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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.
December 26, 2018
Tokyo, December 26, 2018 --- Hitachi Automotive Systems, Ltd. today announced that it has concluded a share transfer agreement with PTC2 Holdings Inc. a special-purpose company which is established by Polaris Capital Group Co., Ltd. to transfer all shares owned by Hitachi Automotive Systems in its wholly owned subsidiary, Hitachi Automotive Systems Measurement, Ltd., which engages in the energy station and plant construction businesses.
Hitachi Automotive Systems will continue to focus on strengthening its business portfolio. In particular, it will leverage its strengths in electronics and electrification technologies to continually enhance its line of electrification products such as motors and inverters, as well as advanced driver assistance systems & autonomous driving (ADAS/AD) products such as periphery sensors and electronic controllers.
Hitachi Automotive Systems Measurement manufactures and sells filling and measuring devices for gaseous and liquid fuels, as well as flow meters for oil and gas. Its service station design and construction business and instrumentation business are expanding mainly in Japan, but also in the Asia region. In Japan, it focuses on the development of a variety of energy stations, including gasoline, Compress Compressed Natural Gas (CNG), and hydrogen, as well as the construction business for private residence filling stations. All of these businesses boast a top share in Japan.
Moving forward, against the backdrop of increasing global demand for infrastructure to supply next-generation clean energy, it is crucial for the growth strategy of Hitachi Automotive Systems Measurement to focus on new businesses such as the development of next generation service stations and hydrogen stations, and expansion into overseas markets.
Therefore, following discussions between Hitachi Automotive Systems and Hitachi Automotive Systems Measurement, the investment fund of Polaris was selected as a new sponsor, based on its wealth of experience in strengthening management fundamentals and providing support for implementation of growth strategies at many companies. This partnership will facilitate the further growth and development of Hitachi Automotive Systems Measurement's new business and overseas business expansion.
Hitachi Automotive Systems will pursue further growth by enhancing the businesses in electrification products as well as autonomous driving field.
|Company Name||Hitachi Automotive Systems, Ltd.|
|Head Office||2-1, Otemachi 2-chome, Chiyoda-ku, Tokyo, Japan|
|Representative||President & CEO: Brice Koch|
|Business Description||Development, manufacture, sales and services of automotive components, transportation related components, industrial machines and systems, etc.|
|Capital||15 billion yen (Hitachi, Ltd. 100%)|
|Established||July 1, 2009|
|Company Name||Hitachi Automotive Systems Measurement, Ltd.|
|Head Office||Parale Mitsui Building, 8, Higashida-cho, Kawasaki-ku, Kawasaki-shi, Kanagawa, Japan|
|Representative||President: Katsunori Wajima|
|Business Description||Development, manufacture, sales of instrumentation equipment.
Planning, design and construction of service stations and eco-friendly stations.
Plant system engineering of various plants.
Sales of environmental equipment and environmental support business.
Various statutory checks.Maintenance of various types of instrumentation equipment.
|Capital||2.5 billion yen|
|Established||June 15, 1950|
|Date of execution of the share transfer agreement||December 25, 2018|
|Date of transaction conclusion||Scheduled for February 1, 2019|
Hitachi Automotive Systems, Ltd. is a wholly owned subsidiary of Hitachi, Ltd., headquartered in Tokyo, Japan. The company is engaged in the development, manufacture, sales and services of automotive components, transportation related components, industrial machines and systems, and offers a wide range of automotive systems including engine management systems, electric power train systems, drive control systems and car information systems. For more information, please visit the company's website at http://www.hitachi-automotive.co.jp/en/.
Hitachi Automotive Systems Measurement, Ltd. is a wholly owned subsidiary of Hitachi Automotive Systems, Ltd., headquartered in Kanagawa Prefecture, Japan. The company is engaged in energy station construction, plant construction, environmental business, manufacture and sales of instrumentation products and system engineering and its maintenance. For more information, please visit the company's website at http://www.hitachi-automotive-mm.com/en/.