HUAYU Automotive Systems Company Limited (SHSE:600741) agreed to acquire remaining 50% stake in Shanghai Koito Automotive Lamp Co., Ltd. from Koito Manufacturing Co., Ltd. (TSE:7276) and Toyota Tsusho Corporation (TSE:8015) for CNY 1.7 billion on September 28, 2017. Under the terms of transaction, HUAYU Automotive Systems Company Limited will acquire 45% stake from Koito Manufacturing Co., Ltd. and 5% stake from Koito Manufacturing Co., Ltd. As of December 31, 2016 Shanghai Koito Automotive Lamp Co., Ltd. reported total assets of CNY 4.6 billion, net assets of CNY 1.4 billion, net sales of CNY 9.5 billion, operating income of CNY 431 million and net income of CNY 388 million. The transaction for 45% stake is expected to close in end of March 2018.
HUAYU Automotive Systems Company Limited
Equities
600741
CNE000000M15
Auto, Truck & Motorcycle Parts
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07:48am | Huayu Automotive Systems' 2023 Profit, Revenue Beat Estimates | MT |
Mar. 28 | HUAYU Automotive Systems Company Limited Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
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10,265 JPY | -0.63% | -2.47% | 24.02B | ||
2,535 JPY | +24.57% | +26.31% | 4.14B | ||
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- HUAYU Automotive Systems Company Limited agreed to acquire remaining 50% stake in Shanghai Koito Automotive Lamp Co., Ltd. from Koito Manufacturing Co., Ltd. and Toyota Tsusho Corporation for CNY 1.7 billion.