Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
FOR IMMEDIATE RELEASE
Tokyo, December 8, 2023 --- Hitachi Astemo, Ltd. (“Hitachi Astemo”) announces that Hitachi Astemo and wholly owned subsidiary Hitachi Astemo Electric Motor Systems, Ltd., will conduct an absorption-type merger on April 1, 2024. With the management integration, Hitachi Astemo will be the ultimate surviving company and Hitachi Astemo Electric Motor Systems will be the ultimate disappearing company.
In response to major changes in the automotive and motorcycle industries, Hitachi Astemo made Hitachi Astemo Electric Motor Systems a wholly owned subsidiary of Hitachi Astemo on October 16, 2023.* This move aimed to strengthen the company’s group-wide electric powertrain strategy by promoting sustainable growth and solidifying its position as a global mega-supplier.
The planned absorption-type merger will enhance the Electric Powertrain Business by increasing the decision-making speed in the Group's electric powertrain strategy, facilitating optimal resource allocation as well as optimizing development and production efficiency. The Electric Powertrain Business is a key growth area for Hitachi Astemo and the merger will enable the company to accelerate the provision of world-leading mobility products and technologies to customers.
Hitachi Astemo is committed to technological innovation and business development for sustainable growth through strategic business operations of the Electrification Business Management Division, the Chassis & ICE Management Division and the Motorcycle Business Division. Hitachi Astemo will contribute to a better global environment through electric powertrain systems and highly efficient internal combustion engine management systems that reduce emissions, and improve safety and comfort through autonomous driving, advanced driver assistance systems as well as advanced chassis systems. Hitachi Astemo contributes to a sustainable society and improved quality of life by providing world-leading advanced mobility solutions that satisfy our customers.
| Name | Hitachi Astemo, Ltd. |
|---|---|
| Location | Shin-Otemachi Building, 2-1, Otemachi 2-chome, Chiyoda-ku, Tokyo |
| Name and Title of Representative | Kohei Takeuchi, Representative Director, President & CEO |
| Description of Business Activities | Development, manufacture, sales and services of automotive components, transportation related components, industrial machines and systems, etc. |
| Date of Establishment | January 2021 |
| Capital | 129.1 billion yen |
| Major Shareholders and Ownership | Hitachi, Ltd.: 40% Honda Motor Company, Ltd.: 40% JIC Capital: 20% |
| Name | Hitachi Astemo Electric Motor Systems, Ltd., |
|---|---|
| Location | 2520 Takaba, Hitachinaka-shi, Ibaraki-ken, Japan |
| Name and Title of Representative | Noboru Yamaguchi, President & CEO |
| Description of Business Activities | Development, manufacturing and sales of motors for electric vehicles |
| Date of Establishment | July 2017 |
| Capital | 15 billion yen |
| Major Shareholders and Ownership | Hitachi Astemo, Ltd. 100％ |
Hitachi Astemo, Ltd.
Head Office: Shin Otemachi Building, Otemachi 2-chome, 2-1, Chiyoda-ku, Tokyo
Business: Development, manufacture, sales and service of machinery and equipment and systems for automotive parts and transportation and industrial use
