Suzuki to lower Hungarian capital 30%
Japanʼs Suzuki Motor Corporation is planning to reduce capital at its Hungarian unit by approximately 30%, precisely €156 mln, and use the freed up resources for developments at other plants, Magyar Suzuki said on Friday.
The Hungarian subsidiary noted that shareholders approved the capital decrease. According to the firm the Hungarian production will not be affected by the move in “any way”, adding that it will remain “substantially overcapitalized”.
Net assets will remain over 50% of total assets, which translates as "outstanding liquidity" within the automotive industry, Magyar Suzuki said. Magyar Suzukiʼs registered capital will be reduced from €303 mln to €213 mln. Profit reserves will fall from about €218 mln to €153 mln, and capital reserves will drop from almost €5 mln to a little over €3 mln.
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