Tokyo - Mazda Motor Corp plans to buy back a 20-per-cent stake from Ford Motor Co during Wednesday trading at the Tokyo Stock Exchange, the Japanese automaker said Tuesday.

With Mazda's buyback, Ford's stake would reduce to 13 per cent from the current 33.4 per cent in order to raise funds by selling Mazda shares.

Mazda was expected to purchase 96.8 million shares for 184 yen per share, worth a total of about 17.9 billion yen (185.18 million dollars), the company said.

But the two companies would continue their 30-year business partnership while keeping their joint ventures, Mazda said.

Another struggling US automaker, General Motors Corp, also sold its stake in Suzuki Motor Corp Tuesday to raise funds. (dpa)