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Midterm Business Plan

On January 29, 2019, we and our six subsidiaries (Note) filed a formal application for the Business Turnaround ADR with the Japanese Association of Turnaround Professional (hereinafter referred to as the “JATP”) (an organization that has been certified by the Ministry of Justice as a certified dispute resolution business and that has obtained the approval of the Ministry of Economy, Trade and Industry as a certified operator of the Business Turnaround ADR). Our application was accepted on the same day.

While the Business Turnaround ADR Proceedings are ongoing, we will move forward in discussions with the financial institutions and, with the examination, instruction, and advice from the JATP, will strive to achieve a business turnaround upon agreement with the financial institutions.

We will provide further information when the details of a business revitalization plan have been finalized.

Note: Six companies are Akebono Brake Corporation, Akebono Brake Mexico S.A. de C.V., Akebono Brake Slovakia s.r.o., Akebono Corporation (Guangzhou), Akebono Corporation (Suzhou), and A&M Casting (Thailand) Co., Ltd.