July 11, 2024

Name of Company Furukawa Electric Co., Ltd.
Name of Representative Hideya Moridaira, President(Code: 5801 Prime Market of the Tokyo
Stock Exchange)

Contact Hiroko Takita,
Corporate Vice President and General
Manager of Investor Relations Dept.

(TEL +81-3-6281-8540)

Notice concerning company split (simplified absorption-type split) associated withreorganization of the Group’s metal wire businessAt the Board of Directors meeting held today, the Company has resolved to undertake a reorganization of themetal wire business within the Group (hereinafter the “Reorganization”), which involves the Company, its wholly
owned subsidiaries Furukawa Electric Industrial Cable Co., Ltd. (hereinafter the “Integrated Company”),
KANZACC CO., LTD. (hereinafter “KANZACC”) and Riken Electric Wire Co., Ltd. (hereinafter “Riken ElectricWire”), and its subsidiary Okano Cable Co., Ltd. (hereinafter “Okano Cable”). Details are as follows.
Since this Company Split associated with the Reorganization is an absorption-type company split with theCompany’s wholly owned subsidiary, some items and details are omitted from this disclosure.

1.

Outline of the Reorganization(1) Purposes of the ReorganizationWhile the metal wire market in Japan has been shrinking year by year, the Group has promoted the selection
and concentration, and made a shift in the portfolio. In the meantime, the Group has produced differentiatedproducts and promising products making use of its technological advantage. However, we have increasingly
seen common challenges of the Group, such as the lack of talents and increased burdens of investing in renewalof aged facilities.
Under such circumstances, in order to solve such challenges and promptly address increasingly diverse andsophisticated needs, the Company has concluded that integrating divisions engaged in metal wire business andmaximizing the synergy effect will contribute to increasing corporate value of the entire Group, and decided toreorganize the metal wire business.
(2) Overview of the Reorganization
The Company plans to implement the Reorganization effective on April 1, 2025 and October 1, 2025
(projected) as follows:(i)

Effective on April 1, 2025 (projected), an absorption-type merger where KANZACC disappears and theIntegrated Company survives (hereinafter the “Merger”) is to be done.

-1-(ii)

Effective on October 1, 2025 (projected), through an absorption-type company split where the Company is
the splitting company and the Integrated Company is the successor company (hereinafter the “CompanySplit”), the Integrated Company is to succeed the business related to development, manufacturing andsales of metal wires in the Company’s Optical Fiber and Cable Products business division (hereinafter the“Split Business”).

(iii)

Effective on October 1, 2025 (projected), through an absorption-type company split where Riken Electric
Wire and Okano Cable are the splitting companies and the Integrated Company is the successor company,
the Integrated Company is to succeed Riken Electric Wire’s metal wire business as well as shares ofsubsidiaries of Riken Electric Wire and Okano Cable, which operate metal wire business, held by Riken
Electric Wire and Okano Cable respectively (hereinafter “Group Company Split”).

(3) Schedule of the Reorganization
Date of approval by Board of Directors on

July 11, 2024

the Reorganization
Date of concluding Company Split

August 30, 2024 (projected)

agreement
Date of Merger (effective date)

April 1, 2025 (projected)

Date of Company Split (effective date)

October 1, 2025 (projected)

Date of Group Company Split (effectiveOctober 1, 2025 (projected)

date)* Since the Company Split falls under a simplified company split for the Company as the splitting company
stipulated in Article 784, Paragraph 2 of the Companies Act, it will be implemented without obtaining approval at ageneral meeting of shareholders of the Company.

2.

Outline of the Company Split(1) Overview of the Company Split(i) Schedule of the Company Split
Please refer to the above-mentioned “(3) Schedule of the Reorganization” stated in “1. Outline of theReorganization.”(ii) Method of the Company SplitThis is an absorption-type company split (simplified absorption-type company split from the perspective ofthe Company) where the Company is the splitting company, and the Integrated Company is the successorcompany.
(iii) Allocation related to the Company Split
In the Company Split, the Integrated Company will issue two common shares with restriction on transfer(projected), and allocate all of such shares to the Company.
(iv) Treatment of share acquisition rights and bonds with share acquisition rights arising from the CompanySplit
Not applicable.
(v) Change in capital stock as a result of the Company Split-2-There will be no increase or decrease in the Company’s capital stock due to the Company Split.
(vi) Rights and obligations succeeded by the successor company
The Integrated Company will succeed the assets, liabilities and other rights and obligations related to theSplit Business as separately stipulated in the absorption-type company split agreement on the effective
date of the Company Split.
(vii) Prospect of fulfillment of debt obligations
The Company has concluded that there will be no impediment to the fulfillment of debt obligations by theIntegrated Company on or after the effective date of the Company Split.
(2) Overview of the companies involved in the Company Split (as of March 31, 2024)(i) Name

the splitting company

the successor company(Company)(Integrated Company)

Furukawa Electric Co., Ltd.

Furukawa Electric Industrial Cable
Co., Ltd.
(Name will be changed in April 1,2025）(ii) Address

2-6-4, Otemachi, Chiyoda-ku, Tokyo

6-48-10, Higashi-Nippori,
Arakawa-ku, Tokyo(iii) Name and title ofHideya Moridaira, President

Shigeru Tokuda, President

Business related to development,

Manufacturing and sales ofmanufacturing and sales of opticalvarious types of electric wires andcables for telecommunications, metalelectric machinery/apparatus

representative(iv) Business outline

wires, power cables, wire harnesses
for automobiles, and others(v) Capital stock

69,395 million yen

450 million yen(vi) Establishment

June 25, 1896

June 16, 1976(vii) Total number of

70,666,917 shares

900,000 shares(viii) Fiscal year end

March 31

March 31(ix) Major shareholders andThe Master Trust Bank of Japan, Ltd.

Furukawa Electric Co., Ltd. 100%

outstanding sharesshareholding ratio(Trust Account) 16.40%
Custody Bank of Japan, Ltd. (TrustAccount) 7.65%
BNYMSANV AS AGENT／CLIENTS LUX UCITS NON TREATY 1
5.30%
Custody Bank of Japan, Ltd. (Mizuho
Trust & Banking; Employee
Retirement Benefit Trust, Mizuho
Bank Account)

3.42%

Custody Bank of Japan, Ltd. (TrustAccount 4) 3.21%
Asahi Mutual Life Insurance-3-Company 1.93%
FURUKAWA CO., LTD. 1.88%
The Nomura Trust and Banking Co.,Ltd (Trust Account) 1.73%
Custody Bank of Japan, Ltd. (Mizuho
Trust & Banking; Employee
Retirement Benefit Trust,FURUKAWA CO., LTD. Account)
1.55%
Custody Bank of Japan, Ltd. (Mizuho
Trust & Banking; Employee
Retirement Benefit Trust, Asahi
Mutual Life Insurance CompanyAccount) 1.49%
Business performance and financial position for the most recent fiscal year
Furukawa Electric Co., Ltd.

Furukawa Electric Industrial Cable
Co., Ltd.

Fiscal Year

Fiscal year ended March 31, 2024

Fiscal year ended March 31, 2024

(consolidated)
Total net assets

358,038 million yen(218) million yen

Total assets

985,007 million yen

16,581 million yen

4,656.93 yen(241.91) yen

1,056,528 million yen

23,225 million yenOperating income

11,171 million yen

1,095 million yen

Ordinary income

10,267 million yen

974 million yen

Net income attributable to6,508 million yen

755 million yen

92.40 yen

839.62 yen

Net assets per share
Net sales

owners of the parent company
Net income per share(3) Overview of the division to be split(i) Business of the division to be split
Business related to development, manufacturing and sales of metal wires(ii) Business performance of the division to be split
Division results for the fiscal year ended March 31, 2024
Net sales

10,544 million yen(iii) Asset and liability items to be split and book values (as of March 31, 2024)
AssetsItem

Liabilities
Book value

Item

Current assets

2,265 million yen

Current liabilities

Non-current assets

1,980 million yen

Non-current liabilities

Total assets

4,246 million yen

Total liabilities

Book value
2,265 million yen
0 million yen
2,265 million yen* The above figures are as of March 31, 2024, and different from the actual amounts for the split.

-4-(4) Status after the Company Split
There will be no change in the name, address, name and title of representative, business outline, capital stock, orfiscal year end of the Company as a result of the Company Split. By implementing the Company Split and Group
Company Split, the metal wire business within the Group will be integrated into the Integrated Company, aiming
at realizing more efficient operations and more speedy decision-making.
(5) Future outlook
The impact of the Company Split on the Company’s consolidated financial results will be minimal.
END(Reference) Consolidated financial forecast for the current year (released on May 13, 2024) and consolidatedfinancial results for the last year
Net sales

Operating income

Ordinary income

Net income
attributable toowners of theparent company

Consolidated financial

1,080,000

25,00020,50013,000results forecast for themillion yen

million yen

million yen

million yen

Consolidated financial

1,056,528

11,171

10,267

6,508

results for the last year

million yen

million yen

million yen

million yen

current year
(Fiscal year ending March
31, 2025)(Fiscal year ended March
31, 2024)-5-【Appendix】

Current situation

Furukawa Electric
Metal wire business

100%100%

Furukawa ElectricIndustrial Cable

100%
Riken Electric Wire

KANZACC

Metal wire business

51%
Subsidiary

49.2%

Okano
Cable
100%
Subsidiary

April 1, 2025 (projected)
Furukawa Electric
Metal wire business

100%

100%

Integrated Company(Furukawa ElectricIndustrial Cable)

Riken Electric Wire
Metal wire business

KANZACC

49.2%

Okano
Cable

51%

100%

Subsidiary

Subsidiary

October 1, 2025 (projected)
Furukawa Electric
100%

100%

Integrated Company(Furukawa ElectricIndustrial Cable)

Riken Electric Wire

KANZACC
FurukawaElectric

Metal wire business

Riken ElectricWire

Metal wire business

51%
Subsidiary100%
Subsidiary

-6-

49.2%

Okano
Cable