News Release

The Furukawa Group’s Furukawa Electric Power Systems Co., Ltd. (Head Office: Yokohama City, Kanagawa Prefecture, President: Michio Okuno) has decided to revise the sale price of “CellPack”, a kit for straight and branch joint.

The company was approached by the raw material supplier about a significant price increase and has made adjustments to suppress an increase in the sales price. However, the company is in a situation where it has no choice but to increase the price in aiming for stable supply of the product too. The company has made repeated efforts to improve costs, but it would be difficult to absorb all of the cost increase by its own efforts alone so we have judged that we have no choice but to shift part of that increase onto the product price.

We apologize for the inconvenience to customers who are using the product in question and ask that they sympathize with and understand our situation.

Furukawa Electric (TSE; 5801, ISIN; JP3827200001) Group started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then Furukawa Electric has become pioneers in the latest technologies by addressing diverse technological issues. Furukawa Electric has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. Furukawa Electric reported consolidated revenues of JPY 874.9 billion (approximately USD 8.0B) for the fiscal year ended March 31, 2016.