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    6810   JP3791800000

MAXELL HOLDINGS, LTD.

(6810)
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Maxell : Notice regarding the Orders for Action issued by Consumer Affairs Agency to the Subsidiary of the Company

07/28/2021 | 03:03am EDT

FOR IMMEDIATE RELEASE

Notice regarding the Orders for Action issued by Consumer Affairs Agency

to the Subsidiary of the Company

Tokyo, July 28, 2021 --- Maxell Holdings, Ltd. (TSE: 6810, hereinafter "the Company") announced about the orders issued by Consumer Affairs Agency as of today (hereinafter "the Orders for Action") under the provisions of the Article 7, Paragraph 1 of the Act against Unjustifiable Premiums and Misleading Representations (Act No. 134 of 1962, hereinafter "the Act") to the wholly owned subsidiary of the Company, Maxell, Ltd. (hereinafter "Maxell") as follows.

1. Contents of the Orders for Action

The Orders for Action was determined by the Consumer Affairs Agency that the representations used for Anti-bacterial Deodorizer "OZONEO AERO (Model number: MXAP-AE270)" (hereinafter "the Product") manufactured and sold by Maxell in several mail order websites, including Maxell's, "Maxell Online Main Store", "Maxell Online Rakuten Store" and "Maxell Online PayPay Mall Store" violated Article 5, Item 1 of the Act.

2. View and Future Forecast

Although the Company recognizes that the representations of the Product had been made after verifying sufficiently the effect of the ozone generated by the Product through a third-party organization, the Company will carefully examine the contents and consider responses to the items pointed out in the Orders for Action.

The Company also recognizes that the Orders for Action will have a minimal impact on the consolidated business performance of the Group and will continue to strive to improve the quality of our Anti-bacterial Deodorizers, including the Product, while expanding our product lineup and expanding sales.

The Company will announce immediately if there will be anything that must be disclosed in the future relating to this matter.

-###-

Disclaimer

Hitachi Maxell Ltd. published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 07:02:05 UTC.


ę Publicnow 2021
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Sales 2022 135 B 1 228 M 1 228 M
Net income 2022 6 025 M 54,8 M 54,8 M
Net Debt 2022 859 M 7,82 M 7,82 M
P/E ratio 2022 10,7x
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 1 307,00 JPY
Average target price 1 475,00 JPY
Spread / Average Target 12,9%
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Yoshiharu Katsuta President & Representative Director
Noritoshi Masuda Director & Manager-Finance
Yoshihiro Chitose Chairman
Wataru Kitao Independent Outside Director
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