Company Split and Transfer of the ECAD Engineering Solutions Business

「Effective 1 December 2017, we transferred the Engineering Solutions Business, hereinafter the "Business," to a newly established company through a company split, hereinafter the "Company Split," and transferred all shares of the newly established company to NITTO KOGYO CORPORATION, hereinafter "NITTO KOGYO CORPORATION."」

「Our group had positioned this business, alongside the Brand Products Business and Technology Solutions Business, as one of the businesses generating stable cash flow. Following discussions with NITTO KOGYO CORPORATION, we determined that combining the management resources and business expertise of both companies in the design and manufacture of distribution boards and control panels, while drawing on NITTO KOGYO CORPORATION's experience and achievements in group management, would enable us to provide customers with higher-value-added services and lead to further growth for the business. We also determined that concentrating management resources would maximize shareholder value for our group. Accordingly, we decided to implement the company split and transfer the shares of the newly established company.」