In order to further strengthen the automotive system business, Hitachi Ltd. (Executive Directors: Chong Shan Yoshihiko/hereinafter referred to as Hitachi) and Toki Kogyo Co., Ltd. (Protege Director: Chuan Shang Run San//hereinafter referred to as Dong Ji Gong), type Clubhouse Hitachi Yoshiya Auto Parts Co., Ltd. (Appointed as president of the company: Kino Hisayo/Yoshita, hereinafter) The three companies recently reached an agreement on the merger and signed a merger memorandum today.
Prior to this, Hitachi, Tokio, and Yoshiya among the Hitachi Group each played their expertise in their respective fields and developed the automotive system development business. However, the popularization of eco-friendly vehicles represented by hybrid electric vehicles, and the development trend of electronic control in the field of brake control, steering, suspension, and other travel control systems have imposed higher requirements on the three companies, that is, they have concentrated advantages as an automotive system. The system provides an overall solution.
Yoshiya is a wholly-owned subsidiary of Hitachi. Hitachi also owns a 23.9% stake in Tokio (plus a total of 42.1% of indirect shares of the subsidiary). In order to meet market and technical needs in a timely manner, expand its business more effectively, and increase its competitiveness in the international market, the three companies recently reached consensus on the merger.
The three companies will sign a merger contract in late May of this year. After being approved by the regular shareholders meeting held in June, the company plans to implement a formal merger between Hitachi and Toyoyo on October 1 of this year.
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