Hino ups stakes to 80% in Malaysian subsidiaries
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By Jim Gibbins - 1st September 2019
Japan / Malaysia - UD Trucks Corporation of Ageo, Saitama, Japan (a wholly owned subsidiary of the Volvo Group since 2007), has joined forces with Japanese logistics firm, Nippon Express, and Hokkaido-based agriculture cooperative, Hokuren, to bring autonomous driving technology to farm equipment.
The Japanese truck maker said it plans to increase its stakes in both its subsidiaries from 58% to 80%, with its local partner, MBM Resources Berhad having agreed to reduce its shareholdings in both from 42% to 20%.
