Hitachi Ltd. and Honda Motor Co. are changing the ownership of their automotive component joint venture Hitachi Astemo Ltd., taking a 40% stake each and bringing in JIC Capital Ltd., which will own the rest of the parts supplier.
As a result, the stake held by Hitachi, one of the country’s biggest industrial conglomerates, will shrink from the two-thirds it currently holds in Hitachi Astemo. Honda’s ownership will rise by around 7%, the companies said in a statement Thursday. Hitachi Astemo will aim for an eventual public listing, they said.
