Mitsubishi acquires majority stake in Philippine transmission manufacturing subsidiary
Aims to "enhance management of its component production business
Mitsubishi has acquired a majority stake in its Philippine transmission manufacturing subsidiary, according to a company statement released today (27 June). Mitsubishi has purchased a 90% stake in Asian Transmission Corporation from its Philippine vehicle manufacturing and distribution unit, Mitsubishi Motors Philippines Corporation, and Sojitz Corporation. Through the capital restructuring carried out, Mitsubishi aims to "enhance management of its component production business". The transmission unit's retirement fund investors hold the remaining 10% stake.
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