FY2024-Q3First statedAnnual report
「Regarding the conversion of our Indian subsidiary Suzuki Motor Gujarat (SMG) into a second-tier subsidiary, we transferred all of our shares in SMG to our consolidated subsidiary Maruti Suzuki India (Maruti Suzuki), and subscribed for shares issued by Maruti Suzuki through a third-party allotment as consideration for the transfer. The transaction was carried out with the aim of further enhancing competitiveness through more efficient production operations by having Maruti Suzuki oversee four-wheel vehicle production in India. As a result of the transaction, our ownership interest in Maruti Suzuki increased from 56.48% before the capital increase to 58.19%.」
On 24 November 2023, SMG shares were transferred to Maruti Suzuki, and the group was reorganized so that Maruti Suzuki would oversee four-wheel vehicle production in India. The aim was to improve production efficiency and enhance competitiveness, and the ownership interest increased from 56.48% to 58.19%.