Mar 30, 2023 19:41 JST

Source: Honda Motor Co, Ltd

Honda: Notice of Change in Capital Structure of Hitachi Astemo including Capital Participation of JIC Capital

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.

Source: Honda Motor Co, Ltd
Sectors: Automotive

Copyright ©2025 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


Six Companies Establish BlueRebirth Council to Expand Use of Recycled Materials in New Vehicles
June 30 2025 18:25 JST
 
Honda Changes Plan to Build New Production Plant for Next-generation Fuel Cell Module in Japan
June 30 2025 18:20 JST
 
Honda Opens "Honda Software Studio Osaka" as New Software Development Operation
June 26 2025 12:30 JST
 
Honda Issues "Honda ESG Report 2025"
June 26 2025 12:29 JST
 
Honda Celebrates 60th Anniversary of First F1 Victory with Special Events Program
June 17 2025 16:45 JST
 
Honda Teams to Compete in 2025 FIM Endurance World Championship "Coca-Cola" Suzuka 8 Hours Endurance Road Race 46th Tournament
June 16 2025 15:37 JST
 
Honda to Co-develop Refueling Port Connecting System for On-orbit Satellite Refueling with Astroscale
May 30 2025 10:54 JST
 
Honda Expands Production Capacity by Adding New Production Line at Fourth Motorcycle Plant in India
May 23 2025 11:17 JST
 
Honda Reaches 500 Million-Unit Milestone in Cumulative Global Motorcycle Production
May 23 2025 10:32 JST
 
Honda and Quemix Co-develop a New, World's First Quantum State Readout Technology
May 15 2025 12:37 JST
 
More Press release >>

Latest Press Release


More Latest Release >>