Toyota Increases Stake in Daihatsu

Tokyo―Toyota Motor Corporation (TMC) announced today its plans to purchase a majority stake in Daihatsu Motor Co., Ltd. (Daihatsu). The purchase will give TMC a 51.2% stake (up from 34.5%) in the automaker.

Numerous challenges currently facing the global auto industry, including fierce global competition and the push to create environmentally friendly products spurred the decision to strengthen ties between the two companies. TMC hopes to preserve the individuality of Daihatsu while deepening cooperation in such areas as product development, production, and sales. The closer relationship is expected to strengthen the overall Toyota group and both companies' business performance as well.

Daihatsu specializes in mini- and small vehicle development and production. It has amassed a wealth of independently obtained knowledge regarding producing high-quality, low-cost vehicles utilizing advanced technology. Toyota and Daihatsu have worked together since 1967, and have built a strong cooperative relationship focused on the development and production of Toyota products. TMC and Daihatsu agreed to the purchase after deciding that more unified strategic development activities that went beyond those to date could more effectively ensure the future success of both companies.