Notice Concerning Elimination of Comprehensive Alliance with KAULIN MANUFACTURING CO. LTD.(“SiRUBA”)
As a result of discussions between JUKI and SiRUBA on the Comprehensive Alliance Agreement concluded on May 19, 2011, we JUKI decided to dissolve the comprehensive alliance with SiRUBA on February 9, 2021, judging that it had achieved certain results in the purpose of the comprehensive alliance.
However, the Development and Manufacturing Agreement for our product name MO-6800 series (including subclass) continue to be legally effective and will continue with both companies.
- Accordingly, we JUKI planning to dissolve the business alliances that the two companies have promoted, such as (1) manufacturing, (2) purchasing, (3) development, (4) sales and services, and (5) human resource exchanges, and sell all of the shares of SiRUBA held by the JUKI Group.
- The impact of this elimination of comprehensive alliance on the Companies’s consolidated financial results is expected to be minor.
We will promptly disclose any matters that need to be disclosed in the future.