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Business deals

Nissan to acquire battery maker Vehicle Energy Japan

Japan automaker says it has secured 'stable battery supplier, competitive edge'

The deal is to acquire the Vehicle Energy Japan shares held by the state-backed Innovation Network Corporation of Japan.

TOKYO (Reuters) -- Japan's Nissan Motor said on Wednesday it had agreed to acquire all the common shares in Vehicle Energy Japan held by the lithium-ion battery maker's biggest shareholder.

Nissan added that after the acquisition of the shares held by the Innovation Network Corporation of Japan (INCJ), a state-backed fund, Vehicle Energy Japan will become its consolidated subsidiary, in which it will hold shares alongside existing shareholders Maxell and Hitachi Astemo.

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