Hitachi, Ltd. has announced on 21 March that it would sell 7,800,000 shares (Proportion of all voting share: 14.76%) of Hitachi Maxell to SMBC Nikko Securities Inc. on 22 March 2017.
After the transfer, Hitachi will retain 14.76% of all voting shares of Hitachi Maxell, which will no longer be an equity method affiliate of Hitachi. The company name of Hitachi Maxell will be changed to Maxell Holdings, Ltd. (Tentative name) on 1 Oct 2017 to reflect its operating independency.
Hitachi and Hitachi Maxell will continue to cooperate on rechargeable battery and automobile related business, and certain areas of research and development after the transaction.
Source: Hitachi Maxell