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Honda to sell electronic parts unit to Nidec for about $500 million: Nikkei
October 30, 2013 / 5:51 AM / 4 years ago

Honda to sell electronic parts unit to Nidec for about $500 million: Nikkei

TOKYO (Reuters) - Honda Motor Co (7267.T) has agreed to sell its electronic parts subsidiary to Japan’s Nidec Corp (6594.T), a maker of precision motors, for about 50 billion yen ($500 million), the Nikkei business daily reported on Wednesday.

Visitors look at a Honda Motor Co's car displayed outside the company showroom in Tokyo April 26, 2013. REUTERS/Yuya Shino

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 (6701.T), would be sold to Nidec as early as 2014, the paper said.

Reporting by Chang-Ran Kim; Editing by Shinichi Saoshiro

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