Suzuki CEO says long-term relationship with GM

Tokyo, Jan 25: The head of Japan's Suzuki Motor Corp said on Thursday he had agreed with his counterpart at former parent General Motors Corp to maintain their current relationship with a longer-term view.

Suzuki had bought back all but 3 percentage points of the 20 percent stake that GM had held in it to help the cash-strapped U.S.

auto maker last March, and the two had agreed at the time to leave an option for GM to buy back the shares for up to a year.

''We agreed to maintain the current relationship with a long-term, strategic view,'' Suzuki Chief Executive Osamu Suzuki told a news conference, adding that he had met with GM CEO Rick Wagoner last November in Japan.

''It's not realistic to expect a company's finances to improve like magic after only a year,'' he added.

Reuters