Hitachi Chemical intends to utilize TSB’s brand power, manufacturing bases, etc. to further strengthen its storage battery business for automobile and industrial use in Southeast Asia. Both companies will expand their business in response to a wide range of customers’ needs by selling both products for automobiles and industrial lead-acid batteries by utilizing both sales networks of both companies.

Hitachi Chemical has acquired 43.9% of the company’s stock from the Korphaibool Family. The Hitachi Chemical Group further seeks to acquire TSB’s minority stakes by launching a mandatory tender offer of 275 Thai baht per share, without setting an upper limit on the planned number of shares to be purchased.