Motherson Group acquires Japan-based Ichikoh's mirror biz for $36-M

Publicly listed Samvardhana Motherson International Limited, via Samvardhana Motherson Automotive Systems Group BV (SMRPBV), is to acquire 100% of the mirror business of Ichikoh Industries (a subsidiary of Valeo SE) at an enterprise value of JPY 5.2 Billion (about USD 36 million). The transaction includes Ichikoh's mirror business (development and manufacturing of automotive mirrors and associated products) in Japan and China, catering largely to Japanese OEMs. The business reported revenues of JPY 15.8 Billion in 2021. With this transaction Motherson will add three manufacturing facilities across Japan and China and 260 patents to its IP portfolio. Ichikoh is listed on the Tokyo stock exchange and is engaged in lighting and mirror business as a Tier1 auto-parts supplier to various OEMs.