Joint Statement Regarding Capital Increase Project of Changan Mazda Automobile Co., Ltd.. (CA) and China FAW Corporation Limited (FAW), today, have issued the following joint statement.
Upon completion of the examination procedures by relevant authorities of the Chinese government in accordance with laws and regulations, CMA will become a new joint venture company (new CMA)1 whose shareholders will be Mazda, CA and FAW. Mazda and CA will each own 47.5 percent of shares while FAW will own 5 percent. New CMA will continue to be responsible for the operations of former CMA and other Mazda-related business. FMSC will also continue to be engaged in Mazda brand vehicle business as a joint venture owned by new CMA and Mazda.
With the change in the investment structure, the three companies aim to utilize every strategic and managerial opportunity in the new joint investment company and strive to make its business and management system optimal to adapt to the needs of the expanding Chinese market.
(1) Herein, referred to as new CMA for clarity, but the name of the company will remain CMA.
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