Hitachi to Become Biggest Shareholder in Car Audio Maker Clarion

TOKYO December 31, 2004; Japan Today reported that Hitachi Ltd said Monday it will become the biggest shareholder in Clarion Co, a leading maker of car audio equipment, by acquiring an equity stake of 14.52% from a U.S. investment company.

Hitachi will pay some 11 billion yen to purchase 40,707,000 Clarion shares from HBK Master Fund L.P., based in Texas, at an unspecified date.

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