Notice of Transfer of Charge/Discharge Testing System Business from a Consolidated Subsidiary

2023-10-1

Tokyo Seimitsu Co., Ltd. (Representative: Ryuichi Kimura, President and COO, listing in Tokyo Stock Exchange, Prime Segment) (hereinafter “the Company”) today announced that the Company has signed an agreement with Accretech Powertro System Co., Ltd. (hereinafter “APS”), a consolidated subsidiary of the Company, regarding the transfer of the development, manufacturing and sales business of charge/discharge testing systems from APS to the Company.
At the same time, Tosei Engineering Corp. (hereinafter "TSE"), a consolidated subsidiary of the Company, has also signed an agreement of the transfer of service business from APS to TSE.

APS is engaged in the development, manufacture, and sale of rechargeable batteries’ testing equipment and in-house testing services of the batteries.
Recently, to realize a carbon-neutral society, the production of lithium-ion and other rechargeable batteries is expected to grow dramatically due to the global spread of electric vehicles and the stabilization of power grids with the increased introduction of renewable energy sources.
Under these circumstances, the Company group has set forth in our medium-term management plan from FY2023/3 to FY2025/3 to further strengthen our charge/discharge test system business, which evaluates the performance and reliability of rechargeable batteries. With this business transfers, the Company group can provide an environment where customers can use our equipment and services with even greater peace of mind than before.
We will support R&D and accelerate the spread of rechargeable batteries through our product development capabilities and expertise in service, quality, and contracted measurement, which the Group has developed over many years. In this way, we will contribute to the realization of a sustainable society and at the same time expand our business, leading to medium- to long-term growth.

Since these transfers will be conducted between the Company and its subsidiaries, the impact on the consolidated financial results is expected to be minimal.
However, if the impact is deemed to be significant, the Company will promptly announce it as soon as it becomes known.