Japan’s Stanley Electric signs capital alliance agreement with Honda

Japan’s Stanley Electric (6923.T) has signed a capital and business alliance with Honda Motor Co (7267.T) to facilitate next-generation technologies for vehicles, it said on Tuesday.

Stanley Electric will transfer 7.5 million of its shares to Honda for 2,534 yen ($17.57) per share, the company said in a statement.

The two companies aim to decarbonise the supply chain, consolidate parts and improve the efficiency of product development.

($1 = 144.2500 yen)