At the Board of Directors meeting h, Nippon Electric Glass Co., Ltd. (NEG) decided to initiate a strategic review of the composites business at Electric Glass Fiber UK Ltd. (EGFU).

NEG group's composites business has been facing a challenging competitive environment with high prices for raw materials, energy, and logistics costs, leading to sluggish sales. This review is part of its ongoing efforts to recover performance.

During the approximately two-month strategic review period, EGFU will continue its normal operations and will maintain good cooperative relationships with stakeholders such as employees, customers, and suppliers.

The strategic review will consider various options, including the possibility of selling EGFU or forming strategic partnerships. However, if no optimal option is found, it may have to consider the potential cessation of EGFU's operations.