SEALSQ Further Expands its Asian Footprint with the Signing of a Distribution Agreement with Okaya (Japan)

Geneva, Switzerland, Feb. 21, 2024 (GLOBE NEWSWIRE) -- SEALSQ Corp ("SEALSQ" or "Company") (NASDAQ: LAES), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced a Distribution Agreement with Okaya Electronics Corp. (“Okaya”), a leading Japanese semiconductor distributor company headquartered in Tokyo. Effective immediately, this agreement will contribute to the acceleration of the business expansion of SEALSQ in Asia.

With offices in Tokyo, Osaka, Yokohama, Hong-Kong and Shenzen, and over 200 people on the field, Okaya brings four decades of experience in the embedded electronic components distribution market. SEALSQ’s Secure Elements, PKI and trust service portfolio will enable Okaya to address the needs of new and existing potential customers requiring a complete suite of security offerings. Okaya will be spearheading the expansion of SEALSQ in Japan, with the support of SEALSQ’s own Japan based sales & application team.

Franck Buonanno, VP of Global Sales for SEALSQ said, “We are delighted to appoint Okaya as a new distributor for SEALSQ products and services. Working with their experienced teams will help position SEALSQ across Okaya’s broad contact base to bring our highly differentiated end-to-end security solutions to customers. Japan is one of the key marketplaces for IoT in Asia and with the signing of this distribution agreement we are well positioned to multiply our touchpoints in the area and capitalize on new opportunities arising from the growing demand for security offering.”

Okaya’s President Osamu Mizuno expressing his views of the new partnership, noted, “We are excited to be working together with SEALSQ in offering complete security solutions, particularly targeting Smart City & Smart Home applications. This partnership enables us to bring the latest advancements in technology to our customers. We look forward to a successful collaboration with SEALSQ.”

About Okaya:
Okaya was established in 1984 by its parent company, Okaya & Co., Ltd. (founded over 350 years ago) to serve the large stir in electronics. This stir is consistently driving the 21st century vision, with an infinite development expected to be focused on the electronics field.

About SEALSQ:
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks.

For more information please visit www.sealsq.com.

Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to implement its growth strategies; SEALSQ’s ability to generate revenue from emerging new semiconductors; SEALSQ’s ability to generate revenue from Matter certification and the new cyber trust mark standards; the successful introduction of the WISeSat picosatellite constellation; SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.