According to the latest reports, Japan's Hitachi Ltd. is considering selling its 40% stake in its air conditioning joint venture with Johnson Controls International Plc. This information comes from insiders familiar with the matter. Although the specific details of the transaction have not yet been disclosed, the move is widely regarded as a strategic action by Hitachi to enhance overall corporate value.
The joint venture, named Johnson Controls-Hitachi Air Conditioning, is reportedly valued at up to 500 billion yen (approximately $3.16 billion). This valuation reflects its significant position and performance in the global market.
A Hitachi spokesperson stated that the company has not made any decisions yet. He added that Hitachi has been considering various ways to boost its market value, and selling the shares is just one of the many potential options.
Meanwhile, Johnson Controls International Plc, which holds 60% of the joint venture, has reportedly been looking to sell its investments in the HVAC sector, including this joint venture, over the past few months. This move indicates the company's intention to adjust its business structure and optimize its asset portfolio.
