Aug 30 2019

Toyota and Suzuki to Strenghten Alliance by acquiring Stake in Each Other

In a bid to strengthen their alliance Toyota and Suzuki will pick up stakes each other’s company. The move is being done in the light of the overall environemtn in the auto industry that calls for mutual efforts to fend off threats of different nature.

Under this agreement, Toyota Motor Corporation will buy 2.4 crore shares (common stocks) being valued ¥96 billion. Suzuki will receive Toyota shares of half this value that is ¥48 billion.