Ichikoh Industries,ltd. TSE:7244
Ichikoh Industries : Announcement of the signing of Joint Venture Agreement
Source: MarketScreener
To whom it may concern
August 5, 2025
Company Name Ichikoh Industries, Ltd. President, CEO, Christophe Vilatte
Representative Director
TSE ticker 7244 TSE Prime
Contact General Manager of Corporate
Planning Department Tomonori Hisano
TEL: +81-463-96-1442
Announcement of the signing of Joint Venture Agreement
Ichikoh Industries, Ltd. ('Ichikoh' or 'the Company') announces that it resolved to establish a 50:50 joint venture company("JVC") in India with TATA AUTOCOMP SYSTEMS LIMITED ('TACO') and entered into a joint venture agreement. The JVC will address the fast-growing automotive market India by joining forces between Ichikoh, a company listed on the Tokyo Stock Exchange which is owned at 61.08% by Valeo, and TACO, an automotive components arm belonging to a leading industrial conglomerate in India, Tata Group. TACO and Ichikoh are in talks to finalise an agreement to acquire Valeo Lighting Systems (VLS), a business unit of Valeo India Private Limited. Please note that this matter is not subject to the Timely Disclosure Standards and accordingly the matters to be disclosed and their details are partially omitted.
The Purpose of the Joint Venture Creation
Ichikoh, as a deeply Monozukuri rooted company, is thriving to the satisfaction of its customers, providing lighting solutions to our Worldwide customers for more than 120 years. Strong from its experience and expertise, Ichikoh will now enter a new stage in its international development by joining forces in India with its new Partner TACO. Through the formation of a Joint Venture in India, Ichikoh will be allowed to enter the dynamic market of India adding to its history of manufacturing excellence, the benefits of relying on an Indian partner strongly established in the local industry to acquire the lighting business in India currently owned by Valeo India Private Limited. With this operational base in Chennai, the local network and business know-how of TACO, but also the innovation capacity of the Valeo Group, Ichikoh is confident to accelerate its development in this new and promising territory.
Outline of the Joint Venture Company
(1) Company Name
TBD
(2) Location
In India
(3) Business
Design, development, manufacturing and supply of lighting products, and sales of its aftermarket products and related activities.
(4) Investment Ratios
Ichikoh: 50％, TACO: 50%
(5) Date of Foundation
Undecided at this point
(6) Relationship between Ichikoh and the company concerned
Capital ties
The company will be accounted for by the equity method
Personnel relations
Ichikoh's directors and employees will concurrently serve as directors of the company
Business
Full support will be provided, including
relations
the signing of technical assistance
contracts, covering development,
production and quality control
Outline of Joint Venture Partner
（1）
Company Name
Tata AutoComp Systems Limited
（2）
Location
TACO House, Damle Path, Off Law College Road, Erandwane, Pune 411004, India
（3）
Business
Manufacturing and sales of automotive parts
（4）
Date of Foundation
1995
（5）
Representative
Mr. Arvind Goel
（6） Relationship between Ichikoh and the company concerned
Capital ties
Not applicable
Personnel relations
Not applicable
Business relations
Not applicable
Intended Schedule subject to all regulatory consents having been obtained August 2025: Execution of the joint venture agreement
September 2025: Execution of agreement with Valeo India Private Limited for acquiring its lighting business.
Undecided at this point: Establishment of the joint venture company Undecided at this point: Start date of business
(Note) The above schedule is subject to change depending on clearance by domestic and foreign competition authorities and other approvals required by law from relevant authorities.
Impact on Business Performance
The Company expects that the impact of the creation of this joint venture on the consolidated full-year earnings forecast for the fiscal year ending in December 2025 and non-consolidated earnings will be minor, however, will promptly announce if the earnings forecast should be revised due to future activities.
END