News Releases 2009

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March 24, 2009

GS Yuasa and Honda Sign Contract to Establish Joint Venture Company for Manufacturing, Sales and R&D of Lithium-ion Batteries for Hybrid Vehicles

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)