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Toyota Boshoku Corporation (President: Masayoshi Shirayanagi; hereinafter referred to as "Toyota Boshoku"), AISIN SHIROKI Corporation(President: Toshio Tanaka; hereinafter referred to as "AISIN SHIROKI"), a subsidiary of AISIN Corporation (President: Moritaka Yoshida; hereinafter referred to as "AISIN"), transferred part of the shares of SHIROKI AUTOMOTIVE INDIA PVT. LTD. (hereinafter referred to as "SAI") a subsidiary of AISIN SHIROKI to TOYOTA BOSHOKU ASIA CO., LTD. (hereinafter referred to as "TBAS"), a subsidiary of Toyota Boshoku, signed Share Purchase Agreement to make SAI a subsidiary of TBAS.

First, in January 2024, TBAS will acquire 80% of SAI's shares from AISIN SHIROKI, and then plan to acquire the remaining 20% of the shares by the end of 2025 to make it a wholly owned subsidiary. This matter will be implemented on the condition that the necessary procedures and responses are completed in each country.

［Remarks］News Release on October 25, 2022
Notice Regarding Transfer of Overseas Subsidiaries, Which Manufacture Automotive Seat Frame Mechanism Parts

＜Outline of SAI＞
１．Name：　　　　SHIROKI AUTOMOTIVE INDIA PRIVATE LIMITED
２．Location：　　　Unit No. 108, 1st Floor, Suncity Success Tower, Golf Course Ext. Road, Sector-65, Gurugram, Haryana 122005 India
３．Representative：President, Director; Naoki Hiragushi
４．Capital：　　　 248,500 INR
５．Area：　　　　　Land 19,181㎡、Building 11,502㎡
６．Products：　　　Seat recliners, Seat adjusters, etc.
７．Employees：　　 Approx. 613（As of March 31, 2023）