Furukawa Electric completes Furukawa Battery share transfer

Furukawa Electric Co., Ltd. announced on December 24, 2025, the completion of the transfer of all its shares in The Furukawa Battery Co., Ltd. The transfer occurred through a share buyback conducted by Furukawa Battery. This finalizes a process initiated by earlier disclosures regarding a tender offer for Furukawa Battery shares.

The initial announcement on July 23, 2024, detailed a planned tender offer by AP78 Co., Ltd., a wholly-owned subsidiary of Sustainable Battery Holdings, Inc., owned by funds managed by Advantage Partners, Inc. and TC Investment Partners Co. Ltd. Subsequent updates confirmed changes in the tender offer's scheduled commencement.

Under the agreement, Furukawa Electric did not apply for the tender offer. Upon its successful closing, a share consolidation ensured Furukawa Electric and AP78 Co., Ltd. were the sole shareholders. Subsequently, conditioned on the share consolidation, Furukawa Electric’s 18,781,200 shares in Furukawa Battery were transferred via the share buyback.