Nov. 01, 2000

MITSUBISHI ESTATE CO., LTD.
TOYOTA MOTOR CORPORATION

Toyota to Join Management of Fuji Speedway
Partnership with Mitsubishi Estate Key to Operating International Circuit

 

Tokyo―Mitsubishi Estate Co., Ltd. (Mitsubishi Estate) and Toyota Motor Corporation (TMC) announced today that TMC will participate in the management of Fuji International Speedway Co., Ltd. (FISCO), which operates the Fuji Speedway racing circuit in Shizuoka Prefecture. The two companies have agreed that TMC will acquire a majority stake in FISCO, which is currently controlled by Mitsubishi Estate.

Through its management of FISCO, which has long contributed to the advancement of motor sports in Japan by hosting such races as the Formula One World Championship Race in 1976 and 1977, TMC aims to enhance, on an international stage, its continuous and broad support of motor sports, which it sees as playing a key role in creating a sound automobile society in the 21st century.

TMC will mainly focus on managing the history-filled and tradition-rich Fuji Speedway racing circuit, relying on Mitsubishi Estate's extensive know-how in this field. It plans to turn the speedway into a truly world-class circuit, equipped with peripheral facilities for safe-driving seminars, amusement and other activities.

To this end, it was decided today at a FISCO board meeting that TMC will shortly assume a portion of FISCO stock owned by Mitsubishi Estate amounting to 2.15 million shares, or approximately 49% of outstanding shares. TMC intends to soon raise that amount to 67% when FISCO carries out a planned third-party allocation of shares to increase its capital.

For ReferenceFISCO's Stock Composition
For Reference: FISCO's Stock Composition

Outline of Fuji International Speedway Co. Ltd. (FISCO)*

Location (head office)
2-7-3, Marunouchi, Chiyoda-ku, Tokyo
Location (racing circuit)
645-4, Omika, Oyama-cho, Sunto-gun, Shizuoka Prefecture
Established
December 1963
President
Kaoru Kohno
Sales
1,666.88 million yen
Current income
-323.66 million yen (loss)
Capital
2.2 billion yen
No. of outstanding shares
4.4 million
Employees
53
Main business
Management of auto racing circuits
FISCO's Racing Circuit
  1. Course length
    4,400m for four-wheel vehicles; 4,416m for motorcycles
  2. Course width
    12m to 15m (with a safety zone from 6m to 35m)
  3. Course surface
    Special asphalt
  4. Paddock area
    10,947 sq. m. for Paddock A; 9,153 sq. m. for Paddock B
  5. Pit area
    4,250 sq. m. (45 pit garages)
  6. Seated-crowd capacity
    Approx. 18,000 main stand reserved seats; 30,000 unreserved seats
  7. Parking lot capacity
    More than 10,000 cars
  8. Miscellaneous facilities
    Control center, gymkhana course, test course, dirt bike course, motocross course, etc.
  9. Total site area
    Approx. 3.6 million sq. m.
  10. Total number of visitors
    Approx. 1 million per year (as of 1999)
  11. Access
    Approx. 10km from Gotenba Interchange on Tomei Expressway; approx. 15 minutes by taxi from Gotenba Station on JR Gotenba Line
FISCO's History
December 1963
Established
December 1965
Racing circuit completed
January 1966
Opens for business
May 1966
Hosts 3rd Japan Grand Prix Race
October 1966
Hosts Indy Fuji 500 Miles (FISCO's first international race)
October 1976
Hosts Formula One World Championship Race
October 1977
Hosts Formula One World Championship Race
November 1999
Hosts Le Mans Fuji 1000km

*All figures as of March 31, 2000.