Toyota has announced that, as a joint venture with CHINA FAW GROUP CORPORATION (FAW), it established on March 4 a company in Tianjin, China, to produce large automotive stamping dies. TOYOTA FAW (TIANJIN) DIES CO., LTD. (TFTD) is capitalised at US$12 million (approx. 1.3 billion yen) with Toyota investing 90% of the capital and FAW 10%.