Juki (TYO:6440) will terminate its joint venture with Sony Global Manufacturing & Operations Corp and acquire the remaining 8.2% stake in Juki Automation Systems to make it a wholly owned subsidiary, according to a Tuesday filing on the Tokyo Stock Exchange.
The move, effective Oct. 31, aims to boost management agility and efficiency.
Juki said it will continue its business relationship with Sony despite ending the joint venture.
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