August 2, 2011
FDK Corporation
Asahi Kasei Corporation
FDK and Asahi Kasei today concluded a final agreement to establish a joint-venture company for their combined business operations related to the lithium ion capacitor (LIC), a next-generation energy storage device.
As previously announced, the two companies concluded a basic agreement on April 27, 2011, for the establishment of a joint LIC business to further strengthen R&D and supply capabilities by combining FDK’s cell and module technology and production technology with Asahi Kasei’s unique basic cell technology.
Based on today’s joint venture agreement, FDK is scheduled to separate its LIC operations to a new company on October 3, 2011, with the relevant portion of shares in the new company to be transferred to Asahi Kasei the same day. The new joint venture will be focused on accelerating the development of the LIC market, making the most of the strengths of the two companies, to expand operations and heighten corporate value.
Outline of the joint venture
| Name: | Asahi Kasei FDK Energy Device Co., Ltd. |
|---|---|
| Establishment: | October 3, 2011 (scheduled) |
| President: | Kiyohide Tsutsui (from FDK) |
| Head office: | Shizuoka, Japan |
| Paid-in capital: | ¥100 million |
| Investment ratio: | FDK 51%, Asahi Kasei 49% |
| Operations: | Research, development, production, and sale of LIC cells and modules |
| Employees: | 80 (scheduled) |
Timetable
| August 2, 2011 | Conclusion of joint venture agreement |
|---|---|
| October 3, 2011 | Establishment of a joint venture (scheduled) |
Profile of FDK Corporation
| President: | Michimasa Mochizuki |
|---|---|
| Home office location: | Tokyo, Japan |
| Establishment: | February 1950 |
| Paid-in capital: | ¥28,301 million |
| Employees (consolidated): | 6,916 (as of March 31, 2011) |
| 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): | 25,016 (as of March 31, 2011) |
| 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
The impact of the establishment of the joint-venture company on the consolidated financial results of both FDK and Asahi Kasei is forecasted to be immaterial.
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