UPDATE 1-Hitachi to merge auto parts affiliate Tokico

Newswire

(Updates with Hitachi CEO comments) TOKYO, March 26 (Reuters) - Japan's Hitachi Ltd said on Friday it would merge its car parts affiliate Tokico Ltd into the main company to strengthen its auto components operations in a 37 billion yen ($349 million) share exchange. Hitachi, which already has a 23.9 percent stake in Tokico, said the merger will be carried out on October 1 and Tokico shares will be delisted in late September. One Tokico share will be exchanged for 0.521 Hitachi share, ...

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