Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 107

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 107
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 Delivery and Logistics We are responsible for arranging the delivery of the goods to the warehouse or delivery location designated by the major customer. The ownership and risk of loss or damage of the goods shall transfer to the major customer upon delivery at the warehouse or delivery location designated by the major customer. Governing Law and Jurisdiction The Sales Agreement is governed by and construed in accordance with the laws and regulations of Japan. Any dispute shall be submitted to the Tokyo District Court as the exclusive court of first instance. By mutual consent, arbitration before the Tokyo Arbitration Center may also be chosen. Our Suppliers We do not generally enter into long -termsupply agreements with our suppliers. Instead, we source the products by placing fixed -termpurchase orders to our suppliers on a deal -by -dealbasis after the transactions are matched. While we do not enter into long -termsupply agreements with our suppliers, the fixed -termpurchase orders contain all the general terms and conditions of our purchases, including warranties, product specifications, quantities, indemnities and certain other terms to secure our contractual rights. For the waste papers, our suppliers are mostly waste paper collection companies throughout Japan. For the paper pulps, our suppliers primarily consisted of recycled pulp mills located in Japan. For the old metal appliances, our suppliers are mostly metal appliances collection companies located in Japan. For processed and dismantled metal wires, our suppliers primarily consisted of dismantling factories operating in the same area. For the fiscal year ended March 31, 2025, we had one major supplier who accounted for more than 10% of our total purchases. For the fiscal year ended March 31, 2025, our purchases from the major supplier amounted to $22,388,322, which accounted for 35.67% of our total purchases. For the fiscal year ended March 31, 2024, we had one major supplier who accounted for more than 10% of our total purchases. For the fiscal year ended March 31, 2024, our purchases from the major supplier amounted to $18,306,002, which accounted for 36.58% of our total purchases. We entered into a master supply agreement with our major supplier (the “Supply Agreement”), of which the material terms are as follows: Term and Termination The Supply Agreement is effective for a period of three years from the date of execution, December 1, 2023. Unless either party raises a written objection three (3) months prior to the expiration date of the Supply Agreement, it shall