Mazda Strengthens its Share in U.S. subsidiary

12/31/96

Kyodo reports that Mazda announced last Friday that it had contributed additional capital to its import and distribution subsidiary in the U.S., Mazda Motor of America Inc (MMA). The move strengthens its financial structure, and will provide a firmer business base for 1997.

Mazda said it bought 5.63 million newly issued shares in the company, which is worth a total of 126 million dollars. The capital increase brings MMA's capital value to 166 million dollars. There are about 7.42 million outstanding shares. Mazda said its share purchase brought its shareholding in MMA to 87.95% from 50%.

Paul Dever -- The Auto Channel

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