SUMIDA: Company News

As previously announced in the public notice entitled "Notice on basic M&A agreement with Pontiac Coil, Inc. and establishment of a new subsidiary" on April 18, 2018, we are pleased to announce that we have successfully acquired 100% of the shares in Pontiac Coil, Inc., on June 1st, 2018.

Today, it has come to light through press reports that a former external director has been arrested for the alleged insider trading of Sumida shares, violating the Financial Instrument and Exchange Act.

SUMIDA CORPORATION will continue to offer its full support to the efforts of the investigations.

Today, certain news agencies reported that the Securities and Exchange Surveillance Commission (hereafter “SESC”) is investigating allegations of violation of the Financial Instruments and Exchange Law (Insider Trading) by a former outside director of SUMIDA CORPORATION (hereafter the “Company”).

We highly regret the inconvenience caused through the media report, especially to our shareholders, customers and suppliers.

As mentioned in certain media reports, it is fact that the Company is under investigation by the SESC and that the Company is fully cooperating to clarify the case.

The concerned matter is related to an individual action by a former outside director, however, with respect to the selection of outside director candidates, the Company will strengthen efforts for prevention of recurrence and recovering of trust.

We are pleased to announce that Sumida Group, based on the resolution of the representative executive officer has reached a basic agreement today with Pontiac Coil Inc. in the United States (hereinafter called “Pontiac”) over the acquisition of 100 percent of Pontiac shares by SUMIDA AMERICA HOLDINGS INC., a Specific Purpose Company to be established as a wholly-owned subsidiary of SUMIDA CORPORATION.

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SUMIDA CORPORATION (“the Company”) would like to announce a partial correction to the content of the “Notice of the 63rd Annual General Meeting of Shareholders”,

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