Notice of Share Purchase Agreement for JM Energy Corporation

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 It is with great pleasure to announce that Musashi Seimitsu Industry Co., Ltd. (“Musashi”) has entered into a share purchase agreement to acquire 80% of shares of JM Energy Corporation (Headquarters: Hokuto-shi, Yamanashi, Representative Director, Mikio Yamachika, “JM Energy”), which is a 100% subsidiary of JSR Corporation (Headquarters: Minato-ku, Tokyo, CEO, Eric R Johnson). The transfer of shares is scheduled to be completed on April 1, 2020.

 Since the establishment in 1938, Musashi has been exploring creative manufacturing, based on Musashi founding spirit “Simple and Sturdy/Consistent Sincerity”, and Musashi corporate mission is to contribute to the development of global society through providing trusted and attractive products.

 JM Energy is engaged in development, manufacturing, and sales of lithium ion capacitor (LiC), and owns one of the few mass-producing infrastructures in the world. LiC is an energy storage device with phenomenal characteristics brought by the technological combination between the electrical double layer capacitor(*1) and the lithium ion battery(*2): high energy density, high charge-discharge rate, high safety, long life, and minimum maintenance. Presently, LiC is globally adopted to energy regeneration/assist (e.g. automotive, construction machine, forklift), backup/peak assist (e.g. voltage sag compensator, emergency cutoff valve), and leveling/storage of electric power (e.g. photovoltaics, wind farm). Additionally, for the automotive applications, LiC is potentially the best compatible with fuel cells (FC) and will become a part of the ideal battery system which is environmental friendly, high powered and efficient. In the future, with the development of higher energy density, Musashi expects that LiC will create new markets and become a key device in the smart society.

 In the automotive industry, quantitative needs for power storage devices are increasing based on the progress of electrification. Due to multiple factors such as future technological innovation, resource issues, and strict environmental and safety regulations, the usage forms of power storage devices are is expected to be more diversified. Furthermore, LiC and its utilizing its production technology can be a differentiating factors in the development of EV drive units that Musashi is working on. Musashi assures that LiC and its technology will help Musashi to create more attractive and highly competitive products for customers.

 Under these circumstances, Musashi decided to acquire energy storage devices including advanced R&D capability, production technologies and infrastructures that are expected to grow in the near future, and Musashi aims to develop new businesses through providing energy solutions which meet various needs for the smart society.

*1 electrical double layer capacitor: A capacitor that uses a physical phenomenon called the electric double layer to increase power storage
*2 lithium ion battery: A secondary battery that charges and discharges by moving lithium ions between positive and negative electrodes

About JM Energy
Company name : JM Energy Corporation
Representative : Representative Director Mikio Yamachika
Date of Establishment: August 1, 2007
Business contents :Development, manufacture and sale of lithium ion capacitor

About JSR
Company name: JSR Corporation
Representative: Representative Director, CEO Eric Johnson
Date of Establishment: December 10, 1957
Business Domain :Elastomers Business, Plastics Business, Life Sciences Business, Other Businesses
About Musashi:
Musashi Seimitsu Industry Co., Ltd. is a global auto parts Tier1 company for automobiles and motorcycles, whose headquarters is located in Toyohashi, Japan. It has 34 manufacturing sites spreading across Europe, North and South America, China, and South East Asia. Musashi specializes in designing, developing and manufacturing powertrain products such as Differential Assemblies, Planetary Gear Assemblies, Transmission Gears and Assemblies, and Reduction Gears for xEVs, which are supplied to global major OEMs and Tier1s. Linkage and suspension products are also strategic products of Musashi.
Musashi implements AI on manufacturing sites under the philosophy of "human jobs for human" and is also working on manufacturing innovation.
Musashi is listed on the first section of Tokyo Stock Exchange (TYO: 7220).