TOKYO, June 18 (Reuters) - Japan's Hitachi ( HTHIF ) is

considering selling its 40% stake in an air-conditioning joint

venture with Johnson Controls International Plc ( JCI ),

Bloomberg News reported on Tuesday, citing people familiar with

the matter.

The deal could value the joint venture, Johnson

Controls-Hitachi Air Conditioning, at almost 500 billion yen

($3.16 billion), Bloomberg reported citing the sources.

A Hitachi ( HTHIF ) spokesperson said no decision has been made at

this time, adding Hitachi ( HTHIF ) "considers ways to enhance its

corporate value."

Johnson, which owns the other 60%, has been seeking to sell

its heating and ventilation assets, including the joint venture,

for months, according to Bloomberg.

($1 = 158.0800 yen)