Toyota Motor Corporation Creating a joint venture company with Panasonic (1901I)
01 Abril 2020 - 1:00AM
UK Regulatory
TIDMTYT
RNS Number : 1901I
Toyota Motor Corporation
01 April 2020
(Progress on Disclosed Matters) Toyota's automotive prismatic
battery division to split-off as a subsidiary and ownership
structure of such subsidiary to be changed for the purpose of
creating a joint venture company with Panasonic
Pursuant to the news release published on February 3, 2020,
titled "Toyota's automotive prismatic battery division to split-off
as a subsidiary and ownership structure of such subsidiary to be
changed for the purpose of creating a joint venture company with
Panasonic" Toyota Motor Corporation ("Toyota") and Panasonic
Corporation ("Panasonic") have executed the business integration
described therein as of today.
The capital amount for the joint venture (the succeeding
company) has been determined in relation to the execution of the
business integration, thus Toyota updates the capital amount as
follows (the updated and newly decided information is
underlined):
1 Succeeding company's situation after the company split (as of April 1, 2020)
Succeeding company
(1) Company name Prime Planet Energy & Solutions,
Inc.
-------------------------------------
(2) Address 2-3-1 Muromachi , Nihonbashi,
Chuo Ward, Tokyo
-------------------------------------
(3) Title and name of managing President and Representative
representative Director: Hiroaki Koda
-------------------------------------
(4) Nature of business Development, manufacture
and sales of high-capacity
and high-output automotive
prismatic lithium-ion batteries
Development, manufacture
and sales of automotive solid-state
batteries
Development, manufacture
and sales of next-generation
automotive batteries other
than those mentioned above
(including batteries based
on new principles)
Ancillary and other operations
related to the above
-------------------------------------
(5) Capital 95,050 million yen
-------------------------------------
(6) Fiscal year Ending March
-------------------------------------
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END
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