@Toyota: Investment Agreement with Fuji Springs Co., Inc., a Manufacturer of Automotive Battery Components

Toyota Tsusho Corporation (“Toyota Tsusho”) announces that it has entered into an investment agreement to acquire 34% of the shares in Fuji Springs Co., Inc. (“Fuji Springs”) by receiving a third-party allocation of shares.
Through this investment, Fuji Springs will become an equity method affiliate of Toyota Tsusho as of June 30.^*1

Fuji Springs is engaged primarily in the design and manufacturing of precision parts and molds, and holds one of the leading market shares in Japan for manufacturing cell cases and cell covers*² for automotive batteries.

Toyota Tsusho positions the automotive battery-related business as a pillar of growth for the next generation. The two companies have already been collaborating in the battery field, including the establishment in July 2023 of FUJIHATSU & TOYOTSU Battery Components, North Carolina LLC (“FTBC”), a joint venture through their U.S. subsidiaries for the manufacture and sales of automotive battery cell cases and cell covers.

This investment aims to deepen collaboration between the two companies to flexibly respond to the diversifying needs of electrified vehicles and to further strengthen the battery supply chain.

In the ongoing FTBC business in the United States, both companies plan to enhance their manufacturing structure, expand production scale and product lineups to meet the needs of automotive batteries.

In Japan, Toyota Tsusho will leverage its functions as a trading company to deepen its collaboration with Fuji Springs in the manufacturing, procurement, and sales of automotive battery components.

In the future, the two companies will utilize manufacturing expertise and technologies cultivated through FTBC and domestic operations, along with Toyota Tsusho’s global network, to expand production bases into new regions both in Japan and abroad.

Through this investment, Toyota Tsusho will contribute to the stable supply of cell cases and cell covers, which are essential components for the spread of electrified vehicles, and to strengthening the global battery supply chain.

*1 The acquisition of shares is subject to the completion of procedures stipulated under the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade (Antimonopoly Act), and will be implemented once those procedures are completed.
*2 A cell case is an exterior component that protects the cell of an automotive battery from external environmental factors. A cell cover seals the cell opening and protects the internal structure.

Company name	Fuji Springs Co., Inc.
Location	Asago City, Hyogo Prefecture, Japan
Established	February 1960
Representative	Akira Fujii, President
Business description	Manufacturing and sales of cell cases and cell covers for automotive batteries

Company name	FUJIHATSU & TOYOTSU Battery Components, North Carolina LLC
Location	Greensboro, North Carolina, USA
Established	July 2023
Representative	Noriyuki Dan, President
Capital ratio	FUJIHATSU TECH AMERICA, INC. 60% Toyota Tsusho America, Inc 40%
Business description	Manufacturing and sales of aluminum cell cases and cell covers for automotive batteries