Yaskawa Electric announces transfer of part of subsidiary iCube Digital shares to YE DIGITAL

Yaskawa Electric has decided to transfer part of its holdings in subsidiary iCube Digital Co., Ltd. to YE DIGITAL Corporation, reducing its ownership stake from 60.0% to 40.0%, and says the impact on consolidated results will be minor. iCube Digital was established in July 2020 as a joint venture between the two companies (capital of 350 million yen) and develops and sells IoT solutions for factory automation in manufacturing and automation in the logistics industry. Yaskawa Electric says it will continue to support the company's growth through its automation product technology and customer base.