TOYOTA MOVES AHEAD WITH COMPLEMENTARY AUTO PARTS SCHEME
FOR ASEAN REGION

Toyota City―TOYOTA MOTOR CORPORATION said today that it will soon establish three new subsidiaries in the Philippines, Malaysia, and Singapore as part of the company's complementary auto parts scheme for ASEAN announced last September. Included are two new parts manufacturing ventures for the Philippines and Malaysia, and a new coordination and management company for Singapore.

The two new production bases are T&K Autoparts Sdn. Bhd., a joint venture with Koyo Seiko Co., Ltd., for production of steering links in Malaysia, and Toyota Autoparts Philippines Inc., which will produce transmissions. Toyota plans to nurture these bases for future exports to areas outside the ASEAN region, including Japan.

The new Singapore company is Toyota Motor Management Services Singapore Pte Ltd, a wholly owned subsidiary that will coordinate and manage transactions between the various countries in conjunction with the expanded and improved setup for parts complementation.

Toyota has had automobile production bases in the region for more than 25 years and, in line with government policies for domestic automobile production, currently operates plants in Thailand, Indonesia, Malaysia, and the Philippines. Under the complementary parts scheme, Toyota aims to bolster business operations in the region through concentrated production of major functional parts and a clear division of labor.

The total value of transactions within the region is expected to exceed $100 million annually by about 1992.

Role of Toyota Motor Management Services Singapore