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.