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.