Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a significant supplier of automotive components, said that it is buying the whole company of Ichikoh Industries, a subsidiary of Valeo SE, for 5.2 billion Japanese Yen (JPY).
According to a statement from the business, the acquisition will be made through its Vision systems division and will be subject to typical closing adjustments for working capital and debt/debt-like items.The deal comprises Ichikoh’s mirror business, which primarily serves Japanese original equipment manufacturers and develops and produces vehicle mirrors and related components in China and Japan (OEMs). In 2021, the target company generated JPY 15.8 billion in sales.
With this deal, Motherson would expand its IP portfolio by 260 patents and three production locations spread throughout China and Japan, the company said. “Our Vision 2025 includes organic and inorganic growth in equal measure. With this purchase, Motherson will have design and production capabilities in Japan, enabling better coordination and a stronger engagement with Japanese clients for both their domestic and international operations.