Foxconn Plans to Acquire 50% Stake in Mitsubishi Electric Mobility for Joint Automotive Equipment Operations

On October 19, Foxconn announced it would form a strategic alliance with Mitsubishi Electric through its investment subsidiary Lin Yin to jointly operate automotive equipment businesses. Under the agreement, Mitsubishi Electric will transfer a 50% stake in its automotive equipment unit, Mitsubishi Electric Mobility, to Lin Yin for joint management. The transaction value is estimated at 115 billion yen (approximately $727 million). Based on the equity transfer agreement, the target business's enterprise value is 320 billion yen (approximately $2.024 billion), with an equity value of 230 billion yen (approximately $1.454 billion); the deal price is calculated based on the equity value. Upon meeting all relevant conditions, the equity transfer is expected to be completed on October 1, 2027.