Key Developments: Toyota Motor Corp (7203.T)

7203.T on Tokyo Stock Exchange

5 Feb 2016
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Latest Key Developments (Source: Significant Developments)

Toyota Motor Corp U.S. arm to pay up to $22 mil. over allegedly unfair car loans - KYDO
Tuesday, 2 Feb 2016 11:20pm EST 

Toyota Motor Corp:Financial unit of Toyota Motor has agreed to pay up to $21.9 million to compensate alleged discrimination against some ethnic groups taking out auto loans through car dealerships, the U.S. Justice Department said Tuesday. - KYDO.The allegation hit the top automaker of Japan after the department in July revealed a similar allegation of car-loan discrimination in the United States involving Honda Motor Co. that resulted in a $24 million compensation deal. - KYDO.Toyota Motor Credit Corp. said it "respectfully disagrees" with the department and the Consumer Financial Protection Bureau over determination on whether industry lending practices have been discriminatory but is committed to ensuring that consumers can count on fair auto loans. - KYDO.According to the department, Toyota Motor Credit charged thousands of African-Americans and Asian/Pacific islanders higher interest rates than non-Hispanic whites. - KYDO.The company charged such borrowers higher interests "because of their race or national origin and not because of the borrowers' creditworthiness or other objective criteria related to borrower risk," the department said. - KYDO.The auto loans to be covered by the compensation will be those taken out between January 2011 and last month, the department said.-KYDO.The Toyota unit forced African-Americans to pay over $200 more on average while the average Asian/Pacific islander borrower paid over $100 more, according to the department. - KYDO.  Full Article

Toyota Motor Corp Recalls Certain Land Cruiser, Tundra, Sequoia, GX Vehicles
Tuesday, 2 Feb 2016 05:03pm EST 

Toyota Motor Corp:Sales USA-conducting safety recall of about 320000 including model year 2003-2006 land cruiser;2004-2006 4runner;2005-2006 tundra,sequoia.Sales USA-safety recall also includes 2003-2006 lx 470; and 2004-2006 gx 470 vehicles.Sales USA-involved vehicles equipped with side curtain-shield-airbags which deploy from the roof in the event of certain types of crashes.  Full Article

Toyota Motor to fully acquire DAIHATSU MOTOR via stock swap
Friday, 29 Jan 2016 02:00am EST 

Toyota Motor Corp:Toyota Motor Corp to fully acquire DAIHATSU MOTOR CO LTD through stock swap, with effective on Aug. 1.One share of DAIHATSU MOTOR CO LTD's stock will be exchanged with 0.26 shares of Toyota Motor Corp's stock.54,035,654 shares of Toyota Motor Corp's stock will be exchanged.DAIHATSU MOTOR CO LTD's stock will delist from Tokyo Stock Exchange on July 27.  Full Article

Toyota Motor Corp Sales, USA says Lexus recalls certain 2016 RX 350 and RX 450h vehicles - Reuters
Wednesday, 27 Jan 2016 12:48pm EST 

Toyota Motor Corp:Says lexus recalls certain 2016 rx 350 and rx 450h vehicles - RTRS.says conducting a safety recall of approximately 5,000 model year 2016 lexus rx 350 and rx 450h vehicles.says involved vehicles are equipped with a driver's knee airbag module that may not have been properly manufactured.  Full Article

Toyota Motor Corp - Takata recalls air bag inflators in 5.1 mln US vehicles - Reuters - Update
Tuesday, 26 Jan 2016 07:06pm EST 

Toyota Motor Corp:U.S. auto safety regulators said Tuesday that air bag maker Takata Corp 7312.T declared 5.1 million U.S. vehicles defective, as the company disclosed an 11th death could be linked to a faulty airbag - RTRS.Most of the vehicles mentioned in numerous previous recalls involving Takata air bags have been older models, but the new recalls include some 2014 models. - RTRS.The Japanese company said newer vehicles remain under "investigation and could be subject to recall at a later date." - RTRS.The newly released documents show that regulators may prod automakers to recall recent models. - RTRS.The automakers involved in the new Takata inflator recalls include Honda, BMW AG, Volkswagen AG's Volkswagen and Audi brands, Daimler AG's Mercedes-Benz and Sprinter van brands, Mazda Motor Corp, and Saab AB - RTRS.Toyota Motor Corp 7203.T is listed by Takata as part of the new recall, but the company said all of its vehicles involved were recalled in 2015 - RTRS.NHTSA did not make clear how many, and which automakers were involved with recalls for 2014 models - RTRS.Honda has previously recalled about 6.28 million vehicles in the United States for air bag inflators, a Honda spokesman said. Honda worldwide has recalled vehicles with 23 million Takata air bag inflators since 2008 - not counting the latest recall - RTRS.  Full Article

R&I affirms Toyota Motor's rating at "AA+" and announces stable outlook
Friday, 15 Jan 2016 01:00am EST 

Toyota Motor Corp:Rating and Investment Information, Inc. (R&I) affirmed the company's rating at "AA+".Rating outlook stable.  Full Article

Toyota Motor Corp - India's top court upholds ban on sale of large diesel cars in Delhi - Reuters
Monday, 4 Jan 2016 05:43pm EST 

Toyota Motor Corp:India's top court on Tuesday upheld a temporary ban on the sale of large diesel cars in New Delhi to combat toxic smog in India's capital, but postponed hearing an industry appeal on an environmental tax that carmakers say will hit investment. - RTRS.Delhi's block on new diesel cars has unsettled the industry, its salesmen and investors, who warn the ban and uncertainty surrounding it could derail a tentative recovery in auto sales - RTRS.Green groups want to extend the ban to smaller diesel cars and other smog-choked cities in India - RTRS.The presiding Supreme Court judge said on Tuesday that the court was considering expanding the ban to diesel cars with engine capacity of less than 2,000 cc - currently not covered - but would first seek industry input on the matter - RTRS.The Supreme Court had also been expected to rule on Tuesday on a separate green tax on all diesel cars in the city, but has yet to announce its decision on that levy - RTRS.The decision on the tax, critical for automakers such as Mahindra & Mahindra, Tata Motors and Toyota Motor Corp that have invested heavily in making cars for diesel-loving Indian consumers, may now be heard next week - RTRS.India's automakers say they want a comprehensive plan - rather than court-led initiatives - to determine the regulatory structure - RTRS.  Full Article

Toyota Motor Corp to replace Takata airbag inflators previously deemed safe - Reuters
Tuesday, 24 Nov 2015 01:42pm EST 

Toyota Motor Corp:Toyota Motor Corp on Wednesday said it would replace Takata Corp airbag inflators in 1.6 million cars in Japan that had previously been recalled after concluding that they may still be unsafe - RTRS.In earlier inspections, automakers had checked the inflators using ammonium nitrate for air leaks and deemed some safe enough not to be replaced. But Toyota said in emailed comments that it would now replace all of those inflators - RTRS.The replacement parts will be made by Takata - RTRS.The recall affects around 20 domestic models produced between 2004 and 2008, including the Vitz compact. The initial recalls were conducted in May and June - RTRS.Information on how this may affect recalls outside Japan was not immediately available - RTRS.U.S. regulators have linked Takata inflators using ammonium nitrate, which can explode upon deployment and spray shrapnel, to eight deaths, triggering the recall of tens of millions of vehicles worldwide - RTRS.This month, Toyota, Nissan and other major car manufacturers said they would stop using ammonium nitrate inflators manufactured by Takata in new models. Takata says it has yet to determine the root cause of the defect - RTRS.The embattled airbag maker was fined $70 million by U.S. regulators, which also ordered the company to stop using the potentially dangerous propellant - RTRS.  Full Article

Toyota Motor Corp reissues recall for 1.6 mln cars in Japan over airbags - Reuters
Tuesday, 24 Nov 2015 10:45am EST 

Toyota Motor Corp:Toyota Motor Corp on Wednesday said it was reissuing a recall for around 1.6 million cars in Japan to check for possible faulty airbag inflators - RTRS.Toyota said it was asking owners of roughly 20 domestic models produced between 2004 and 2008, including the Vitz, to have their cars re-inspected for airbag defects, following an initial recall in May and June - RTRS.  Full Article

Toyota Motor to retire treasury shares
Thursday, 5 Nov 2015 01:00am EST 

Toyota Motor Corp:To retire 80 million shares (2.3 pct stake) of its common stock on Nov. 30.Says the total shares outstanding will be 3,385,097,492 shares after the retirement.  Full Article


Toyota lifts annual profit forecast as China business picks up

TOKYO Toyota Motor Corp raised its full-year net profit forecast on Friday due to improvements in its Chinese operations, while the Japanese automaker also lifted its sales forecast for the North American market, where demand has been booming.

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