Valeo has announced that it has completed the takeover of Japanese company Ichikoh which it initiated in November last year. The move gives Valeo a 55% stake in Ichikoh which is Japan's leading automotive lighting company.

Ichikoh will remain listed on the Tokyo Stock Exchange but will be fully consolidated by Valeo as from February 1, 2017.  Valeo has also secured the necessary approvals from the relevant anti-trust authorities to proceed with the transaction. 

Jacques Aschenbroich, Valeo’s Chairman and Chief Executive Officer, said, "I am proud to welcome Ichikoh's 5,300 employees to the Valeo family. Thanks to the takeover of Ichikoh, Valeo is strengthening its relationship with Japanese customers and continuing to expand in Asia, particularly in Japan and Southeast Asia, which will account for nearly a third of Group sales.”