Restructuring of Needle Roller Bearing Business in Europe
On February 25, 2025, JTEKT Corporation (Headquarters: Kariya-shi, Aichi Prefecture | President & CEO: Yoshihito Kondo, hereinafter referred to as "JTEKT") 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. Today we are pleased to announce that the transfer procedures for such European NRB business has been completed as of August 1, 2025 (local time).
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
| （１）Name | JTEKT BEARINGS DEUSCHELAND GMBH |
| （２）Location | Halle-Westfalen, Germany |
France
| （１）Name | JTEKT BEARINGS FRANCE SAS |
| （２）Location | Vierzon, France / Maromme, France |
Czech Republic
| （１）Name | JTEKT BEARINGS CZECH REPUBLIC S.R.O. |
| （２）Location | Olomouc, Czech Republic |