June 27, 2019
Daiichi Jitsugyo Co., Ltd.
(“DJK”, Head Office: Japan, President & CEO: Ichiro Uno) and CIS Co., Ltd. (“CIS”, Head Office: Republic of Korea, President & CEO : Kim Soo Ha) have resolved to jointly establish DC Energy GmbH on June 27 2019, a new company in Frankfurt, Germany, specializing in sales of lithium ion battery manufacturing equipment.
Purpose of Establishment
In the auto market in Europe, gasoline and diesel engine regulations have been significantly tightened; demand in rechargeable battery manufacturing equipment for electric vehicles has been on a high increase. Since DJK has concluded that there will be much potential for further business growth under tailwind conditions from such a booming market, DJK has reached an agreement to jointly establish a new company in Europe with CIS, a manufacturer of rechargeable battery manufacturing equipment. The joint company will proactively develop business and contribute to environmental conservation, utilizing CIS’s technology as well as DJK’s group-wide knowledge and sales force.
Outline of the Joint Company
Company Name : DC Energy GmbH
Location : Mergenthalerallee 79-81, D-65760 Escborn, Germany
Director : Iraka Aoki, Daijiro Kodama, Lee Kisu
Line of Business : Sales of lithium ion battery manufacturing equipment
Capital : 25,000 Euros
Fiscal Closing Month : March
Establishment Date : September 20, 2019 (Projected)
Ownership : DJK 60%, CIS 40%
Outline of the Joint Partner
Company Name : CIS Co., Ltd.
Location : 37 Palgong-ro 47-gil, Dong-gu Daegu, 41028, Republic of Korea
Representative : Kim Soo Ha
Line of Business : Manufacturing of rechargeable battery manufacturing equipment and automation equipment
Capital : 5,362 million Won
Relationships with DJK
Capital : None
Human Resources : None
Business : Existing DJK’s vendor for lithium ion battery manufacturing equipment
Timeline
Date of Joint Agreement : June 27, 2019
Date of Joint Establishment : September 20, 2019 (Projected)
Date of Operation Start : September 20, 2019 (Projected)