Mazda Shinari Concept

Mazda’s Chief Executive Officer said today that the company is not considering partners other than FoMoCo, hoping to put rest to rumors that its top shareholder was looking to sell most of its remaining stake.

“We have an agreement to continue our strategic partnership with Ford. Therefore, we are not thinking at all of forming an alliance with companies other than Ford,” Mazda’s CEO Takashi Yamanouchi said at a news conference. “In any case, under any circumstances we believe it is important to maintain the Mazda brand.”

On Monday, its was reported that Sumitomo Mitsui Financial Group Inc”s, a Tokyo-based bank, will soon overtake Ford as the largest shareholder in Mazda.

Ford currently holds an 11 percent stake in Mazda.

- By: Omar Rana

Source: Reuters