Signing of a Memorandum of Understanding with Furuno Electric Co., Ltd. Regarding the Launch of a Collaboration in the Radio Communication Equipment and Radar Sectors

Icom Incorporated (Hirano-ku, Osaka; President and CEO: Hiroshi Nakaoka; listed on the Tokyo Stock Exchange Prime Market) and Furuno Electric Co., Ltd. (Nishinomiya, Hyogo; President and CEO: Yukio Furuno; listed on the Tokyo Stock Exchange Prime Market) are pleased to announce that they signed a Memorandum of Understanding (MOU) on Wednesday, May 13, 2026, regarding the commencement of collaboration in the fields of radio communication equipment and radar. The purpose of this Memorandum of Understanding is to facilitate discussions regarding potential collaboration on product development and business activities in the radio communication equipment and radar sectors, leveraging the technologies and expertise that both companies have cultivated.

Amid changes in the business environment surrounding the radio communication equipment and radar markets, Icom Inc., which has a long track record and accumulated technical expertise in the field of wireless communication equipment, and Furuno Electric Co., Ltd., which has been operating in the field of marine electronics, including navigation radar, have engaged in repeated discussions regarding the potential for medium- to long-term business development by leveraging their respective strengths. Recognizing the potential for creating new value and business opportunities by mutually leveraging each other’s technologies and expertise in the radio communication equipment and radar sectors, the two companies have concluded that it would be beneficial to jointly explore possibilities for collaboration through ongoing dialogue.

Under this collaboration, both companies will focus their discussions on the following initiatives:

• Collaboration on product development in the radio communication equipment and radar sectors
• Cost-reduction measures, including joint procurement of related parts and components
• Ongoing discussions on future collaboration opportunities leveraging both companies’ expertise

Please note that this Memorandum of Understanding does not specify concrete terms and conditions; the details will be discussed and finalized through discussions.
 

We are very pleased to have the opportunity to explore potential collaboration with Icom Incorporated, a company renowned for its advanced technical expertise and unique product development capabilities in the field of wireless communication equipment. Our company has built its business by providing marine electronic equipment that supports safe and secure navigation. However, as the business environment undergoes significant changes, we feel more strongly than ever the importance of dialogue and collaboration with partner companies that possess different strengths. We hope to explore new possibilities in the fields of radio communication equipment and radar by leveraging each other’s technologies and expertise, thereby creating value for the future.

We are very pleased that we are moving forward with discussions toward a potential collaboration with Furuno Electric Co., Ltd. Both of our companies have a long history of delivering quality products worldwide that have supported safety, security, and enjoyment at sea for many years. We are confident that by combining our respective strengths and expertise, we will be able to create new value that only our two companies can achieve. We are committed to this initiative so that we can provide our customers with an experience that exceeds their expectations.

Based on this Memorandum of Understanding, the two companies will continue their discussions and explore ways to formalize their business collaboration in the fields of radio communication equipment and radar equipment.