Yachiyo Industry

Samvardhana Motherson International Ltd, via its wholly-owned subsidiary SMRP BV, has agreed to acquire an 81% stake in Yachiyo Industry Co.'s four-wheeler business, forming an 81:19 joint venture with Honda Motor. The transaction follows Honda's tender offer to make Yachiyo a wholly-owned subsidiary.

Yachiyo Industry will invest about 2.5 billion yen ($22.1 million) to increase production capacity of key auto parts by about 50% at a plant in Wuhan, China, to boost supply to parent Honda Motor.