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Hitachi and Honda to merge affiliated parts makers

New company to be Japan's third largest auto component maker

The new company that Hitachi and Honda Motor are creating is expected to have sales of 1.7 trillion yen.

TOKYO -- Hitachi and Honda Motor plan to establish a new company and merge four affiliated auto component makers into it, the two Japanese companies announced on Wednesday.

Hitachi will provide 66.6% of the new company's capital, with Honda providing the rest of the investment.

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