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Nikkei: Stealth Chinese fund becomes 7th largest shareholder in Honda

The Nikkei reports that an investment fund named OD05 Omnibus, believed to have ties to the China government, owned a 2.12% stake in Honda as of the end of September, becoming Honda’s 7th largest stockholder.

China is expected to keep expanding its investments in Japanese companies as a way to manage its foreign currency reserves.

OD05 Omnibus was listed as a major shareholder in 123 Japanese firms at the end of March, with its investments estimated at more than 2 trillion yen. Among the nation’s automakers, it held 52.82 million, or 1.17%, of Nissan Motor Co.’s (7201) outstanding shares at the end of March, coming in ninth.

Comments

HarveyD

This may be a wise long term decision and certainly better than leaving $$$$B in the national reserve bank and/or buying very low interest (USA & EU) foreign bonds. Nissan-Honda-Toyota are among the world best vehicle manufacturers and their advanced technology could help the Chinese auto industry.

ToppaTom

Original headline lacked punch.

"Nikkei: Stealth Chinese fund becomes 2% shareholder in Honda"

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