www.teijin.co.jp/news/2023/08/07/20230807_01.pdf

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https://www.teijin.co.jp/news/2023/08/07/20230807_01.pdf

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This document announces that Teijin Limited has decided to transfer its shares in its consolidated subsidiary, Teijin Automotive Technologies (Tangshan) Co., Ltd, to Qingdao Kadashi Intelligent Equipment Co., Ltd. The reason for the share transfer includes the adverse business environment due to COVID-19 and issues with the company's production system. As a result, Teijin will withdraw from the automotive composite molding materials business in China. The transfer is scheduled to be executed in March 2024, and it is expected to incur losses related to the sale of shares and business losses. The document also mentions future earnings forecasts.