JAPAN: Mazda forms new Chinese sales joint venture
Mazda Motor Corp. will form a sales joint venture with FAW Mazda Motor Sales Co. which will be capitalised at 100 million yuan ($US12 million), according to Reuters, which said Mazda will own 25%, FAW Car Co. Ltd. (FCC), a unit of China's largest auto maker First Automotive Works (FAW), will own 70% and FAW 5%.
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