Mazda Motor Corporation Sells Naldec Corporation shares to U.S. Visteon

Mazda Motor Corporation today sold all shares of Naldec Corporation, an automotive electronic device supplier and a wholly owned subsidiary, to Visteon Automotive Systems, an enterprise of Ford Motor Company.

The sale is consistent with Mazda's strategy to strengthen its supply base by attracting global suppliers to Hiroshima. Visteon will substantially improve Naldec's competitiveness with new technology, improved quality processes, R&D capability and sales growth opportunities not previously available to the company.

This transaction will give Mazda a more competitive and full-service supplier and improve management efficiency. Furthermore, Hiroshima prefecture will benefit from the presence of a global supplier, new technology and the growth of a local company.

Naldec was established in 1987 as an automotive electronic device supplier owned 50% by Mazda with the remaining 50% owned by NEC. Mazda acquired 100% of their shares on June 30 of this year to make it a wholly owned subsidiary.