August 5, 2024
To whom it may concern
Company name
Representative
CodeContactTEL

EXEDY Corporation
Tetsuya Yoshinaga,
Representative Director, President
7278, TSE Prime Market
Hiroshi Toyohara
Representative Director, Senior
Executive Managing Officer,
Executive General Manager of
Administrative Headquarters+81-72-822-1152

Notice regarding Dissolution of Consolidated Subsidiary
EXEDY Corporation (the “Company”) hereby announces that it has resolved, at a meeting of theBoard of Directors held on today to dissolve and liquidate our consolidated subsidiary, EXEDY
America Corporation ("EAC") as described below.
1. Reason for the dissolution
EAC mainly manufactures torque converters for automobiles, but orders for torque converters at
EAC have been sluggish due to the increasing shift to EVs in the North American market.
To secure and improve the profitability of the current business, The Company is reorganizing its
global production capacity in consultation with our customers as part of the structural reform of
the automatic transmission related business (AT business).
In the process, it was evaluated that it would be difficult to secure the production volume of torqueconverters and improve the profitability of EAC, and the decision was made to dissolve andproceed with liquidation procedures of EAC.
2. Overview of the subsidiary to be dissolved(1) Company name
EXEDY America Corporation(2) Location
Tennessee, United States of America(3) Representative
President Norifumi Ikeda(4) Description of business
Automatic Transmission Related Business(5) Share Capital
83 million USD(6) Date of establishment
October 27, 1994
Major Shareholders and(7)EXEDY Holdings of America 100%
holding ratio
CapitalThe Company holds 100% of the voting rights ofRelationship
EAC（indirect ownership）
Representative of EAC is currently served byPersonnel
employees of the Company and 2 directors of theRelationship
Relationship between
Company concurrently serve as director of EAC.
(8)
the Company and EAC
Trade
The Company sells inventories to this Company andRelationshipalso lends funds to EAC.
Related Party EAC is a consolidated subsidiary of the Company
Statusand is its related party to the Company.

1(9)）

Financial Position and Performance in the Past 3 Fiscal Years
Fiscal year

March 31, 2022

March 31,2023

March 31,2024

Net assets

4,757

3,342

2,446

Total assets

10,556

11,59011,454

1,055,634

1,159,000

1,145,380

Revenue

7,047

11,858

11,585

Operating income(836)(1,754)(1,057)(659)(1,868)(1,281)(65,881)(186,822)(128,134)---

Net assets per share (yen)Profit Attributable toOwners of ParentEarnings
Per Share(yen)Dividends per share(Note) In millions of yen unless specified otherwise.
3. Schedule of the dissolution
August 5,2024
Resolution by the board of directors of the Company
The liquidation is scheduled to be completed as soon as the necessary procedures arecompleted in accordance with local regulations, but a specific date has not yet been determined.
4. Future outlook
Expenses to be incurred for the dissolution have already been estimated into the consolidated
earnings forecast that has already been announced.
If there are any additional matters which should be announced in the future, the Company willpromptly announce them.

Note : This document has been translated from the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, theoriginal shall prevail.

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