Honda and Yachiyo Strengthen Capital Ties; Towards Further Enhancement of the Mini-vehicle Business and Global Parts Supply.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Nov 14, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Honda honda a quick release metal eyelet for the end of a lariat. When the restrained animal is no longer required it is not necessary to slacken off the loop and pull it over the head—a very great advantage when working with wild cattle or unbroken horses. Motor Co., Ltd. today announced that it would further strengthen its capital ties with Yachiyo Industry Co., Ltd. to further strengthen the mini-vehicle business and the global parts supply for Honda products. At the board of directors meeting held on November November: see month. 14, 2006, Honda resolved to buy the shares of Yachiyo through a tender offer, aiming to acquire more than half of the issued shares of Yachiyo. The board of directors meeting of Yachiyo today adopted a resolution to the effect that the company agrees with the tender offer from Honda which currently holds 34.5% of the issued shares of Yachiyo. Demand for fuel-efficient vehicles is getting stronger worldwide, caused by soaring soaring: see flight; glider. soaring or gliding Sport of flying a glider or sailplane. The craft is towed behind a powered airplane to an altitude of about 2,000 ft (600 m) and then released. gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by prices and growing concern over the environmental issues. In Japan, the mini-vehicle market has been growing steadily while the overall vehicle demand have remained sluggish, therefore, amplifying the importance that automobile manufacturers in Japan place on the mini-vehicle business. Under these circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , Honda has been working to enhance its product line-up, production capacity, and sales and service network. Honda and Yachiyo have enjoyed a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. working relationship since 1953 when Yachiyo was contracted to undertake painting process for Honda's motorcycle motorcycle, motor vehicle whose design is based on the bicycle. The German inventor Gottlieb Daimler is generally credited with building the first practical motorcycle in 1885. The motorcycle did not become dependable and popular, however, until after 1900. parts. Today, Yachiyo is responsible for producing the majority of mini-vehicles sold by Honda. Yachiyo also provides stamped parts for automobiles, fuel tanks, sunroofs and service parts. Honda believes this strengthening of capital ties with Yachiyo will enable the two companies to mutually complement each other's resources (such as people, technology, facilities, and financial resources) which Honda intends to utilize to the maximum effect. By sharing a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategy, Honda and Yachiyo intend to further improve quality and competitiveness to provide mini-vehicles with specifications and features best suited for customer requirements in a timely manner. As for the parts supply, both companies aim to strengthen parts supply system required for global business expansion of Honda and for a stronger competitiveness worldwide. Yachiyo Industry Co., Ltd. - as of the end of March, 2006
Established: August, 1953
Capital: JPY 3,685.6 million
Investment ratio Honda Motor Co., Ltd. 34.5%,
Eiichi Otake 20.6%,
Other 44.9%
Location: Saitama (Sayama)
Representative: Shigeru Otake, President & C.E.O.
Business: Manufacture and sale of motorcycle parts and
automobile parts, Manufacture of automobiles
(Honda's mini-vehicles: Life, Zest, Vamos, Hobio,
Acty Truck, Acty Van)
Main operations: Japan: Saitama (Sayama), Shizuoka (Hamamatsu),
Mie (Suzuka, Yokkaichi, Kameyama), Tochigi (Sakura)
Overseas: U.S.(Ohio, Alabama), Canada, Thailand,
Vietnam, China (Zhongshan, Wuhan), etc.
Employees: u@ 6,022
Consol. net sales: JPY 282,777 million (fiscal year ended March, 2006)
Ordinary profit: JPY 7,190 million (fiscal year ended March, 2006)
Other: Began over-the-counter trading at Japan Securities
Dealers' Association (present JASDAQ stock exchange)
in October, 1994
About Honda Motor Co., Ltd. Honda Motor Co., Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :7267/NYSE:HMC/LSE:HNDA.L) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually. For more information, please visit http://world.honda.com. Source: Honda Motor Co., Ltd. Contact: Honda Motor Co., Ltd. Media Inquiries corporate_pr@hm.honda.co.jp +81-3-5412-1512 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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