JTEKT Corporation announced on December 22, 2017 that Mitsubishi Heavy Industries, Ltd. and JTEKT reached a basic agreement about the commencement of the alliance which may include capital participation on machine tools and precision cutting tools business for Mitsubishi Heavy Industries Machine Tool Co., Ltd. However the parties have come to agree to discontinue discussions and terminate the basic agreement . JTEKT passed a resolution on this matter at the meeting of the board of directors on May 25 , 2018. The impact on the consolidated financial results for the fiscal year ended March 31, 2018 of discontinue talks is insignificant. JTEKT will continue to enhance the corporate value through the business growth under the mid-term business plan.
JTEKT Corporation announced on December 22, 2017 that Mitsubishi Heavy Industries, Ltd. and JTEKT reached a basic agreement about the commencement of the alliance which may include capital participation on machine tools and precision cutting tools business for Mitsubishi Heavy Industries Machine Tool Co., Ltd. However the parties have come to agree to discontinue discussions … Continued
