Star Micronics Co., Ltd. announced that its Board of Directors has resolved to establish a new sales subsidiary in India in its Machine Tools Segment at a meeting held on February 9, 2024. Brief details are presented as follows. Purpose of establishing a subsidiary: Star Micronics goals are to provide prompt technical support and regular operator training to local sales agents while expanding sales of Swiss-Type CNC Automatic Lathes by establishing a wholly-owned sales subsidiary in India, where strong demand is expected.

Moreover, will promote the establishment of an optimal sales and service network that effectively covers the vast market to further expand market share. Overview of the subsidiary: Company name: Star Micronics India Private., Ltd. (tentative). Date of establishment: July 2024 (planned).

Location: Bengaluru, Karnataka, India. Capital: INR 40,000,000 (¥68,400,000 ¥1.71/INR as of December 31, 2023,)and Business activities: Sale of the Company?s machine tools products and peripheral equipment.