TOKYO -- Automotive motor manufacturer Igarashi Electric Works plans to turn an Indian venture into a subsidiary in a bid to boost output in a key production base.
By teaming with local financial services provider Tata Capital, the Japanese company expects to buy the joint venture's roughly 52 million outstanding shares -- 97.9% of the total -- from major U.S. investment fund Blackstone Group for about 13 billion yen ($103 million).
