CCI approves proposed combination for forming Honda Motor, Hitachi joint venture
The proposed combination pertains to Keihin Corporation(“KC”), Nissin Kogyo Co., Ltd.(“NKCL”), Showa Corporation (“SC”) and Hitachi Automotive Systems, Ltd.(“HIAMS”) forming a Joint Venture between Honda Motor Co. Limited (“HAMCL”) and Hitachi Limited(“HL”).
The Competition Commission of India (CCI) has approved the proposed combination filed jointly by Keihin Corporation, Nissin Kogyo Co., Ltd., Showa Corporation and Hitachi Automotive Systems, Ltd. The proposed combination pertains to Keihin Corporation(“KC”), Nissin Kogyo Co., Ltd.(“NKCL”), Showa Corporation (“SC”) and Hitachi Automotive Systems, Ltd.(“HIAMS”) forming a Joint Venture between Honda Motor Co. Limited (“HAMCL”) and Hitachi Limited(“HL”).
HAMCL is a limited liability, joint stock corporation incorporated in Japan. HAMCL develops, manufactures and markets motorcycles, scooters, automobiles and power products globally. In India, HAMCL is primarily engaged in the business of automobiles and two-wheeled motor vehicles.
KC, incorporated in Japan, develops and manufactures automobile components and systems globally. In India, KC is engaged in R&D, manufacture and sale of automotive and motorcycle components.
See Zee Business Live TV streaming below:
NKCL was incorporated in Japan for the purpose of making vehicle brake parts. In India, NKCL is engaged in the manufacture and supply of integrated braking systems for vehicles.
SC was incorporated as the Showa Aircraft Precision Works, Ltd. to manufacture aircraft components in 1938. Its current business is segmented into motorcycle and hydraulic components, automotive components, drivetrain components, and steering systems components. In India, SC is engaged in the manufacturing of shock absorbers for automobiles and two-wheeled motor vehicles.
HIAMS was incorporated in 2009 by HL, splitting off its auto parts business functions. HIAMS is engaged in the business of developing, manufacturing, selling and service of powertrain systems, chassis systems and advanced driver assistance systems, etc. In India, HIAMS, acting through its subsidiaries, is engaged in the manufacture, marketing, sale and service of automotive components including components for braking systems.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Tata Motors, Muthoot Finance and 3 more: Axis Direct recommends buying these stocks for 2 weeks; check targets, stop losses
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
09:24 AM IST