JAPAN: Bosch sells 5.7% stake in Denso
By Simon Warburton | 8 November 2012
Bosch has sold its 5.77% stake in Denso for a sum believed to be in the region of US$1.4bn, although the Japanese component maker is not confirming the figure.
Extremely limited information is available as to the reasons behind the sale or full confirmation of the figure, but Denso says it has been "informed" of Bosch's move.
Denso is resolutely declining to reveal the numbers involved, confining itself to noting to just-auto from Holland: "The only thing we have is the share, which is 5.77%.
"We are not putting out any of the figure [s]. It is not in our interest in giving details [of] that."
A statement from Denso said both companies would "continue to work together within the framework of existing partnerships and alliances.
"In the future, Bosch and Denso will continue to examine opportunities for alliances that will allow them to satisfy the requirements of the global automotive industry."
Denso's first fiscal half sales rose 23% to JPY1,733.1bn (US$22.3bn). Operating income soared 328% to JPY136.3bn. Net income was up 235% to JPY78.1bn.
Bosch in Germany was not immediately available for comment.
Sectors: Components, Financial, Service suppliers/supply chain
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