Incorporation of Local Sales Subsidiary, Clarion India Private Limited, in India

-A Strategic Sales Base Directed towards the Expansion of Sales in Growing India and the ASEAN Region-

As one part of its world-wide growth strategy, Clarion Co., Ltd. (President: Tatsuhiko Izumi, hereafter; “Clarion”) will establish in New Delhi, India a solely owned local sales subsidiary, Clarion India Private Limited (tentative name), and will commence operations from April. The objective of this subsidiary will be to extend and bolster commercial rights in the expanding Indian market and ASEAN region.

Clarion currently engages in activities in the ASEAN region centered around Clarion Asia (Thailand) Co., Ltd., which is located in Rayong Province, Thailand. However, in order to respond to the Indian market which continues to grow, we will promote the acquisition of new commercial rights and the development of commercial markets along with seeking the maintenance and expansion of OEM commercial rights directed towards automobile manufacturers by putting in place a sales, services and technical support system within India. The new sales subsidiary will engage in business related to marketing and services focusing on the sales of Clarion products in India and we anticipate sales of 1 billion yen in the first fiscal year.

(1) Trade name (tentative name) Clarion India Private Limited
(2) Representative Mitsuo Matsumoto
(3) Location Units 802A, 802B, Tower 2, 8th Floor, “Konnectus Building”, Bhavbhuti Marg, Near Minto Bridge, Connaught Place, New Delhi-110001, India
(4) Incorporation Date April 1, 2013 (anticipated)
(5) Capital 430 million rupees (600 million yen)
(6) Shareholders 100% Clarion Co., Ltd.
(7) Number of Employees four (at the time of incorporation)
(8) Sales 1 billion yen (initial fiscal year)

Overview of Clarion Asia (Thailand)

(1) Trade name Clarion Asia (Thailand) Co., Ltd.
(2) Representative Tadashi Wada
(3) Location 500/39 Moo,3 Hemaraj Eastern Seaboard Industrial Estate Tambol Tasith Amphur Pluakdaeng Rayong, 21140 Thailand
(4) Capital 690 million Thai baht (1.7 billion yen)
(5) Shareholders 100% Clarion Co., Ltd.
(6) Description of Business Manufacture and sales of car audio systems and car navigation systems
(7) Number of Employees 693 (as of the end of December 2012)

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