Subaru's parent company Fuji Heavy Industries is about to get a name change. Pending final approval from company shareholders, Fuji Heavy Industries will switch its name to Subaru Corporation.
The name change makes sense considering that the conglomerate's Subaru automobile division is the most its other operations, which include aerospace manufacturing and multiple industrial products like generators, water pumps, and engines for snowmobiles and ATVs.
The meeting for shareholder approval will take place next month. If approved, Fuji Heavy Industries will change its name to Subaru Corporation on April 1, 2017, which coincides with FHI's 100th anniversary.
FHI was founded in 1917 by Chikuhei Nakajima, a Japanese engineer who established the company to produce aircrafts. In 1945, the company changed its focus to producing civilian goods and reorganized as the Fuji Sangyo Company. In 1953, five of the 12 companies split from Fuji Sangyo Co. to form Fuji Heavy Industries. Subaru automobiles was formed in 1958 when FHI launched its , the Subaru 360 minicar.
In addition to FHI's name change, 2017 should mark another significant milestone for the company. Based on its strong Subaru'sannual sales number is projected to surpass 1 million for the first time in its history.
Source: Fuji Heavy Industries