Honda Motor on Wednesday said it would make two affiliates into wholly-owned subsidiaries by a share exchange on 28 April so the company can strengthen its management base by obtaining logistical business know-how from them.
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Kyodo News said Honda, which holds a 50% stake in terms of voting rights in each, said it would then merge Honda Express and Komyo into a single entity on 1 October.
Honda Express, based in Suzuka, Mie Prefecture, is a shipper, packaging and storage company while Komyo operates warehouses based in Sayama, Saitama Prefecture, the report added.
