Skip navigation
Newswire

Sumitomo Corp to buy auto parts maker from fund

TOKYO, June 21 (Reuters) - Japanese trading house Sumitomo Corp said on Monday it plans to buy auto parts manufacturer Kiriu Corp in July from investment fund Unison Capital for around 10 billion yen ($92 million).

Unison Capital, a Japanese investment fund, bought Kiriu, a former Nissan Motor Co affiliate in 2001 and owns roughly 90 percent of the brake disc manufacturer.

Details of the deal would be released at 11:30 a.m. (0230 GMT), Sumitomo Corp spokesman Yasuhito Umechi said. ($1=108.65 yen)