The company is now 30 years old. As it goes into its next 30, Taisuke Nakamura is leading the design challenge.
Gary S. Vasilash
Editor-in-Chief, AutoBeat Group
Akebono Brake Industry Co. says 37 of its creditor banks have agreed to forgive 56 billion yen ($517 million) in debt to help the company through an out-of-court based turnaround.
Ailing Akebono Brake Industry Co. says it has secured 20 billion yen ($185 million) from turnaround specialist Japan Industrial Solutions Co. in exchange for new stock shares.
Wilm Uhlenbecker has taken over as president of Brose Groups North American unit, effective July 1.
Japanese supplier Akebono Brake Industry Co. could close two of its four brake component factories in the U.S. to offset a slump in orders, The Nikkei says.
Japan’s Akebono Brake Industry Co. Ltd. predicts it will post an adjusted net loss of 19.2 billion yen ($174 million) in the fiscal year ending March 31, citing losses in the U.S.