iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Samvardhana Motherson acquires mirror business of Japan's Ichikoh Industries; stock tumbles ~4%

26 Sep 2022 , 12:22 PM

Samvardhana Motherson International Limited informed that Samvardhana Motherson Automotive Systems Group BV (SMRPBV), through its Vision systems division, has agreed to purchase a 100% share in Ichikoh Industries (a subsidiary of Valeo SE) in Japan for JPY 5.2 billion (approx. Rs294 crore), subject to normal closing adjustments for debt/debt-like items and working capital.

Ichikoh’s mirror business (development and production of car mirrors and associated components) in Japan and China is included in the transaction, which mostly serves Japanese OEMs. In 2021, the target company had revenues of JPY 15.8 billion. Motherson will gain three production sites in Japan and China, as well as 260 patents, to its IP portfolio as a result of this acquisition

This acquisition will mark a significant milestone in the group’s connection with Japan, which began with its initial partnership in 1983. Japan, being the world’s third biggest car manufacturing hub with significant technological leadership, is an important target market for Motherson, said the company in its media release.

“Motherson established two facilities in Hamamatsu, Japan, in July 2022, and this purchase is the next big step in accordance with the 3CX10 Group objective of greater regional and client diversity.”

The proposed transaction is expected to conclude in 6-8 months if all conditions precedent are met.

At around 12.26 PM, Samvardhana Motherson was trading at Rs113.60 down by Rs4.55 or 3.85% from its previous closing of Rs118.15 on the BSE. The scrip touched intraday high and low of Rs122.55 and Rs112.10 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Motherson Sumi
  • Samvardhana Motherson
  • Samvardhana Motherson Bonus
  • Samvardhana Motherson News
  • Samvardhana Motherson Stock
  • Samvardhana Motherson Updates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.