TOKYO, Japan, March 24, 2009 - GS Yuasa Corporation and Honda Motor Co., Ltd. today signed a joint venture contract to establish a new joint venture company. Since the signing of a basic agreement in December of last year, two companies have engaged in a series of discussions to determine concrete plans for the establishment of a joint venture company which will manufacture, sell and conduct R&D for high-performance lithium-ion batteries for applications with a central focus on hybrid vehicles. The new company, Blue Energy Co., Ltd., is scheduled to be established April 1, 2009.
Outline of the new joint venture company
| 1. Company name | Blue Energy Co., Ltd. | |||
| 2. Establishment date (plan) | April 1, 2009 | |||
| 3. Headquarters | 1, Inobanba-cho, Nishinosho, Kisshoin, Minami-ku, Kyoto | |||
| 4. Capital | 3 billion yen Potential increase in capital and capital surplus up to 15 billion yen may be executed. |
|||
| 5. Capital Ratio | 51% GS Yuasa Power Supply Ltd. (a wholly-owned subsidiary of GS Yuasa Corporation) 49% Honda Motor Co., Ltd. |
|||
| 6. Description of business | Manufacturing, sales and R&D of high-performance lithium-ion batteries | |||
| 7. President and CEO | Masahiko Oshitani (Executive Officer of GS Yuasa Corporation) |
|||