Tokyo -- Nissan Motor Company announced today that it will sale its entire stake in IID Inc. through management buyout (MBO) to IID Management Board and three private equity funds, NIF Ventures Co., Ltd., Fuji Capital Markets Corp. and New Business Investment Co., Ltd..
The transaction is scheduled to be completed in mid-November.
Established in 1990, IID Inc. is a wholly owned Nissan subsidiary. Its main business includes automobile design, product planning and sales related market research and customer satisfaction research. Currently, IID is building on the high level of expertise that it has accumulated in research, planning and consulting to expand its customer base to include companies outside of the Nissan group.
Nissan's business with IID will continue.
The sale of IID is part of Nissan's program to free up resources from non-core holdings to focus on investing in new products and technologies. As part of its commitment in the Nissan Revival Plan, the company has reported net consolidated profit in fiscal year 2000 and has committed to achieving an operating margin of at least 4.5 percent and reducing net consolidated automotive debt to no more than 700 billion yen by the end of fiscal year 2002.
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- Outline of IID Inc. - |
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Company Name: |
IID Inc. |
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Business Areas: |
Planning, analysis and consulting for market research related to design, product planning and sales |
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Establishment: |
October 1990 |
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Representative: |
Makoto Moriya, President |
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Location: |
Minato-ku, Tokyo |
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Employees: |
Approximately 60 |
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