Icom and Furuno Electric Sign Memorandum on Collaboration in Radio and Radar Fields

Icom Inc. of Hirano-ku, Osaka, led by President and CEO Hiroshi Nakaoka and listed on the Tokyo Stock Exchange Prime Market, and Furuno Electric Co., Ltd. of Nishinomiya, Hyogo Prefecture, led by President and CEO Yukio Furuno and also listed on the Tokyo Stock Exchange Prime Market, announced that they signed a memorandum of understanding on May 13, 2026, to begin collaboration in the fields of radios and radar. The memorandum is intended to advance discussions on potential collaboration in product development and business activities in the radio and radar fields by leveraging the technologies and expertise each company has cultivated. As the business environment surrounding radios and radar continues to change, Icom, which has long-standing achievements and accumulated technology in wireless communications equipment, and Furuno Electric, which has developed its business in marine electronics including marine radar, have been exchanging views on the possibility of medium- to long-term business development by combining their respective strengths. The two companies recognized that mutually applying their technologies and expertise in the radio and radar fields could lead to new value creation and business opportunities, and concluded that it would be beneficial to jointly explore the potential for collaboration through ongoing dialogue. The collaboration will focus on considering the following initiatives: collaboration on product development in the radio and radar fields; cost-reduction measures including joint procurement of related materials and components; and continued discussions on future collaboration themes that make use of both companies' expertise. The memorandum does not establish specific transaction terms. The companies plan to examine and define the details through future discussions. Yukio Furuno, President and CEO of Furuno Electric, said he is very pleased to be able to explore collaboration with Icom, a company with advanced technological capabilities and distinctive product development strengths in wireless communications 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. By mutually applying both companies' technologies and expertise, Furuno hopes to explore new possibilities in the radio and radar fields and connect them to future value creation. Hiroshi Nakaoka, President and CEO of Icom, said he is very pleased to move forward with discussions toward collaboration with Furuno Electric. Both companies are long-established enterprises that have delivered products worldwide for many years to support peace of mind, safety, and enjoyment at sea. By combining their respective strengths and expertise, he believes the two companies can create new value that only they can produce together. Through this initiative, Icom will strive to deliver communications that provide even greater satisfaction to many customers. Based on the memorandum, the two companies will continue discussions and examine ways to make business collaboration in the radio and radar fields more concrete. Icom Inc. (https://www.icom.co.jp/) is a comprehensive manufacturer of wireless communications equipment listed on the Tokyo Stock Exchange Prime Market under securities code 6820. Since its founding in 1954, Icom has provided highly reliable products worldwide, ranging from land mobile radio equipment to marine radio, aviation radio, satellite communications, navigation equipment, receivers, IP networks, and amateur radio. Icom products are used in a wide range of fields, including government agencies, public organizations, logistics, airports, vessels, security services, and retail.