Furuno Electric and Icom Sign MOU to Explore Collaboration in Radio and Radar Fields

Furuno Electric Co., Ltd. (head office: Nishinomiya, Hyogo; President and CEO: Yukio Furuno) and Icom Incorporated (head office: Osaka, Osaka; President: Hiroshi Nakaoka) announced that they signed a memorandum of understanding on May 13, 2026, to begin collaboration discussions in the fields of radios and radar. The MOU is intended to enable the two companies to explore potential collaboration in product development and business activities by leveraging the technologies and expertise each has cultivated. As the business environment surrounding radios and radar continues to change, Icom, which has long accumulated achievements and technology in wireless communication equipment, and Furuno Electric, which has developed its business in marine electronics including navigational radar, have repeatedly exchanged views on the possibility of medium- to long-term business development by making use of their respective strengths. Recognizing that mutual use of their technologies and expertise in radios and radar could lead to new value creation and business opportunities, the companies concluded that it would be beneficial to jointly examine collaboration possibilities through continued dialogue. The collaboration discussions will focus mainly on product development in the radio and radar fields, cost-reduction measures including joint procurement of related parts and components, and continued discussions on future collaboration themes that draw on both companies' expertise. The MOU does not set specific transaction terms; details are expected to be reviewed and made more concrete through future discussions. Icom President Hiroshi Nakaoka said he is very pleased to move forward with discussions toward collaboration with Furuno Electric. He noted that both companies have long histories of delivering products worldwide that support safety, security, and enjoyment at sea. By combining their respective strengths and expertise, he believes the two companies can create new value that only they can deliver together, and through this initiative Icom will work to provide communications that satisfy many customers more than ever before. Furuno Electric President and CEO Yukio Furuno said he is very pleased to be able to explore collaboration with Icom, a company with advanced technical capabilities and distinctive product development strengths in wireless communication equipment. Furuno Electric has built its business by providing marine electronics that support safe and secure navigation, and amid major changes in the business environment, it feels more strongly than ever the importance of dialogue and cooperation with partner companies that have different strengths. Furuno aims to use both companies' technologies and expertise to explore new possibilities in radios and radar and connect them to future value creation. Based on the MOU, the companies will continue discussions and examine ways to make business collaboration in the radio and radar fields more concrete. Since successfully commercializing the world's first fish finder in 1948, Furuno Electric has continued to provide numerous world-first and Japan-first products in marine electronics based on its proprietary ultrasonic and electronic technologies. Today, it has established a sales network in more than 90 countries and built a solid position and brand as a global comprehensive manufacturer of marine electronics. Furuno Electric is headquartered in Nishinomiya, Hyogo, was established in 1951, manufactures and sells marine and industrial electronic equipment, has capital of 7.534 billion yen, 3,368 consolidated employees, consolidated net sales of 126.953 billion yen, is led by Yukio Furuno, and is listed on the Tokyo Stock Exchange Prime Market.