Astmax to Transfer System Battery Rights and Land to HLC, Expected to Report Operating Profit in FY27 Q2

TOKYO, Jul 17 (Pulse News Wire) – Astmax CO.,LTD. (7162.T) announced that its board of directors, held, approved the transfer of rights related to its system battery project in Komoro City and land to HLC Corporation, a major shareholder's parent company.

The transaction includes the transfer of operational rights and land covering approximately 5,286 square meters. Specific financial details were withheld due to potential impacts on future negotiations but are deemed fair based on market prices or equivalent conditions. The Komoro project, known as the Komoro Case, involves a 42MW capacity battery facility scheduled to commence operations in December 2027.

The transfer is expected to result in approximately ¥650 million in operating profit during the second quarter of fiscal year 2027. ASTMAX plans to continue contributing to power infrastructure development through further business initiatives. The company will disclose any significant developments promptly.