Oct. 30, 2020
Formal Agreement about Management Integration between AISIN KOREA and AW KOREA
Since Aisin group companies based in South Korea, AISIN KOREA CO., LTD. (hereinafter, AKC) (head office: Gangnam, Seoul, Korea; president: Kazuhiro Mitsuda) and AW KOREA CO., LTD. (hereinafter, AW-K) (head office: Yeouido, Seoul, Korea; president: Yoshinari Kuwayama), Aisin Seiki Co., Ltd., the parent company of AKC and Aisin AW Co., Ltd, the parent company of AW-K, have reached a basic agreement to enter into discussion on business integration in July 23,2020, AKC and AW-K have been studying the business integration in January 2021. We are pleased to inform you that we have signed a merger agreement regarding the merger of the two companies and the change of the new company to AISIN KOREA CORPORATION.
Aisin will continue to work as a group, aiming to transform into a corporate structure with high profitability, and will continue to consider effective function aggregation and consolidation.
（１）Business integration schedule
| Basic agreement conclusion date （2 companies） | July 23, 2020 |
| Merger agreement conclusion date （2 companies） | October 26, 2020 |
| Effective date | January 1, 2021(scheduled date) |
（２）Business integration method
We plan to merge with AW-K as the surviving company and AKC as the extinguished company. (There is no change in location or business description due to this merger.)
（３）Overview of the new integrated company
| Company name | AISIN KOREA CORPORATION |
| Location of Head Office | 11 Yeongdeungpo Bank Road, Seoul Special City, Republic of Korea |
| Capital | 112.5million won |
| Shareholder composition |
Aisin AW Co., Ltd. 89% |
| Number of employees | 18 （Scheduled for January 2021） |
| Business description |
１.Market research and sales support for automobile parts ２.Car navigation development support |
