Sumitomo Mitsui Financial Group Inc., intends to take over Ford's share in Mazda. The company will become the majority shareholder of Mazda Motor Corporation from late 2010.
The statement disclosed Masayuki Oku, Chairman of Sumitomo Mitsui Group, in
Currently, Ford Motor Company is still holding 11 percent shares of Mazda Motor. While the right of ownership of shares in Mazda Motor Sumitomo Mitsui currently only about 2.9 percent.
As reported Nikkei.com, Saturday (16/10), FMC intends to sell most of its shares are now remaining in Mazda Motor to the Sumitomo Group and other companies that have business relationship with Mazda. Ford will reduce the amount of its stake in Mazda from 11 percent to 3 percent or less.
"But Ford said the report as speculative statement," call the Nikkei business daily on Friday (15/16) as quoted automotivenews.com, Saturday (16/10).
Ford's statement confirms the status of its shares in Mazda has not changed. "Ford's continued strategic partnership with Mazda and we cooperate in a mutually beneficial position. We have no further comment on speculative statement that, "said Mark Truby, a spokesman for the manufacturer from
Ford became the largest shareholder of Mazda in 1979 by purchasing 25 percent stake this Japanese company. In 1996, Ford's ownership of shares increased to 33.4 percent of Mazda, and Ford also holds management control of Mazda.
Takeshi Miyao, Carnorama analyst at consulting firm with offices in
"Ford wants to strengthen its business in developing countries such as
On the other hand, he continued, trying to re-strengthen Mazda's domestic production in