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Japan: Mazda sells 70% stake in parts subsidiary

Mazda Motor has announced it has sold a 70% stake in Hiroshima, Japan-based machine tool and auto components subsidiary Toyo Advanced Technologies. The OEM sold 6,807,000 shares with a value of ¥21bn (US$267.1m) to Itochu Corporation. Mazda noted that the transaction will lead to the posting of extraordinary profit of around ¥18.9bn and ¥9.6bn, It’s time to log … Continued

Mazda Motor has announced it has sold a 70% stake in Hiroshima, Japan-based machine tool and auto components subsidiary Toyo Advanced Technologies. The OEM sold 6,807,000 shares with a value of ¥21bn (US$267.1m) to Itochu Corporation.

Mazda noted that the transaction will lead to the posting of extraordinary profit of around ¥18.9bn and ¥9.6bn,

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https://www.automotiveworld.com/articles/95003-japan-mazda-sells-70-stake-in-parts-subsidiary/

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