2024.11.06

In light of changes in the business environment and as further set out below, our company and Rogers Corporation ("Rogers") have agreed to dissolve our joint venture businesses in Japan and China as of 5 November 2024.

Rogers Inoac Corporation ("RIC"), the parties' joint venture in Japan, will become a wholly owned subsidiary of our company upon the transfer to our corporate group of the 50% of RIC's shares now held by Rogers. RIC's corporate name will be changed following the dissolution of the joint venture, and details will be announced following the determination of the new corporate name.

Rogers Inoac Suzhou Corporation ("RIS"), the parties' joint venture in China, will become a wholly owned subsidiary of Rogers upon the transfer to Rogers of the 50% of RIS's shares now held by our corporate group.

In addition, our corporate group will purchase a portion of the manufacturing line currently owned by RIS and will continue to manufacture products of equivalent specifications and quality in China.

Our corporate group has long been selling high-performance polyurethane foams made at RIC and RIS. Even after the dissolution of the joint ventures, we will continuously use the same production lines and supply high-performance polyurethane foams whose specifications and qualities do not differ from those of the products provided to date. In accordance with the dissolution of the above joint ventures, the name of the product sold by our corporate group will be changed to "SlimFlex".

Contacts points for any related inquiries are as set out below.
Industrial Materials Division,
Sales Section: Koichi Wada
SlimFlex Contact: Jun Nozaki
TEL: 0569-74-1811 (Weekdays 9:00-18:00)
Email: slimflex-marketing@inoac.co.jp