JAPAN: Toyota may increase share in Fuji
Toyota is considering hiking its stake in Subaru car maker Fuji Heavy Industries from 8.7% to 17%.
According to the Nihon Keizai Shimbun newspaper, Toyota would pay JPY30bn (EUR190m) for the privilege. The newspaper, citing no source, added that, long-term, Toyota would not raise its share in the company above 20%.
Toyota and Fuji Heavy Industries already cooperate. Toyota subsidiary Daihatsu makes a derivative of its Sirion for Subaru to sell as the Justy in Europe while Fuji's US assembly plant in the US Midwest now churns out Toyota's mid-size Camry sedan, supplementing output from the automaker's own southern state plants.
The newspaper also said the companies are considering developing a sports car together. This follows on from similar rumours last year that said that they were considering developing a low-cost sports car to attract younger drivers.