October 30, 2013 / 5:51 AM / 4 years ago

Honda to sell electronic parts unit to Nidec for about $500 mln -Nikkei

TOKYO, Oct 30 (Reuters) - Honda Motor Co has agreed to sell its electronic parts subsidiary to Japan’s Nidec Corp , a maker of precision motors, for about 50 billion yen ($500 million), the Nikkei business daily reported on Wednesday.

The deal would be part of a move for Honda and Nidec to cooperate in the growing field of electronic controls for cars, the Nikkei said.

The majority of the stake in the unit, Honda Elesys Co, held by Honda and NEC Corp, would be sold to Nidec as early as 2014, the paper said.

$1 = 98.0900 Japanese yen Reporting by Chang-Ran Kim; Editing by Shinichi Saoshiro

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