|
|
|
|
|
TOKYO, Mar 30, 2023 - (JCN Newswire) - Hitachi, Ltd. ("Hitachi"), Honda Motor Co., Ltd ("Honda"), JICC-01 Limited Partnership ("JICC-01") managed by JICC-01 G.K., which is a wholly owned subsidiary of JIC Capital, Ltd. ("JICC") and Hitachi Astemo, Ltd. ("Hitachi Astemo") have today agreed capital participation of JICC on Hitachi Astemo and change in its capital structure. Based on this agreement, the ownership ratio of voting rights for Hitachi Astemo will be changed from Hitachi : Honda = 66.6% : 33.4% to Hitachi : Honda : JICC-01 = 40.0% : 40.0% : 20.0% in September 2023. For this change in Hitachi Astemo's capital structure, Hitachi Astemo plans to issue class shares to JICC-01 and purchases a certain number of shares of its common stock held by Hitachi, using a portion of the funds raised through the issuance of class shares. In the meantime, Honda plans to purchase a certain number of shares of Hitachi Astemo's common stock from Hitachi and also plans to transfer all of its common shares of Hitachi Astemo Electric Motor Systems, Ltd. ("Hitachi Astemo EMS") to Hitachi Astemo, and in exchange Honda will acquire common shares of Hitachi Astemo which will be newly issued. As a result of the share transfer from Honda, Hitachi Astemo will make Hitachi Astemo EMS a wholly owned subsidiary to integrate Hitachi EMS strategically and optimize and strengthen further the strategy for electric powertrain.
Purpose and Background
After the management integration of Hitachi Automotive Systems, Ltd., Keihin Corporation, Showa Corporation, and Nissin Kogyo Co., Ltd., Hitachi Astemo has established its position as a global mega supplier which provides competitive mobility solutions in the CASE field by combining the strengths of each supplier and leveraging the relationships with existing shareholders Hitachi and Honda.
As the automobile and motorcycle industries are currently facing a revolution, Hitachi Astemo aims to realize sustainable growth and consolidate its position as a global mega supplier by leveraging its competitive software development technology with accelerating investment in advanced technologies such as electric powertrains for automobiles, autonomous driving/advanced driver assistance systems, advanced chassis and next-generation motorcycles.
For achieving the above purpose, Hitachi Astemo and its shareholders, Hitachi and Honda, came to the conclusion that, taking IPO into consideration, it would be desirable that Hitachi and Honda, as existing shareholders, support Hitachi Astemo's growth on an equal position and invite JICC as a new joint partner to utilize its extensive track record of investment and support, including in the automotive industry, as well as its knowledge and information network based on that experience in order to realize Hitachi Astemo's sustained growth.
Topic: Press release summary
Source: Honda Motor Co, Ltd
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| Honda Motor Co, Ltd |
| Oct 3, 2025 21:36 HKT/SGT |
Honda Announces New Investment in Motorcycle Plant in Brazil
|
| Sept 30, 2025 18:20 HKT/SGT |
|
Overview of Honda Booth Exhibits at Japan Mobility Show 2025 |
| Sept 29, 2025 16:08 HKT/SGT |
|
Production, Sales and Export Results for August, 2025 |
| Sept 26, 2025 19:21 HKT/SGT |
|
Yuki Tsunoda to Drive RA272, Honda's First F1(R)-Winning Car, in a Showrun at the F1 MEXICAN GRAND PRIX on October 26 |
| Sept 18, 2025 23:42 HKT/SGT |
|
Honda Koraidon Ride on Experience and Onboard Showrun to be Held at Honda Collection Hall |
| Sept 17, 2025 16:46 HKT/SGT |
|
Honda Announces New Electric Motorcycle "Honda WN7" in Europe |
| Sept 16, 2025 14:00 HKT/SGT |
|
Honda Develops New "Chemical Sorting" Technology to Separate Solid Contaminants from Waste Plastics Derived from End-of-life Automobiles |
| Sept 9, 2025 18:06 HKT/SGT |
|
The 46th Honda Prize 2025 Awarded to Dr. Kenichi IGA |
| Sept 8, 2025 17:53 HKT/SGT |
|
Toni Bou Wins 19th Consecutive FIM Trial World Championship Title |
| Sept 8, 2025 14:56 HKT/SGT |
|
Honda to Commercialize UNI-ONE Hands-Free Personal Mobility Device |
| More news >> |
 |
|
|
|
