PIB News Update: The Competition Commission of India (CCI) approves proposed combination filed jointly by Keihin Corporation, Nissin Kogyo Co., Ltd., Showa Corporation and Hitachi Automotive Systems, Ltd.
The proposed combination pertains to Keihin Corporation(“KC”), Nissin Kogyo Co., Ltd.(“NKCL”), Showa Corporation (“SC”) and Hitachi Automotive Systems, Ltd.(“HIAMS”) forming a Joint Venture between Honda Motor Co. Limited (“HAMCL”) and Hitachi Limited(“HL”).
HAMCL is a limited liability, joint stock corporation incorporated in Japan. HAMCL develops, manufactures and markets motorcycles, scooters, automobiles and power products globally. In India, HAMCL is primarily engaged in the business of automobiles and two-wheeled motor vehicles.
KC, incorporated in Japan, develops and manufactures automobile components and systems globally. In India, KC is engaged in R&D, manufacture and sale of automotive and motorcycle components.
NKCL was incorporated in Japan for the purpose of making vehicle brake parts. In India, NKCL is engaged in the manufacture and supply of integrated braking systems for vehicles.
SC was incorporated as the Showa Aircraft Precision Works, Ltd. to manufacture aircraft components in 1938. Its current business is segmented into motorcycle and hydraulic components, automotive components, drivetrain components, and steering systems components. In India, SC is engaged in the manufacturing of shock absorbers for automobiles and two-wheeled motor vehicles.
HIAMS was incorporated in 2009 by HL, splitting off its auto parts business functions. HIAMS is engaged in the business of developing, manufacturing, selling and service of powertrain systems, chassis systems and advanced driver assistance systems, etc. In India, HIAMS, acting through its subsidiaries, is engaged in the manufacture, marketing, sale and service of automotive components including components for braking systems.
Detailed order of the CCI will follow.