Key Developments: Toyota Motor Corp (TM)
129.19USD
21 May 2013
$0.54 (+0.42%)
$127.32
$129.69
$129.98
$129.13
185,328
633,898
$129.98
$72.04
Latest Key Developments (Source: Significant Developments)
Toyota Motor Corp Announces Mid-term Dividend Payment for FY 2013
Toyota Motor Corp announced that it has decided to pay a JPY 30 per share(JPY 95,004 million in total) mid-term dividend, from its latest dividend forecast of an undetermined value, to all the shareholders as a record of September 30, 2012. The dividend will be paid on November 27, 2012. Full Article
Japan Fund And Firms Including Toyota Motor Corp Aim To Acquire Renesas Electronics Corp For $2.6 Billion-Reuters
Reuters reported that a Japan government fund is expected to partner with about 10 companies in hopes of buying Renesas Electronics Corp in a 200 billion yen ($2.55 billion) deal, the Nikkei business daily said. The taxpayer-funded Innovation Network Corp plans to invest 150 billion yen to acquire two-thirds of Renesas' shares on a voting rights basis, the Japanese newspaper said on Saturday. A consortium of Japanese companies including Canon Inc., Denso Corporation, Honda Motor Co., Ltd., Nikon Corporation, Nissan Motor Co., Ltd., Panasonic Corporation, Toyota Motor Corp and Yaskawa Electric Corporation, are also expected to invest a total of nearly 50 billion yen, the Nikkei said. German industrial group Robert Bosch GmbH is also considering an investment in the chipmaker, the Nikkei added. Full Article
Toyota Motor Corp Reduces Lexus Vehicle Exports To China-DJ
Dow Jones reported that Toyota Motor Corp is reducing exports of its Lexus upscale cars to China from Japan to respond to slumping demand for Japanese brand vehicles. The company is slashing exports, while it also lowered production in China to meet dropping sales. Full Article
Toyota Motor Corp Recalls 7.4 Million Vehicles Over Window Switch-Reuters
Reuters reported that Toyota Motor Corp would recall more than 7.4 million vehicles worldwide for faulty power window switches that are a potential fire hazard. Full Article
Toyota Motor Corp's Toyota Kirloskar Motor Recalls 8,700 Cars For Inspection- Business Standard
Business Standard reported that Toyota Motor Corp's Indian subsidiary Toyota Kirloskar Motor (TKM) has voluntarily announced recall of Corolla Altis (made between July 30, 2008 and December 31, 2008) and Camry (made between September 1, 2006 and July 31, 2008). TKM will recall about 8,700 vehicles in India to inspect the Power Window Master Switch (PWMS). TKM will conduct this campaign on a voluntary basis. It has appealed to customers not to panic as this is not a safety hazard but only a precautionary measure, voluntarily carried out by the company, Toyota said in a statement. Full Article
Toyota Motor Corp To Expand India Capacity-WSJ
The WallStreet Journal reported that Toyota Motor Corp said it will invest $164 million to boost production capacity by 50% at two factories in India at a time its local sales are growing faster than many competitor's. Toyota Motor Corp plans, within six months, to increase output capacity to 310,000 vehicles a year at the two factories outside Bangalore. The majority of the new capacity will be dedicated toward the Etios, a range of hatchbacks and sedans, and the Innova, a multi-purpose vehicle. Full Article
Toyota Motor Corp Recalls 160,784 RAV4s In China-Reuters
Reuters reported that Toyota Motor Corp is recalling 160,784 RAV4 sport-utility vehicles in China to fix problems in their rear suspension. The recall covers 13,474 imported RAV4 models made from July 21, 2005 to November 28, 2008 and 147,310 RAV4 models made at Toyota’s joint venture with FAW Group from February 6, 2009 to October 31, 2010, China's General Administration of Quality Supervision, Inspection and Quarantine said on its website over the weekend. Full Article
Toyota Motor Corp Recalls 760,000 RAV4s In U.S.-Reuters
Reuters reported that Toyota Motor Corp said on Wednesday it is recalling about 760,000 Toyota RAV4 utility vehicles and 18,000 Lexus HS 250h hybrid vehicles in the United States to correct a defect in rear suspension. The RAV4 cars were made from model years 2006, through 2011, while only 2010 models of the HS 250h were affected. Toyota said it had not yet developed a fix for the problem, which it said involves rust formation that could lead to wear and eventual separation of the rear suspension arms. Toyota said it will notify owners when a solution is available. The U.S. National Highway Traffic Safety Administration, in a defect investigation opened June 4 into a similar problem with 2006-2008 Toyota RAV4s, said the rear suspension arm assembly "may fail due to corrosion, potentially causing a loss of vehicle control." The federal agency said at the time it was probing about 460,000 RAV4s. NHTSA said it had received seven complaints alleging corrosion-related failure of suspension arms on the RAV4. Full Article
Toyota Motor Corp Plans To Shift Some Lexus RX SUV Output To Canada From Japan-DJ
Dow Jones reported that Toyota Motor Corp plans to shift part of its production of a luxury Lexus sport utility vehicle from a factory in southwestern Japan to a plant in Canada. Toyota Motor Corp plans to increase output of the RX SUV at its Canadian plant in 2014, and the production shift could total up to 30,000 units per year. Transferring production overseas from its subsidiary plant in Fukuoka Prefecture is expected to help Toyota cope with the impact of yen. Toyota Motor Corp which made about 70,000 RX models at its Japanese plant last year, may implement the shift as soon as 2014. Full Article
Peugeot SA (PSA Peugeot Citroen) And Toyota Motor Corporation's Toyota Motor Europe NV/SA Announce New Cooperation On Light Commercial Vehicles in Europe
Peugeot SA (PSA Peugeot Citroen) and Toyota Motor Europe NV/SA announced a new agreement on light commercial vehicles for the European market. Under the plan, PSA Peugeot Citroën is to supply Toyota with light commercial vehicles for sale in Europe under the Toyota brand. As a first step, starting in the second quarter of 2013, PSA Peugeot Citroën will supply Medium Size Vans derived from its existing vehicles Peugeot Expert and Citroën Jumpy. The agreement also includes collaboration on next generation vehicles which are to be produced by PSA Peugeot Citroën. The collaboration is expected to last beyond 2020. Under the plan, Toyota Motor Europe is to participate in the development and industrial investment costs for the next generation product. There are no plans for the two companies to enter into capital tie-ups or joint production. Full Article
Toyota plans to increase lithium-ion car battery output-Nikkei
TOKYO, May 19 - Toyota Motor Corp is planning to increase production of lithium-ion batteries by six times, as the automaker prepares to eventually use them in its flagship Prius gasoline-electric hybrid cars, the Nikkei business daily reported on Sunday.
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