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Vector HOLDINGS (2656) · InitiativeFirst stated

Assignment and Termination of Contractual Position under a Battery Storage System OEM Agreement

First written in FY2023-Q3. . Latest entry: FY2023-Q3.

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Termination of OEM Agreement for Battery Storage SystemsA theme 1 companies write about · 1 as a headwind · 0 as a tailwind

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  1. FY2023-Q3First statedAnnual report

    「At an extraordinary Board of Directors meeting held on 20 September 2022, we approved an agreement to acquire Toko Co., Ltd.’s position under an OEM agreement with G-TECH Co., Ltd. for the manufacture of battery systems. We paid and deposited ¥150 million with Toko on that date as part of the guarantee deposit payable to G-TECH upon completion of the position transfer. At an extraordinary Board meeting held on 9 March 2023, we approved termination of the position transfer agreement, and the ¥150 million deposited with Toko was refunded on the same date.」

    The Company disclosed the transfer of an OEM agreement position and a ¥150 million deposit, followed by termination of the agreement and refund of the deposit on 9 March 2023.
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