Exedy Corporation (JP:7278) has released an update.
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EXEDY Corporation has announced the dissolution of its subsidiary, EXEDY America Corporation (EAC), due to sluggish orders for torque converters as a result of the automotive market’s shift to electric vehicles. This move is part of a larger structural reform within EXEDY’s automatic transmission business to improve global profitability. All dissolution expenses have been accounted for in the current consolidated earnings forecast, and any future updates will be promptly disclosed.
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