OREANDA-NEWS. July 11, 2012. Our group companies Asahi Electric Works Co., Ltd. (hereinafter “Asahi Electric”), Inoue Manufacturing Co., Ltd. (hereinafter “Inoue Manufacturing”) and Furukawa Power Components Inc. (hereinafter “Furukawa PC”) have agreed to sign an absorption-type merger agreement effective October 1, 2012 that will retain Asahi Electric and dissolve Inoue Manufacturing and Furukawa PC. Asahi Electric plans to change its name to Furukawa Electric Power Systems Co., Ltd. (hereinafter “FEPS”) as of the same date. We are also preparing to transfer our company’s electric component business to FEPS as of the same date, and will consider integrating our electric component-related businesses (F-Co Products Department and Electric Feeders Department) with FEPS as of April 2013.

This move is one of the measures toward the “global expansion of the transmission infrastructure business” as indicated in the Medium-Term Management Plan New Frontier 2012, as FEPS establishes a philosophy of “being a company that offers electric transmission and distribution system solutions, including those for new energy, thereby contributing to global socioeconomic development,” and aims to increase sales.