NEWS RELEASE

Teijin Agrees to Sell Composites Business Subsidiary in JapanTokyo, Japan, September 1, 2023 --- Teijin Limited announced that it has agreed tosell its entire stake in GH Craft Co., Ltd., an equity-method subsidiary of Teijin’s
composites business in Japan, to TIP composite Co., Ltd. Teijin signed the sharetransfer agreement today.
Teijin acquired GH Craft in July 2008 as part of its downstream strategy. Leveraging its
superior technological capabilities, GH Craft has been involved in the design,
prototyping, and evaluation of composite materials centered on highly demanding
applications for the aerospace, railway, and automotive industries. As one of Teijin’s
composites business hubs in Japan, GH Craft earned the trust of customers.
Since acquiring its North American business in 2017, Teijin has been expanding theautomotive composites business. However, the business has significantly fallen short ofits expected profit levels due to factors such as a deterioration in the businessenvironment due to semiconductor and labor shortages and raw material price rises. Inresponse, Teijin has been concentrating the resources on its base in North America as
its key region to implement measures to improve profitability. Under thesecircumstances, Teijin has decided to sell the GH Craft while considering the company's
further growth.
TIP composite manufactures and sells composite materials for a wide range ofindustries, including aerospace and industrial. TIP composite has already collaborated
on selected projects with GH Craft. Now, by obtaining GH Craft's knowledge andtechnology, TIP composite is expected to grow its business significantly.
About the equity-method subsidiary to be transferred:- GH Craft Co., Ltd.
NameGH Craft Co., Ltd.
Head office location 733 Itazuma, Gotemba City, Shizuoka Prefecture
Name and title of theYoichi Suyama, President and Representative Director
representative
Design, development, prototyping, production and sales of
Description of
next-generation lightweight structural products usingbusinessadvanced composite technology
Share capital
JPY 100 million
Month ofAugust 1972
incorporation
Number ofApproximately 70
employees
Shareholding ratio
Teijin Limited 99.1%, employee shareholders 0.9%

-TIP Composite Co., Ltd.
NameTIP Composite Co., Ltd.
3967-19 Minami Nishihara, Wada, Matsumoto City, Nagano
Head office location
Prefecture
Name and title of theAkira Ninomiya, President & CEO
representative
Description ofDesign, manufacture and sale of fiber reinforced plasticbusinessmolded products
Share capital
JPY 75 million
Month ofAugust 1970
incorporation
Number ofApproximately 190
employees
Shareholding ratio
Tomei Industry Co., Ltd. 100%

The share transfer is scheduled for September 7, 2023. The impact of this transaction
on Teijin’s consolidated financial results for the fiscal year ending March 31, 2024, isexpected to be minor.
About the Teijin GroupTeijin (TSE: 3401) is a technology-driven global group with two core businesses:
high-performance materials and healthcare solutions. Established in 1918 as Japan’s
first rayon manufacturer, Teijin today comprises some 170 companies employing 20,000
people in 20 countries. Through “Human Chemistry, Human Solutions,” Teijinrelentlessly strives to aims to be a company that supports the society of the future byprotecting the global environment and addressing the needs of people and communities.
Teijin posted consolidated sales of JPY 1,018.8 billion (USD 7.6 billion) and total assetsof JPY 1,242.4 billion (USD 9.2 billion) in the fiscal year ending March 31, 2023.
Press Contact
Investor and Public Relations Department
Teijin Limited
pr@teijin.co.jp