Restructuring of Needle Roller Bearing Business in Europe

JTEKT Corporation (Headquarters: Kariya-shi, Aichi Prefecture | President & CEO: Yoshihito Kondo, hereinafter referred to as "JTEKT") has signed a definitive agreement with a Germany-based financial investor AEQUITA to transfer  our needle roller bearings (hereinafter referred to as "NRB") business in Europe, including all shares of our three consolidated subsidiaries engaged in the manufacture and sale of NRBs in Europe (hereinafter referred to as "Target Companies") to them.

In our Second Medium-term Management Plan for the period from Fiscal Year 2024 through 2026, JTEKT is planning to strengthen its management and business structure by restructuring its global structure. As for our European business segment, we aim to become profitable by restructuring and consolidating our businesses and improving profitability.

We will pursue our internal reform through optimizing our strategies and business structure according to the market environment in each region and continue proposing solutions to meet demand from customers.

[Outline of Target Companies]

Germany

France

Czech Republic