E･J Holdings falls despite announcing partnership with underwater drone developer
E･J Holdings Inc. <2153> declined on Tuesday, reversing the previous session's gains, as the market showed a muted reaction to its announcement after market close on the 1st that subsidiary Eight-Japan Engineering Consultants Inc. entered into a capital and business alliance with FullDepth Inc., a University of Tsukuba spin-off based in Tokyo.
The two companies will jointly develop and deploy domestic autonomous underwater vehicles (AUVs) optimized for infrastructure maintenance. Eight-Japan Engineering Consultants invested about 300 million yen in FullDepth. FullDepth develops and sells domestic underwater drones, expanding its business in infrastructure inspection and marine survey sectors using proprietary control and measurement technologies.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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