Central Automotive Products Ltd. (TSE:8117) acquired 91% stake in ABT Corporation from Mitsubishi Corporation (TSE:8058) for ¥5.2 billion on November 28, 2019. Central Automotive Products Ltd. acquired 182 shares in ABT Corporation. In a related transaction, Central Automotive Products Ltd. agreed to acquire 9% stake in ABT Corporation on November 28, 2019. Post completion of both the transactions, ABT Corporation will operate as a wholly owned subsidiary of Central Automotive Products Ltd. For the year ending March 2019, ABT Corporation reported net assets of ¥395 million, total assets of ¥1.08 billion, sales of ¥5.42 billion, operating income of ¥804 million. The approval of the board of directors for share acquisition was received on November 28, 2019 by Central Automotive Products Ltd.

Central Automotive Products Ltd. (TSE:8117) completed the acquisition of 91% stake in ABT Corporation from Mitsubishi Corporation (TSE:8058) on November 28, 2019.