This disclosure, made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, informs that Belrise Industries Limited (BIL) has entered into a License and Technical Assistance Agreement (the "Agreement") with Yamato Co., Ltd. of Japan.
Nature of the Agreement
The Agreement grants Belrise Industries Limited a license to manufacture and sell specific products throughout the Republic of India using Yamato's proprietary know-how. In addition to the license, Yamato will provide technical assistance to BIL, which includes support on design, development, testing, and manufacturing for the products.
Products and Scope
The products covered under this Agreement are air filters, oil filters, and resin air intake manifold products. The intended customers for these products are Indian Automotive and Industrial Original Equipment Manufacturers (OEMs).
Counterparty Details
The agreement is with Yamato Co., Ltd., a company incorporated in Japan. Yamato's registered office is at 2285-1, ONO, Hamana-ward, Hamamatsu-city, Shizuoka-Pref, 4340002, Japan. Yamato is described as a company engaged in manufacturing filtration products and providing technical support, primarily for air and oil filtration products in the automotive and non-automotive sectors. It also possesses know-how for converting intake manifolds from metal to resin. Yamato has an approximate turnover of ₹100 Crores.
Financial Consideration
The consideration payable by Belrise Industries to Yamato will be in the form of a Royalty and a Technical Assistance Fee, as detailed in the Agreement. The exact amounts or rates for these payments are not quantified in this disclosure.
Rationale and Expected Benefit
The stated rationale for entering this agreement is for Belrise Industries to obtain a license and technical assistance from Yamato to manufacture and sell the specified automobile components within India.
Other Significant Terms
The disclosure confirms that this agreement does not constitute a related party transaction and that no promoters, promoter groups, or group companies have any interest in Yamato Co., Ltd.
Company Context
Belrise Industries Ltd is described as an automotive component manufacturing company offering safety-critical systems and engineering solutions for two-wheelers and three-wheelers, with a standalone turnover of approximately ₹7,500 Crores.