Announcement Concerning Investment in FOMM Corporation
EXEDY Group announced that it has made an investment in FOMM Corporation (headquartered in Kawasaki, Kanagawa Prefecture, hereinafter referred to as "FOMM"), a company developing world-wide business through new “concepts” in mobility development.
- Investment Purpose
We at EXEDY, with Creation of Fulfillment as our corporate philosophy, believe that through creating fulfillment for our customers and society, we can create our own fulfillment. With our high level of technological capabilities and attentive support, we aim to be a world top-class all-embracing manufacturer of mainly drivetrain components.
While accelerating our efforts towards realizing a sustainable society through popularizing small electric vehicles that contribute to global environment preservation, with this investment we look to increase our company’s shareholder value by expanding our business fields and improving our business results, pressing forward our collaborations with FOMM Corporation and its affiliates in an electric vehicle business where demand is increasing worldwide.
- Investment Details
DYNAX Corporation (Headquarters: Chitose City, Hokkaido) of EXEDY Group acquired new shares issued by FOMM Corporation through third party allocation.
- FOMM Corporation Outline
Company Name FOMM Corporation Address Kawasaki Business Incubation Center Honkan214, 7-7 Shinkawasaki, Saiwai-ku, Kawasaki-shi, Kanagawa-ken, 212-0032, Japan Representative’s Name and Title President & CEO Hideo Tsurumaki Business Description ① Development and production of compact electric vehicles (including two-wheelers) and technical consulting
② Battery leasing business
③ All other work incidental to the above items
Capital JPY 1,707,470,000 (As of January 31, 2018)
- DYNAX Corporation Outline
Company Name DYNAX Corporation Address 1053-1 Kamiosatsu, Chitose, Hokkaido 066-0077 Japan Representative’s Name and Title President & CEO Koji Akita Business Description Production and sale of wet-type friction plates, reaction plates, etc. for passenger cars, commercial and heavy-duty vehicles and ships. Capital JPY 500,000,000 (As of February 13, 2018)
- Date of Payment: January 31, 2018
- Outlook for the Future
Although we believe that this investment will contribute to the improvement of our corporate value in the medium to long term, the impact on our consolidated business results will be minimal for now.
From now on, in case any facts arise that require to be disclosed, the company will make an announcement in a prompt manner.