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Electronics Production | December 15, 2005

Hitachi to make its Mobile division a wholly-owned subsidiary

Hitachi Ltd. and Hitachi Mobile Co. Ltd. announced a stock-for-stock exchange agreement to make Hitachi Mobile a wholly-owned subsidiary of Hitachi.

This move is intended to strengthen Hitachi's automotive systems business. Hitachi currently owns 64.8% shares of Hitachi Mobile. As a result of the stock-for-stock exchange Hitachi Mobile's stocks will be delisted.
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