Yuasa and Japan storage battery plan to merge

Advanced Battery Technology, Aug 2003

Yuasa Corp. of Kyoto, Japan, and Japan Storage Battery Co. Ltd. of Osaka, Japan, have agreed in principle to merge under a jointly incorporated holding company. The merger will create one of the world's largest storage battery companies with annual sales of Y264 billion and 12,000 employees worldwide. Subject to regulatory and shareholder's approval, the merger will be effective on April 1, 2004. The new holding company, GS Yuasa Corp., will be headquartered in Kyoto and Tokyo.

Naruo Otsubo, president of Yuasa, will become president and co-CEO of the holding company and Shinichiro Murakami, president of JSB, will become chairman and co-CEO. They are committed to take leadership and direct the new group to a dominant position in the global storage battery business.