Japan’s Stanley Electric signs capital alliance agreement with Honda

TOKYO (Reuters) – Japan’s Stanley Electric has signed a capital and business alliance with Honda Motor Co 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)

(Reporting by Satoshi Sugiyama, Editing by Louise Heavens)