TACHI-S Co., Ltd. (President and CEO: Yuichiro Yamamoto, headquartered in Ome City, Tokyo, hereinafter TACHI-S ) is pleased to announce that it has agreed to change the investment ratio of its joint venture with Adient US LLC (headquartered in Michigan, USA, CEO: Jerome Dorlack, hereinafter Adient US) as follows:
1. Reasons for change in investment ratio
Since establishing a joint venture in 1986, TACHI-S and Adient US have built a friendly partnership and a global framework for cooperation and complementation in the manufacture and sale of automotive seats and related components. We have been operating our business by leveraging the strengths of both companies, but in order to respond quickly and flexibly to the changes in the current automotive industry environment and to further develop and grow our business,
We have decided to change our investment ratio, determining that it is best for each business to proceed according to its own strategy.
2. Overview of affiliated companies to be transferred (Capital : Rounded down to 1M USD)
■SETEX, Inc.
| Location |
：Ohio, USA |
| Established |
：September 1987 |
| Capital |
：5M USD |
| Business Contents |
：Manufacture and sale of car seats |
■SETEX Automotive Mexico, S.A. de C.V.
| Location |
：Guanajuato, Mexico |
| Established |
：September 2012 |
| Capital |
：24M USD |
| Business Contents |
：Manufacture and sale of car seats |
■Techno Trim, Inc.
| Location |
：Michigan, USA |
| Established |
：November 1986 |
| Capital |
：0M USD |
| Business Contents |
：Manufacture and sale of car seat covers |
3. Status of changes in investment ratio
| Affiliated company to be changed |
Before the change |
After the change |
| SETEX, Inc. |
51％ |
100％ |
| SETEX Automotive Mexico, S.A. de C.V. |
95％ |
100％ |
| Techno Trim, Inc. |
49％ |
- |
4. Future outlook
We believe that the impact of this matter on our financial results for the Fiscal Year Ending March 31, 2025 will be minor. However, we will promptly notify you if any matters that require disclosure arise.
■Contact
Company name
：TACHI-S Co., Ltd.
Address
：1-3-1 Suehiro-cho, Ome-shi, Tokyo (Headquarter / Technical Monozukuri Center)
Telephone
：+81-428-33-1138 (Corporate Planning Office)
E-mail
：ts-kikaku@tachi-s.co.jp
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