AP78's tender offer for Furukawa Battery shares succeeds

AP78 Corporation's tender offer for The Furukawa Battery's common shares, which ran from August 8, 2025, to September 8, 2025, concluded successfully. The total number of shares tendered reached 10,864,468, exceeding the minimum purchase threshold of 3,070,500 shares.

As a result of this acquisition, AP78 Corporation will become a new major shareholder and affiliated company of Furukawa Battery, with a voting rights ownership of 33.15%. This change takes effect on September 16, 2025. AP78 Corporation's parent company, Sustainable Battery Holdings Inc., will also become an affiliated company.

The tender offer was priced at 1,400 yen per common share. AP78 Corporation intends to acquire all remaining shares (excluding treasury stock and shares held by Furukawa Electric Co., Ltd.) and plans to request Furukawa Battery to hold an extraordinary general meeting of shareholders to approve a share consolidation and amendment of the Articles of Incorporation. This process is expected to lead to the delisting of Furukawa Battery's shares from the Tokyo Stock Exchange Prime Market.