Akebono Brake Industry changes joint venture partner in China

Akebono Brake Industry Co., Ltd. announced it will dissolve joint venture agreements with ITOCHU Corporation for its Chinese subsidiaries and sign a new joint venture agreement with Fujiwa Machinery Industry (Kunshan) Co., Ltd., transferring ITOCHU's 30% stake.

“The joint venture agreements of Akebono Corporation (Guangzhou) and Akebono Corporation (Suzhou) with ITOCHU Corporation will be dissolved, and a new joint venture agreement will be signed with Fujiwa Machinery.”marketscreener.com

• 1 source
• marketscreener.comAkebono Brake Industry : Announcement Regarding Change in Joint Venture Partner of Consolidated Subsidiary in China (PDF 134KB)PublicnowJun 15, 2022

Summarized from public sources; check the original articles before acting on it.