JTEKT Corporation (Headquarters: Kariya-city, Aichi Prefecture | President & CEO: Yoshihito Kondo, hereinafter referred to as "JTEKT") signed a definitive agreement with LEO III.-VV25-B SAS, which is exclusively advised by DUBAG Investment Advisory GmbH, an investment company headquartered in Munich, Germany for the transfer of our automotive business for European OEM, including all shares of our seven consolidated subsidiaries engaged in the manufacture and sale of automotive components, in May 2026. We are pleased to announce that the transfer contemplated under this agreement, for which discussions had been progressing with a target completion date of August 31, 2026, was completed on July 31 (local time), approximately one month ahead of schedule. In our Second Medium-term Management Plan for the period from Fiscal Year 2024 through 2026, JTEKT is planning to strengthen its management and business structure by restructuring its global structure. As for our European business segment, we aim to become profitable by restructuring and consolidating our businesses and improving profitability. We will pursue our internal reform through optimizing our strategies and business structure according to the market environment in each region and continue proposing solutions to meet demand from customers.
