Itochu Boosts Investment in Akebono Brake

(Akron/Tire Review) Itochu Automobile America Inc. and Itochu International Inc. have combined to acquire an interest in Akebono Brake Corp. Akebono said the investment will enhance “resources” and increase Akebono’s distribution. The deal was consummated on Mar. 31.

Under the transaction, the Itochu Group redeemed its 40% interest in Amak Brake LLC, one of Akebono’s North American subsidiaries, and at the same time purchased a 20% stake in Akebono Brake Corp

The transaction followed Itochu’s investment in Akebono Brake Industry Co., a publicly traded company listed on the Tokyo Stock Exchange.