Stanley Electric (TYO:6923) and Mitsubishi Electric Mobility will set up a joint venture for automotive lamp systems, transferring their respective businesses via company splits in October, according to a Thursday filing on the Tokyo Stock Exchange.
Stanley will own 66% of the new entity, which will focus on electronics and control components for lighting systems in four- and two-wheel vehicles.
The venture builds on a 2020 partnership aimed at safer, next-gen mobility.
Price (JPY): $2662.00, Change: $-23, Percent Change: -0.84%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.