Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 109

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 109
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 for 36.58% of our total purchases. 76 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 automatically be extended for a period of one (1) year. In the event of any material breach, violation of law, or bankruptcy of a party, the other party may immediately terminate the Supply Agreement. Subject Items The subject items under the Supply Agreement are dismantled and sorted recyclable metal resources that can be directly used by downstream smelters, including but not limited to: •Scrap metals such as copper, aluminum, iron, brass, and stainless steel; and •Other recyclable metal items mutually agreed in writing by both parties. The major supplier shall ensure all goods are valuable resources, rather than unprocessed general waste, and comply with relevant Japanese laws. Transaction and Payment Terms The Supply Agreement serves as a master supply agreement. All details regarding price, quantity, place of delivery, and payment terms shall be specified in the respective purchase order. In the event of inconsistency, the purchase orders shall prevail. In principle, we are required to make payment by bank transfer within 30 days after receipt of qualified goods and valid invoices. Delivery and Logistics We are responsible for arranging the transportation of the goods. The ownership and risk of loss or damage of the goods shall transfer to us once the goods are loaded onto the truck at the major supplier’s warehouse. Governing Law and Jurisdiction The Supply 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. Competition The waste paper recycling and scrap metal recycling industries in Japan, East Asia and Southeast Asia are both highly competitive and fragmented. As a relatively new and small -scalecompany in both industries, we not only face competition from the large -scaleand vertically -integratedcompanies with more resources, extended operating histories and connections to the industries that operate their own collecting, sorting and processing facilities, such as Mitsubishi Corporation (TYO: 8058), Nippon Paper Industries Co., Ltd. (TYO: 3863) and Dowa Holdings Co