TOKYO, Dec 24, 2024 - (JCN Newswire via SeaPRwire.com) - Nissan Motor Co., Ltd. ("Nissan") and Honda Motor Co., Ltd. ("Honda") have signed a memorandum of understanding (MOU) to start discussions and considerations toward a business integration between the two companies through the establishment of a joint holding company.To further accelerate their efforts toward achieving a carbon-neutral society and a zero-traffic-fatality society, Nissan and Honda signed an MOU on March 15 regarding a strategic partnership for the era of vehicle intelligence and electrification. Since then, the two companies have held discussions aimed at collaboration in various fields.On August 1, both companies signed a further MOU to deepen the framework of the strategic partnership. The companies also announced that they had agreed to carry out joint research in fundamental technologies in the area of platforms for next-generation software-defined vehicles (SDVs), particularly in the areas crucial for intelligence and electrification, to advance focused discussions toward more concrete collaboration.Throughout the process, Nissan and Honda have engaged in discussions in consideration of various possibilities and options. At the same time, the business environment for both companies and the wider automotive industry has rapidly changed and the speed of technological innovation has continued to accelerate. The MOU between Nissan and Honda announced today is aimed to serve as an option to maintain global competitiveness and for the two companies to continue to deliver more attractive products and services to customers worldwide.If the business integration can be realized, both companies can aim to integrate their respective management resources such as knowledge, human resources, and technologies; create deeper synergies; enhance the ability to respond to market changes; and expect to improve mid- to long-term corporate value. Additionally, Nissan and Honda can aim to further contribute to the development of Japan's industrial base as a “leading global mobility company” by integrating Nissan and Honda's four-wheel-vehicle and Honda's motorcycle and power products businesses, enabling the brands of both companies to become more attractive and to deliver more attractive and innovative products and services to customers worldwide.Marking the announcement, Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida said: "Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future. If realized, I believe that by uniting the strengths of both companies, we can deliver unparalleled value to customers worldwide who appreciate our respective brands. Together, we can create a unique way for them to enjoy cars that neither company could achieve alone."Honda Director and Representative Executive Officer Toshihiro Mibe said: “Creation of new mobility value by bringing together the resources including knowledge, talents, and technologies that Honda and Nissan have been developing over the long years is essential to overcome challenging environmental shifts that the auto industry is facing. Honda and Nissan are two companies with distinctive strengths. We are still at the stage of starting our review, and we have not decided on a business integration yet, but in order to find a direction for the possibility of business integration by the end of January 2025, we strive to be the one and only leading company that creates new mobility value through chemical reaction that can only be driven through synthesis of the two teams."Potential synergies from the business integrationNissan and Honda will establish an integration preparatory committee to facilitate a smooth integration and will conduct focused discussions.Based on the committee’s discussions, as well as the results of due diligence, the companies will examine and analyze more specific synergies. By promptly realizing the synergies from the integration, Nissan and Honda can aim to become a world-class mobility company with sales revenue exceeding 30 trillion yen and operating profit of more than 3 trillion yen.The expected synergies from the business integration at this time are: 1. Scale advantages by standardizing vehicle platforms- By standardizing the vehicle platforms of both companies across various product segments, the companies expect to create stronger products, reduce costs, enhance development efficiencies, and improve investment efficiencies through standardized production processes.- The integration is projected to increase sales and operational volumes, allowing the companies to reduce development costs per vehicle, including for future digital services, while maximizing profits.- By accelerating the mutual complementation of their global vehicle offerings - including ICE, HEV, PHEV, and EV models - Nissan and Honda will be better positioned to meet diverse customer needs around the world and deliver optimal products, leading to improved customer satisfaction.2. Enhancement of development capabilities and cost synergies through the integration of R&D functions- In accordance with the MOU to deepen strategic partnership and the joint research agreement on fundamental technologies dated August 1, the two companies have started joint research in fundamental technologies in the area of vehicle platforms for next-generation software-defined vehicles (SDVs), which is the cornerstone of the field of intelligence. After the business integration, both companies will encompass more integrated collaboration across all R&D functions, including fundamental research and vehicle application technology research. This approach is expected to enable both companies to efficiently and swiftly enhance their technological expertise, achieving both improvements in development capabilities and reductions in development costs through the integration of overlapping functions.3. Optimizing manufacturing systems and facilities- The companies anticipate that optimizing their manufacturing plants and energy service facilities, combined with improved collaboration through the shared use of production lines, will result in a substantial improvement in capacity utilization leading to a decrease in fixed costs.4. Strengthening competitive advantages across the supply chain through the integration of purchasing functions- To fully leverage the synergies from optimizing development and production capacity, both companies intend to boost their competitiveness by improving and streamlining purchasing operations and source common parts from the same the supply chain and in collaboration with business partners.5. Realizing cost synergies through operational efficiency improvements- The companies expect that the integration of systems and back-office operations, along with the upgrade and standardization of operational processes, will drive significant cost reductions.6. Acquisition of scale advantages through integration in sales finance functions- By integrating relevant areas of sales finance functions of both companies and expanding the scale of operations, the companies aim to provide a range of mobility solutions, including new financial services throughout the vehicle lifecycle, to customers of both organizations.7. Establishment of a talent foundation for intelligence and electrification- The human resources of the companies are an invaluable asset, and establishing a strong human resource foundation is crucial for the transformation that will come with the business integration. After the integration, increased employee exchanges and technical collaboration between the companies are expected to promote further skill development. Moreover, by leveraging each company's access to talent markets, attracting exceptional talent will become more attainable.Method of business integration and stock listingNissan and Honda, with the result of the consideration, plan to establish, through a joint share transfer, a joint holding company that will be the parent company of both companies. This will be subject to approval at each company's general meeting of shareholders and obtaining necessary approvals from relevant authorities for this business integration, based on the premise that Nissan's turnaround*1actions are steadily executed. Both Nissan and Honda will be fully owned subsidiaries of the joint holding company*2.Additionally, the companies plan to continue coexisting and developing the brands held by Honda and Nissan equally.- Shares of the newly established joint holding company under consideration are planned to be newly listed (technical listing) on the Prime Market of the Tokyo Stock Exchange (“TSE”). The listing is scheduled for August 2026.- With the listing of the joint holding company, both Nissan and Honda will become wholly owned subsidiaries of the joint holding company and will be scheduled to be delisted from the TSE. However, shareholders of both companies will continue to be able to trade shares of the joint holding company issued during this share transfer on the TSE.- The listing date of the joint holding company and the delisting date of both Nissan and Honda will be determined in accordance with the regulations of the TSE.- Regarding the organizational structure of the joint holding company, and both companies which will become wholly-owned subsidiaries of the joint holding company after the business integration, the optimal structure for realizing synergies, including the integration of R&D functions, purchasing functions, and manufacturing functions, will be discussed and considered within the integration preparatory committee, with the aim of establishing an organizational structure that enables efficient and highly competitive business operations after the business integration.Schedule for the business integrationBoard of directors’ resolutionDecember 23, 2024Execution of the MOUDecember 23, 2024Execution of a definitive agreement concerning the business integration (including the share transfer plan)June 2025 (planned)Extraordinary shareholders' meeting of the companies (resolutions to approve the share transfer)April 2026 (planned)Delisting from the TSEEnd of July-August 2026 (planned)Effective date of the share transferAugust 2026 (planned)Note: The above schedule is tentative and may change as a result of consultation by the companies. In addition, an announcement will be promptly made if reasons arise, such as procedures under applicable competition laws, to change the schedule of the business integration process or to cancel the business integration itself.Share transfer ratioThe share transfer ratio for the share transfer will be determined by the time of concluding the final definitive agreement regarding the business integration. The determination will be based on the results of due diligence, third-party valuations with reference to the average closing prices of each company's shares over a certain period prior to the announcement of the MOU. Management structure following the realization of business integrationAt the time of the effective date of the share transfer, it is planned that Honda will nominate a majority of each of the internal and external directors of the joint holding company. President and representative director or president and representative executive officer of the joint holding company will be selected from among the directors nominated by Honda.Other details of the joint holding company, including the name, registered office, representatives, executive composition, and organizational structure will be determined by the time of the execution of the definitive agreement, based on discussions and consideration aligned within the purpose of the business integration at the upcoming integration preparatory committee, as well as the results of the due diligence.Nissan‘s actions to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the marketIf necessary procedures arise in the process of this share transfer or for other reasons, changes may occur based on discussions and agreements between both companies.Honda and Nissan may file a registration statement on Form F-4 (“Form F-4”) with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the possible share transfer pertaining to the business integration between them (the “Share Transfer”), if it is conducted. The Form F-4 (if filed in connection with the Share Transfer) will contain a prospectus and other documents. If a Form F-4 is filed and declared effective, the prospectus contained in the Form F-4 will be mailed to U.S. shareholders of Honda and Nissan prior to the shareholders’ meetings at which the Share Transfer will be voted upon. The Form F-4 and prospectus (if the Form F-4 is filed) will contain important information about Honda and Nissan, the Share Transfer and related matters. U.S. shareholders of Honda and Nissan to whom the prospectus is distributed are urged to read the Form F-4, the prospectus and other documents that may be filed with the SEC in connection with the Share Transfer carefully before they make any decision at the respective shareholders’ meeting with respect to the Share Transfer. Any documents filed or furnished with the SEC in connection with the Share Transfer will be made available when filed, free of charge, on the SEC’s web site at www.sec.gov. In addition, the documents will be mailed to any shareholder of Honda or Nissan upon request for free of charge. To make a request, please refer to the following contact information.Honda Motor Co., Ltd.1-1, Minami-Aoyama 2-chome Minato-ku, Tokyo 107-8556 JapanAttention: Masao KawaguchiHead of Accounting and Finance Supervisory Unit(Tel. +81-3-3423-1111)Nissan Motor Co., Ltd.1-1, Takashima 1-chome Nishi-ku, Yokohama, Kanagawa, 220-8686 JapanAttention: Julian KrellVice President, IR Department(Tel. +81-45-523-5523)FORWARD-LOOKING STATEMENTS This document includes “forward-looking statements” that reflect the plans and expectations of Honda and Nissan (collectively the “Companies”) in relation to, and the benefits resulting from, the business integration between them (the “Business Integration”) and the potential benefits that may be realized through it. To the extent that statements in this document do not relate to historical or current facts, they constitute forward-looking statements. These forward-looking statements are based on the current assumptions and beliefs of the Companies in light of the information currently available, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the actual results, performance, achievements or financial position of one or both of the Companies (or the group after the Business Integration) to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The Companies undertake no obligation to and have no intention to publicly update any forward-looking statements after the date of this document. Investors are advised to consult any further disclosures by the Companies (or the group after the Business Integration) in their subsequent filings in Japan and filings with the SEC pursuant to the U.S. Securities Exchange Act of 1934. The risks, uncertainties and other factors referred to above include, without limitation:- changes in the economic situation, market demand, and competitive environment surrounding the automobile market in and outside Japan- financial uncertainty domestically and internationally, or changes in other general economic or industry situation- interest rates and other market risks- changes in the credit ratings of the Companieschanges in laws and regulations (including environmental regulations) related to the business activities of the Companies- increases in tariffs, introduction of import regulations, and other changes in the major markets of the Companiesfailure to finalize the definitive agreement(s) concerning the Business Integration- delays in the review or approvals from relevant authorities needed for the Business Integration, or failure to obtain such approvals from relevant authorities- the possibility of not being able to realize the synergies or added value expected from the Business Integration, or achieving such realizations become difficult; andother risks associated with completing the Business Integration. Copyright 2024 JCN Newswire via SeaPRwire.com.

TOKYO, Dec 24, 2024 - (JCN Newswire via SeaPRwire.com) - Olympus Corporation (Olympus), a global MedTech company committed to making people’s lives healthier, safer and more fulfilling, today announced that it has been selected for inclusion in the 2024 Dow Jones Sustainability World Index (DJSI World), one of the most globally recognized corporate sustainability indices. Olympus has now been named to the DJSI World for four consecutive years. Olympus has also been named to the 2024 Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific) for six.ESGThe Dow Jones Sustainability Indices (DJSI) are corporate sustainability evaluation indices for environmental, social, and governance (ESG) investment. Jointly developed by S&P Dow Jones Indices and RobecoSAM, the DJSI track the financial performance of leading companies according to ESG criteria. These indices are updated annually to include companies with excellent corporate sustainability practices.In 2024, 321 companies were selected as DJSI World members from approximately 3,500 companies worldwide in 62 industry sectors. Olympus is one of the 7 companies out of 71 to have been included in the DJSI World Health Care Equipment & Supplies sector. In addition to ”Tax Reporting,” ”Risk and Crisis Management” and ”Labor Practices,” Olympus was recognized this year with improved scores in the areas of ”Climate Strategy” and ”Materiality” compared to last year.In the area of ”Climate Strategy”, Olympus was recognized for its near-term targets1 and net-zero target2 being approved by the Science Based Targets initiative (SBTi). In the area of ”Materiality”, Olympus was recognized for its appropriate target setting and policy management aimed at resolving important issues.Comment from Yasuo Takeuchi, Director, Representative Executive Officer, Executive Chairperson and ESG Officer at Olympus“We have made changes to our management structure as a shift towards the next level of growth in FY2024 and beyond. Under the new structure, we have worked in an even more unified manner to take a proactive approach to ESG goals and actively strengthen our efforts to address our materiality. We are very pleased to have been selected by DJSI World for the fourth consecutive year, as we consider it a recognition of our efforts. Olympus will continue to actively develop a variety of initiatives to fulfill Our Purpose of ‘Making people's lives healthier, safer and more fulfilling,’ and to contribute to the realization of a sustainable society.”ESG InitiativesFor more information on Olympus’ ESG initiatives, please refer to its Integrated Report 2024 and the Sustainability page on its website.In addition to the DJSI World and Asia Pacific, Olympus was also named to the FTSE4Good Index Series and FTSE Blossom Japan Index.1 Olympus commits to reduce absolute scope 1 and 2 GHG emissions 70% by FY2031 from a FY2020 base year. Olympus also commits that 80% of its suppliers by emissions covering purchased goods and service, capital goods, and upstream transportation and distribution will have science-based targets by FY2028.2 Olympus commits to reach net-zero GHG emissions across the value chain by 2040.About OlympusAt Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide best-in-class solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. For more information, visit https://www.olympus-global.com/ and follow our global X account: @Olympus_Corp.Media contact:Mail: Global-Public_Relations@olympus.com Olympus Corp [TYO: 7733] [ADR: OLYMY] [STU: OLY1] [FRA: OLYS] https://www.olympus-global.com Copyright 2024 JCN Newswire via SeaPRwire.com.

TOKYO, Dec 24, 2024 - (JCN Newswire via SeaPRwire.com) - Nissan Motor Co., Ltd. ("Nissan"), Honda Motor Co., Ltd. ("Honda"), and Mitsubishi Motors Corporation ("Mitsubishi Motors") have signed a memorandum of understanding (MOU) to explore the possibility of Mitsubishi Motors’ participation, involvement, and synergy sharing in relation to the business integration through the establishment of a joint holding company outlined in an MOU signed between Nissan and Honda.Nissan, Honda, and Mitsubishi Motors have reached a basic agreement to proceed with discussions based on the framework established in the MOU signed by Nissan and Honda on August 1 regarding the commencement of a strategic partnership focused on intelligence and electrification. Mitsubishi Motors has been participating in this framework, and the three companies have been proceeding with discussions.Following the agreement between Nissan and Honda to start consideration toward a business integration through the establishment of a joint holding company amid the dramatic changes in the environment surrounding both companies and the automotive industry, the three companies have agreed to explore the possibility of achieving synergies at an increased level through Mitsubishi Motors’ participation or involvement in the business integration. Mitsubishi Motors aims to reach its conclusion by the end of January 2025 on the participation or involvement in the business integration between Nissan and Honda.Marking the announcement, Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida said:“Honda and Nissan have begun considering a business integration, and will study the creation of significant synergies between the two companies in a wide range of fields. It is significant that Nissan's partner, Mitsubishi Motors, is also involved in these discussions. We anticipate that if this integration comes to fruition, we will be able to deliver even greater value to a wider customer base.“Honda Director and Representative Executive Officer Toshihiro Mibe said:"At this time of change in the automobile industry, which is said to occur once every 100 years, we hope that Mitsubishi Motors' participation in the business integration discussions of Nissan and Honda will lead to further social change, and that we will be able to become a leading company in creating new value in mobility through business integration. Nissan and Honda will start the discussion from today onwards with an aim to clarify the possibility of business integration by around the end of January in line with the consideration of Mitsubishi Motors."Comment from Mitsubishi Motors Director, Representative Executive Officer, and President and CEO Takao Kato said:“In an era of change in the automotive industry, the study between Nissan and Honda about a business integration will accelerate synergy maximization effects, bringing high value also to the collaborative businesses with Mitsubishi Motors. In order to realize synergies and to make the best use of each company's strengths, we will also study the best form of cooperation.” Copyright 2024 JCN Newswire via SeaPRwire.com.

Guangzhou, China, Dec 24, 2024 - (JCN Newswire via SeaPRwire.com) - Honda Motor (China) Investment Co., Ltd., a wholly-owned Honda subsidiary in China, announced that GAC Honda Automobile Co., Ltd. (GAC Honda), a Honda automobile production and sales joint venture in China, began operation of its newly-constructed plant for new energy vehicle (NEV) production, named the Development District NEV Factory. The new factory is located in the Guangzhou Economic and Technological Development District in Guangzhou City, Guangdong Province, China.GAC Honda Development District NEV FactoryThe new NEV production plant features the latest production equipment to achieve a highly efficient, smart, and low-carbon production system. The stamping and welding processes completely eliminated logistics personnel by automating parts logistics. AI-based welding strength inspection was adopted for the first time at any Honda plant. In the assembly process, approximately 30% of the entire process is automated to achieve a highly efficient production line.To make this plant more environmentally-responsible, solar power systems generating a total of 22 megawatts will be installed within the property of the plant. It is expected that the annual CO2emissions will be reduced by approximately 13,000 tons(1) through the utilization of renewable energy. In addition, GAC Honda will strive to further reduce the environmental impact of the plant through the use of newly developed low-VOC(2) paints and the installation of equipment capable of treating 100% of the toxic substances contained in factory wastewater. In order to minimize the impact on air pollution, GAC Honda will aim to reduce VOC emissions from the new plant by more than 70%(3) compared to the standard limit set by Guangdong Province.(1) Calculations based on standards for CO2 emissions by the Chinese government (Ministry of Ecology and Environment)(2) VOC: Volatile Organic Compounds(3) Honda internal research GAC Honda Development District NEV FactoryHonda has set a global environmental goal of “realizing carbon neutrality for all products and corporate activities Honda is involved in by 2050.” In China, Honda is planning to introduce a total of 10 Honda-brand EV models by 2027, including models for the e:N Series launched in 2022, as well as the Ye Series, a next-generation EV series Honda is planning to launch in the current fiscal year ending March 31, 2025. With these EV models, Honda is aiming to achieve 100% EV sales in China by 2035. GAC Honda Automobile Co., Ltd.Established:July 1998Capital investment:541 million USDCapitalization ratio:40% Honda Motor Co., Ltd.10% Honda Motor (China) Investment Co., Ltd.50% Guangzhou Automobile Group Co., Ltd. (GAC Group)Location:Guangzhou City, Guangdong Province, ChinaPresident:Katsuhide MoriyamaEmployment:Approximately 9,500 associates (as of December 2024)Production capacity:HuangPu Plant (No.1) Approximately 240,000 unitsZengCheng Plant (No.2) Approximately 240,000 unitsZengCheng Plant (No.3) Approximately 240,000 unitsAbout GAC Honda Development District NEV FactoryLocation:Guangzhou City, Guangdong Province, ChinaProduction capacity:Approximately 120,000 units/yearProduction models:e:NP2, Ye Series (plan)Employment:Approximately 700 associates (as of December 2024)Investment amount:Approximately 3.49 billion R.M.B. Copyright 2024 JCN Newswire via SeaPRwire.com.

TOKYO, Dec 24, 2024 - (JCN Newswire via SeaPRwire.com) - Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), welcomed The Right Honourable Datuk Patinggi Tan Sri Dr Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, Premier of Sarawak, to its Takasago Hydrogen Park in Hyogo Prefecture, Japan. This visit marks a pivotal step in strengthening ties between the hydrogen ambitions of Sarawak, Malaysia, and industry-leading hydrogen technologies from Mitsubishi Power.Premier of Sarawak, Datuk Patinggi Tan Sri Dr Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, and his delegation, alongside MHI and Mitsubishi Power executives at the Takasago Hydrogen Park in JapanEstablished in 2022, Takasago Hydrogen Park integrates the development, demonstration, and verification of hydrogen production, storage, and utilization technologies at a single location. The validation of hydrogen firing equipment is carried out at the T-Point 2 combined cycle power plant validation facility, located in the utilization area, which is designed to support long-term testing of new technologies.During the visit, the Premier and his delegation toured the facility's integrated hydrogen value chain, gaining insights into next-generation hydrogen production technologies and validation processes for hydrogen firing in advanced gas turbines.Strategic discussions between the delegation and Mitsubishi Power's leadership focused on opportunities for collaboration and initiatives to bolster Sarawak's hydrogen ecosystem.The Premier of Sarawak highlighted the vital role of innovation and technology in advancing the state's energy agenda. "Hydrogen is set to play a transformative role in the global energy landscape, and Sarawak is committed to being at the forefront of this evolution. Working with leading technological players like Mitsubishi Power and witnessing ongoing research and development in the field are instrumental to unlock the full potential of hydrogen and influence sustainable growth for our region," he said."We are deeply honored to host the Premier of Sarawak at the Takasago Hydrogen Park," said Takuya Murase, Senior General Manager, GTCC Business Division of Energy Systems, MHI. "As Sarawak advances its plans to establish a hydrogen-driven economy, Mitsubishi Power is committed to providing technological expertise and support. Our discussion during this visit reaffirms the tremendous opportunities to drive cleaner energy solutions and advance the energy transition in the region."As part of its ongoing support for Sarawak's energy development, Mitsubishi Power recently supplied a 500MW hydrogen-ready gas turbine for the Miri CCGT Power Plant by Petroleum Sarawak Berhad (PETROS). The project broke ground in November 2024, and the gas turbine is designed to co-fire fuel containing up to 30% hydrogen, making it the most advanced power generation facility in the state.This milestone visit further reaffirms the shared commitment of Sarawak and Mitsubishi Power to collaborate on advancing the hydrogen ecosystem and building local capacity to support the state's energy ambitions. Copyright 2024 JCN Newswire via SeaPRwire.com.