(Progress of Disclosure Matters) Change of Status of Equity Method Affiliate to Consolidated Subsidiary
Stanley Electric Co., Ltd. (hereinafter the "Company") announces that it has turned Thai Stanley Electric Public Co., Ltd., a Thai equity method affiliate of the Company in which the Company's Singapore subsidiary Stanley Electric Holding Asia- Pacific Pte. Ltd. has an equity stake, into a consolidated subsidiary, as released in "Change of Status of Equity Method Affiliate to Consolidated Subsidiary and Establishment of Subsidiary by Our Subsidiary" dated October 31, 2023.
1. Outline of acquired shares
(1) Voting rights ratio before change
36.1%
(2) Voting rights ratio to be acquired
3.9%
(3) Acquisition price
2,755 million yen
(4) Voting rights ratio after change
40.0%
2. Future outlook
This share acquisition will be included in the consolidated financial results from the first quarter of the fiscal year ending March 31, 2025 with the deemed acquisition date of April 1, 2024 for consolidated accounting purposes. For consolidated business forecasts for the fiscal year ending March 31, 2025, please refer to "Consolidated Financial Results for the Fiscal Year Ended March 31, 2024" released today.
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Stanley Electric Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of automotive equipment products, component products and electronic applied products. The Company operates through three segments. The Automotive Equipment segment mainly manufactures automotive lighting products, which are sold to automobile manufacturers. The Components segment mainly manufactures electronic device products that are sold to manufacturers related to electrical machinery and automobiles. The Electronic Applied Products segment mainly manufactures electronic applied products such as units and modules that meet the specifications of customers, such as liquid crystal backlights, and operation panels that are sold mainly to electrical equipment, automobiles, and automobile-related manufacturers. In addition, the Company is also engaged in business activities such as promotion of employment of people with physical disabilities and financial and management services for groups.
STANLEY ELECTRIC CO., LTD. 
