We have announced that we have resolved to form a capital and business alliance with Fenwal Controls of Japan, Ltd.

(“Fenwal Japan,” TSE Standard: 6870). Under the terms of the agreement, We will acquired Fenwal Japan’s common stock from six of its shareholders, making Fenwal Japan an equity-method affiliate.

　　

Purpose and details of the capital and business alliance

We aim to build a closer relationship with Fenwal Japan, a company with technical prowess in manufacturing fire extinguishing equipment, and expand its business by leveraging our sales capabilities and Fenwal Japan’s diverse product lineup.

　　

We concluded a stock transfer agreement with Fenwal Japan to acquire the latter's 1,070,400 common shares issued on June 7, 2024, with the transfer for June 13, 2024. (This acquisition will increase our voting rights from 4.42% to 23.34%.)

　　

We will formalize the capital and business alliance agreement based on this stock acquisition.This capital and business alliance and the stock acquisition on its consolidated earnings results for FY03/25 is under review.