TOKYO, Japan, March 24, 2009 – GS Yuasa Corporation and Honda signed a joint venture contract to establish a new joint venture company for manufacturing, sales and R&D of Lithium-ion batteries for hybrid vehicles. 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) |
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