August 10, 2016
Fuji Heavy Industries Sells Investment Securities
Tokyo, August 10, 2016 – Fuji Heavy Industries Ltd. (FHI) today announced the Company sold the entire shares of common stock it held in Suzuki Motor Corporation (Suzuki; Head office: Hamamatsu City, Shizuoka; Representative director and president: Toshihiro Suzuki) on August 9, 2016.
In December 1999, FHI and Suzuki announced the formation of a strategic relationship and agreed to hold shares in each other as a symbol of the alliance. FHI acquired 5,780,000 shares in Suzuki, which were held until the sale which took place yesterday.
In November 2015, FHI established Corporate Governance Guidelines with the aim of the Group achieving sustainable growth and increasing its corporate value in the medium and long term. The guidelines were developed respecting the Corporate Governance Code that was introduced by the Tokyo Stock Exchange under the Securities Listing Regulations. In the process of refining the Group’s cross-shareholding policy according to the principles of the guidelines, FHI decided to sell its entire shareholding in Suzuki.
The sale of these investment securities does not require any revision to FHI’s projection of consolidated results for the fiscal year ending March 31, 2017.
The FHI Group will continue to work on the enhancement of corporate governance as one of the top priorities of management in order to gain the satisfaction and trust of all its stakeholders.
Details of Sale
| (1) Securities sold: | Common stock in Suzuki Motor Corporation |
| (2) Number of shares sold: | 5,780,000 (FHI’s entire shareholding in Suzuki) |
| (3) Transaction contract date: | August 9, 2016 |
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