Aisin Seiki acquired more shares in Indonesia unit

Japanese Aisin Seiki Co Ltd has completed the acquisition of 16% shares in automotive parts manufacturer PT Aisin Indonesia at Rp123.33 billion (US$13.4 million) to boost its total shares in the company to 56.1%.

Aisin bought additional shares from PT Senantiasa Makmur, a subsidiary of listed automotive parts manufacturer PT Astra Otoparts Tbk. With the acquisition, Senantiasa's shares decreased to 34%. Other shareholders at PT Aisin Indonesia are Aisin Takaoka Co Ltd (3.3%), Aisin Chemical Co Ltd (3.3%), and Toyota Tsusho Corporation (3.3%).

PT Astra Otoparts Tbk is a subsidiary of diversified group PT Astra International Tbk. The group is the largest automotive manufacturer and distributor in Indonesia. Singapore's Jardine Cycle & Carriage Limited is the largest shareholder at Astra International with 50% stakes.

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