April 27, 2011
FDK Corporation
Asahi Kasei Corporation
FDK and Asahi Kasei today concluded a basic agreement to establish a joint-venture company for the combined operation of a lithium ion capacitor (LIC) business.
The LIC is a next-generation energy storage device which allows rapid charging and discharging at high current. It features higher cell capacity than conventional electric double-layer capacitors (EDLCs) and longer life than lithium-ion batteries (LIBs). A large market for LICs is forecasted to develop beginning in 2015, as they contribute to energy conservation through more efficient use of electric power.
Identifying the LIC as a growth product, FDK has been a pioneer in its development and established a mass production system which enables integrated manufacture from LIC cells through complete modules. Asahi Kasei advanced work on the LIC based on its established technology for LIB materials, and successfully developed a high-performance LIC with low internal resistance which is ready for commercialization.
In recognition of the advantage of combining FDK’s cell and module technology and production technology with Asahi Kasei’s unique basic cell technology, the two parties concluded today’s basic agreement for the establishment of a joint LIC business which will further strengthen R&D and supply capabilities.
Outline of the joint venture
| Investment ratio: | FDK 51%, Asahi Kasei 49% |
|---|---|
| President: | To be appointed from FDK |
| Operations: | Research, development, production, and sale of LIC cells and modules |
| Production facility: | FDK Kosai Plant, Shizuoka, Japan |
| Employees: | Approximately 70 |
Note: Although FDK and Asahi Kasei have reached accord on the above, specifics such as the company name and executives are to be determined through further discussion between the two companies.
Timetable
| April 27, 2011 | Conclusion of memorandum of understanding on the establishment of a joint venture. |
|---|---|
| End of June 2011 | Conclusion of joint venture agreement (scheduled). |
| Early August 2011 | Establishment of a joint venture (scheduled). |
Profile of FDK Corporation
| President: | Tozo Ono |
|---|---|
| Home office location: | Tokyo, Japan |
| Establishment: | February 1950 |
| Paid-in capital: | ¥28,301 million |
| Employees (consolidated): | 6,677 (as of December 31, 2010) |
| Business line: | Production and sale of dry cell batteries, rechargeable batteries, and electronics-related materials and components |
| Relationship with Asahi Kasei: | No capital relationship, no exchange of personnel |
Profile of Asahi Kasei Corporation
| President: | Taketsugu Fujiwara |
|---|---|
| Home office location: | Osaka, Japan |
| Establishment: | May 1931 |
| Paid-in capital: | ¥103,389 million |
| Employees (consolidated): | 25,038 (as of December 31, 2010) |
| Business line: | Ownership and control of companies operating business in fibers, chemicals, homes, construction materials, electronics, and health care |
| Relationship with FDK: | No capital relationship, no exchange of personnel |
Outlook
Disclosure will be made promptly if any material impact on financial results comes to light during the course of studying specifics.
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