Jun. 25, 2002
TMC to More than Double Ownership in Toyota South Africa
TOKYO ― TOYOTA MOTOR CORPORATION (TMC) has reached an agreement with joint-venture partner Wesco Investments Limited (Wesco) to boost the percentage of shares TMC holds in Toyota South Africa (Pty) Ltd. (TSA), from 35.7% to 74.9%. TSA is a holding company of Toyota South Africa Motors (Pty) Ltd. (TSAM), which handles production and distribution of Toyota vehicles in South Africa. (Wesco currently owns 64.3% of TSA).
Last year, Toyota vehicles achieved sales of 82,738 units in South Africa for a market share of 22.6%, maintaining the number one spot for 22 years in a row since 1981. Through raising the number of its shares, Toyota hopes to advance production, sales and export strength in South Africa even further.
| Company name | Toyota South Africa (Pty) Ltd. |
| Establishment | 1961 |
| Location | Sandton, South Africa |
| Chairman | Albert J.J. Wessels |
| Capitalization | 527,000 rand (approx. 6 million yen) |
| Operations | Holding company of TSAM |
| Company name | Toyota South Africa Motors (Pty) Ltd. |
| Location | Head office: Sandton, South Africa; Plant: Durban, South Africa |
| COO | Johan van Zyl |
| Capitalization | 50,000 rand (approx. 0.6 million yen) |
| Equity participation | TSA 100% |
| Operations | Production, sales and export of Toyota vehicles |
| Sales results (2001) | 82,738 units (Corolla, Hilux, TUV, etc.) |
| Production results (2001) | 79,093 units* (Corolla, Hilux, TUV, etc.) |
| No. of employees | Approx. 7,000 (as of June 2002) |
*On a line-off base
