Stanley Electric : Notice of Dissolution and Liquidation of a Consolidated Subsidiary

Stanley Electric Group- News Release

May 16, 2024

Notice of Dissolution and Liquidation of a Consolidated Subsidiary

Stanley Electric Co., Ltd.

Stanley Electric Co., Ltd. (Head office: 2-9-13 Nakameguro, Meguro-ku, Tokyo; President: Yasuaki Kaizumi) hereby announces that it has decided to dissolve and liquidate one of its consolidated subsidiaries, Stanley Ina Works Co., Ltd, as follows.

1. Reason for the decision

Since 1970, Stanley Ina Works has been operating as a manufacturing base for the Stanley Group's electronic components business and applied electronic products business. Meanwhile, we have the urgent need to boost our strength in maximizing added value in manufacturing so that the Stanley Group will grow further and gain a competitive edge required for that. Accordingly, we have decided to take bold steps to optimally allocate management resources at this timing as our corporate structure is steadily getting stronger.

We have examined the realignment of our bases and related companies as part of efforts to increase efficiency and cut costs across our group. As a result, we have decided to discontinue production at Stanley Ina Works, and dissolve and liquidate the company.

2. Overview of a subsidiary to be dissolved and liquidated

Company name	Stanley Ina Works Co., Ltd.
Location	7302-1 Matsuoteradoko, Iida-shi, Nagano, Japan
Position and name of	Tatsuya Oshio, President and Representative Director
representative
Business line	Liquid crystal displays and their applied products, electronic substrates
	products for LED car lights
Capital	300 million yen
Establishment date	October 1970
Major shareholder and	Stanley Electric Co., Ltd.: 100%
shareholding ratio

3. Dates of dissolution and liquidation

April 26, 2024	The Board of Directors' resolution to dissolve the subsidiary
March 2025	Completion of liquidation (plan)

4. Future outlook

We are in the process of examining the impact that the subsidiary's dissolution and liquidation may have on our consolidated business. If we find any matters to be disclosed going forward, we will promptly disclose them.

Going forward, Stanley Ina Works will hold discussions with its business partners, transfer its technologies and manufactured products to the Stanley Group, and discontinue its production in the first half of 2024.

We will support the re-employment, including employment transfers, of all employees of Stanley Ina Works.

≪Contact regarding this news release≫ IR Department

Stanley Electric Co., Ltd.

2-9-13 Nakameguro, Meguro-ku, Tokyo 153-8636 Email: [e-mail]