Subaru Effectively Joins Toyota Group
Tokyo, Feb. 6 (Jiji Press)--Japanese automaker Subaru Corp. <7270> said Thursday Toyota Motor Corp. <7203> has raised its stake in Subaru to 20.0 pct from 16.8 pct, effectively making it a Toyota group company.
Within the group, Subaru aims to accelerate research and development activities for next-generation technologies, such as autonomous driving and automobile electrification, fields in which it lags behind its rivals.
Subaru's bottom line will be reflected in Toyota's consolidated earnings. The two companies agreed on the additional investment in September last year.
The latest development will "make Subaru's business ties with Toyota even stronger, and make a contribution to its sustained growth and an increase in its corporate value over the medium and long terms."
[Copyright The Jiji Press, Ltd.]