Misato Industries Co. Ltd

SMR Automotive Mirrors UK Ltd. completed the acquisition of Misato Industries Co. Ltd and Ichikoh (Wuxi) Automotive Parts Co., Ltd from Ichikoh Industries, Ltd. on August 1, 2023. The enterprise value was JPY 5.2 billion.

Ichikoh Industries announced a delay in the share transfer of its mirror business subsidiary Misato Industries to SMR Automotive Mirrors UK Limited, rescheduled from May 1, 2023 to August 1, 2023.

SMR Automotive Mirrors UK Limited, a subsidiary of Samvardhana Motherson International, signed a Share Purchase Agreement with Ichikoh Industries to acquire 100% of Misato Industries Co. Ltd. in Japan and Ichikoh (Wuxi) Automotive Parts Co., Ltd. in China. The transaction is expected to close in 6-8 months.

SMR Automotive Mirrors UK Ltd. agreed to acquire Misato Industries Co. Ltd and Ichikoh (Wuxi) Automotive Parts Co., Ltd from Ichikoh Industries, Ltd. for an enterprise value of JPY 5.2 billion. The deal is expected to close in August 2023.