The Furukawa Battery Co., Ltd. reached a basic agreement to acquire Laminated Lithium Ion Battery business of Maxell, Ltd..
October 28, 2020
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The Furukawa Battery Co., Ltd. (TSE:6937) reached a basic agreement to acquire Laminated Lithium Ion Battery business of Maxell, Ltd. (TSE:6810) on October 29, 2020. Furukawa Battery will succeed the assets, liabilities, contracts and other rights and obligations related to the Laminated Lithium Ion Battery business. The transaction method is absorption-type Company split, where, The Furukawa Battery Co., Ltd., the succeeding company and Maxell, Ltd. is the splitting company. In a related transaction, Fuji Medical Instruments Mfg. Co., Ltd. entered into an agreement to acquire Part of Health Product Business of Maxell, Ltd. on October 29, 2020. As a result of transaction, there will be no changes in the name, address, name and title of the representative, description of the business, share capital and end of fiscal year of Maxell Holdings, Ltd., parent of Maxell, Ltd. and Maxell, Ltd. For the fiscal year ended March 31, 2020, Laminated Lithium Ion Battery business of Maxell, Ltd. reported net sales of ¥137 million.
The transaction will be conducted without the approval and resolution at the general meeting of shareholders of Maxell, Ltd. The transaction was resolved by the Board of Directors of Maxell Holdings, Ltd. on October 29, 2020. The basic agreement was concluded on October 29, 2020. The scheduled conclusion date of the absorption-type company split agreement is end of November, 2020. The scheduled effective date of the transaction is April 1, 2021. The impact of the transaction on the operating results forecast of Maxell Holdings, Ltd. for fiscal year ending March 31, 2021 is expected to be minimal.
Maxell Ltd, formerly Maxell Holdings Ltd, is mainly engaged in the manufacturing and sales of energy, industrial materials and electric appliances and consumer products. The Company mainly operates through three business segments. The Energy segment manufactures and sells secondary batteries, such as coin type lithium secondary batteries, industrial lithium ion batteries and electrodes, and consumer lithium ion batteries, primary batteries such as lithium primary batteries and button batteries, and charger and battery packs. The Industrial Materials segment manufactures and sells optical components, functional materials, electroforming and precision parts, semiconductor-related embedded systems, mold and synthetic resin molded parts, adhesive tapes, radio-frequency identification (RFID) systems and Integrated Circuit (IC) cards, industrial rubber products and others. The Electric Appliance and Consumer segment manufactures and sells projectors, small electric equipments and others.
MAXELL, LTD. 
