Dec. 01, 1976

TOYOTA ESTABLISHES JOINT VENTURE COMPANY IN INDONESIA

P. T. Toyota-Mobilindo Will Manufacture Auto Components

 

TOKYO―Toyota Motor Company, Ltd., and Toyota Motor Sales Company, Ltd., announced today that they established P. T. Toyota-Mobilindo on November 23 as a joint venture with local capital participation for the production of motor vehicle components. The Indonesian Government granted approval on October 12 for carrying out all aspects of the Company's establishment, and formal application for registration of the Company will be filed at the Indonesian Ministry of Justice in the near future.

Capital participation in the new Company will be as follows: Toyota Motor Company, Ltd., and Toyota Motor Sales Company, Ltd., will each have 30 per cent ownership, and P. T. Astra International, Inc. (Head Office in Jakarta) will have 40 per cent ownership. The President Director of P. T. Toyota-Mobilindo will be Mr. Hideo Kamio (President Director of P.T Toyota-Astra Motor).

Toyota established P. T. Toyota-Mobilindo in order to cooperate and comply with the Indonesian Government's policy on local participation in automobile manufacturing. The new company's production activities will center on components for the Toyota BUV (Basic Utility Vehicle), scheduled to go on sale in Indonesia around May 1977.

Outline of P. T. Toyota-Mobilindo.

  1. Name
    P. T. TOYOTA-MOBILINDO
  1. Address
    Jl. Yos Sudarso, Sunter, Jakarta, Indonesia
  1. Capital
    415,000,000 rupiahs (US$1,000,000)
  1. Capital participation
    1. Toyota Motor Co., Ltd.
      ―30 per cent
    2. Toyota Motor Sales Co., Ltd.
      ―30 per cent
    3. P. T. Astra International, Inc.
      ―40 per cent
  2. Officers
    1. President Director Hideo Kamio (President Director of P. T. Toyota-Astra Motor)
    2. Three directors (including President Director Kamio) from Toyota side, and two from Indonesian side
    3. Two commissioners from Toyota side, and one from Indonesian side