Mitsubishi Electric, Foxconn reach auto business agreement

16. Oct 2026

(AWP Alliance News) - Mitsubishi Electric Corp - Tokyo-based electronics and electrical equipment maker - Reaches final agreement with Hon Hai Precision Industry Co Ltd for the joint operation of an automotive equipment business. "Through the alliance, the companies aim to develop next-generation mobility and thereby strengthen the sustainable growth of the Japanese automotive industry," says Mitsubishi. Mitsubishi will transfer 50% of its stake in Mitsubishi Electric Mobility Corp, the company's automotive equipment business, to Lin Yin International Investment Co, a Foxconn subsidiary. The share transfer price is expected to be JPY115.0 billion, or USD728 million, corresponding to a 50% stake. The agreement establishes an enterprise value of JPY320.0 billion and an equity value of JPY230.0 billion for the target business. The share transfer is expected to be completed in October 2027.

Current stock price: JPY5,005.00, closed up 1.8% in Tokyo on Friday

12-month change: up 30%

By John Robaina, Alliance News reporter

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