TOKYO -- Kawasaki Heavy Industries announced on Friday that it will sell a 20% stake in wholly owned subsidiary Kawasaki Motors to general trader Itochu for 80 billion yen ($524 million), with the companies entering an alliance that will focus on the U.S. market.
The 20% stake will be transferred to Itochu through a third-party allotment, after which Kawasaki Heavy will hold the remaining 80% of Kawasaki Motors, which it spun off in 2021.
