Fairtrade regulator on Tuesday said it has approved a combination proposal filed jointly by Keihin Corporation, Nissin Kogyo Co. Ltd., Showa Corporation and Hitachi Automotive Systems Ltd to form a joint venture between Honda Motor Co Ltd (HAMCL) and Hitachi Ltd.
The proposed combination pertains to Keihin Corporation, Nissin Kogyo, Showa Corporation and Hitachi Automotive Systems (HIAMS) forming a joint venture between HAMCL and Hitachi Ltd, according to a press release.
The transaction entails HAMCL's acquisition of additional shares to convert its affiliates -- Keihin Corporation, Nissin Kogyo and Showa Corporation -- as its wholly-owned subsidiaries, following which the entities