Toyota Motor will merge its two subsidiaries in California on 1 April in a bid to improve its operational efficiency in North America from development to production.
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According to Kyodo News, Toyota said its research and development affiliate Toyota Technical Centre USA will take over its US public relations and marketing operator Toyota Motor North America. But the new company will continue with the name and functions of the latter firm.
The new company will transfer the functions of TTC to another Toyota affiliate, Toyota Motor Manufacturing North America, on the merger date, Toyota reportedly said.
Toyota will hold about 6.58 million shares, equivalent to a 99.9% stake, in the new company, but the merger will have little impact on its consolidate earnings, it said, according to Kyodo.
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