Isuzu Motors president Yoshinori Ida reportedly said his company has called on its top stakeholder General Motors to increase its stake in the Japanese truck maker.
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In an interview with Kyodo News cited by Reuters, Ida reportedly said he wants GM to remain his company’s biggest stakeholder in the future. Although he made no mention of how big a stake GM should take, he apparently wants GM’s ownership to exceed 20%.
Reuters noted he made the remark ahead of trading house Mitsubishi Corp.’s planned purchase of preferred shares to be issued by Isuzu. The shares, once converted into common stock, will raise Mitsubishi’s stake in Isuzu to about 11%, slightly above GM’s stake of 10.26%.
Ida reportedly also said Isuzu and three other Japanese truck manufacturers should collaborate in developing products or in using common parts in order to increase their international competitive edge.
According to Reuters, he also said that to cope with the recent shortage of steel, Isuzu intends to make procurements from next year from countries such as South Korea and Brazil.
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