Toyota, Isuzu to Dissolve Capital Tie-Up
Tokyo, Aug. 3 (Jiji Press)--Toyota Motor Corp. <7203> and Isuzu Motors Ltd. <7202> said Friday that they have agreed to dissolve their capital alliance.
Toyota plans to sell its entire 5.89 pct stake in Isuzu, or 50 million outstanding shares.
The two Japanese automakers can maintain their cooperative relationship in the field of technological development even after ending the capital tie-up, a Toyota official said.
In November 2006, Toyota took a stake in Isuzu after the two companies agreed to tie up in such fields as diesel engine development and production as well as environmental technologies.
But the two companies have suspended some of envisaged joint projects in response to changes in the market environment.
[Copyright The Jiji Press, Ltd.]