JVCKENWOOD Corporation (“JVCKENWOOD”) hereby announces that it has decided to consider acquiring shares of Tait International Ltd. (“Tait International”), a wholly owned subsidiary of New Zealand-based Tait Limited (“Tait”), which is engaged in critical communications product and system businesses utilizing LMR and LTE solutions, and has entered into a Memorandum of Understanding with Tait.

JVCKENWOOD and Tait are currently considering details including the percentage of share acquisition and scope of business cooperation. Details will be announced later according to progress.

The impact of the consideration of capital and business alliance with Tait to the JVCKENWOOD’s business performance is expected to be minor.

Note: All the substantive businesses currently operated by Tait will be transferred to Tait International by the time of JVCKENWOOD’s investment in Tait International.

■Overview of Tait Limited