Sumitomo Mitsui Intend to Take Over Ford's Mazda

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 Tokyo, as reported by the Mainichi Daily News, Monday (18/10).

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 Michigan, United States, it is.

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 Tokyo, said there were gaps in the alliance strategy of Ford Mazda. Currently holding 195 million Ford shares, Mazda or the equivalent of U.S. $ 515.6 million or around Rp 4.64 trillion (exchange rate of U.S. $ 1 = Rp 9,000). "Mazda ask Sumitomo Mitsui Banking Corp. Sumitomo Corp. and other companies in the Sumitomo group to buy the Ford stock, "writes the Nikkei.

"Ford wants to strengthen its business in developing countries such as China, Thailand to move its production base in Southeast Asia," said Miyao.

On the other hand, he continued, trying to re-strengthen Mazda's domestic production in Japan. Strategy that is the obstacle between the two manufacturers are.

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