TOKYO, Apr 23 (Pulse News Wire) – Imageone CO.,LTD. (2667.T) canceled its land purchase agreement with FD Corp related to a special high-voltage battery storage facility.
The decision was made during a board meeting held today. The agreement, initially signed on September 30, 2025, aimed to secure rights and benefits through sales to third parties and joint operations. However, due to recent changes in the power market environment, fluctuating material prices, and interest rate trends, uncertainties surrounding the validity and transferability of the system connection application rights remained unresolved. As a result, the company concluded that ensuring investment profitability was unfeasible at this stage.
In light of these challenges, ImageONE exercised a clause allowing contract cancellation if risks could not be resolved. The move prioritizes efficient fund utilization and maintains financial health. The termination of the transaction and the cancellation of the contract will proceed based on mutual consent without causing any breach of obligations. Regarding future outlook, the company stated that the cancellation would not impact its consolidated performance for the fiscal year ending September 2026.
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