
Showa Shell Sekiyu
Downstream oil refining &
marketing company
15% 35% 50%
Showa Shell Sekiyu K.K.
100% Subsidiary
100%
50%
100%
PV CIStems
GmbH Co. & KG
(JV with Belectric
Group)
Solar Frontier
Europe GmbH
Solar Frontier
Americas Inc.
© Solar Frontier K.K. CONFIDENTIAL
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Parent Company Profile
Showa Shell Sekiyu K.K .
Core Businesses: Oil & Solar
Year of Establishment: 1985
(Amalgamation of Showa Oil Co., Ltd. & Shell Sekiyu K.K.)
Stock Exchange: TYO:5002
Financial Ratings: A- (R&I), A+ (JCR)
Employees: 1,007
$ Billion
2010
2011
Change
Revenue
29.3
34.6
(+18%)
Operating Profit
0.46
0.75
(+ 64%)
EBIT
0.45
0.71
(+ 56%)
Net Income
0.20
0.29
(+ 45%)
© Solar Frontier K.K. CONFIDENTIAL
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GW-Scale Production Capacity
1000
Miyazaki P3
Miyazaki P2
Miyazaki P1
750
500
250
0
2007
2008
2009
2010
2011
Tokyo
Miyazaki Plant 3
Capacity:900MW Land:40ha Building:15ha Capex:$1.2bn
Miyazaki
© Solar Frontier K.K. CONFIDENTIAL
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