TOKYO (Reuters) - Toyota Motor Corp (7203.T) on Friday announced plans to raise its stake in Subaru Corp (7270.T) to more than 20% as Japan’s biggest automaker cements ties with its smaller rival to better compete with overseas automakers to develop new technologies.
Toyota’s stakeholding in Subaru is the biggest of its investments in other Japanese automakers, and is the latest in a long history of stakeholdings which date back more than half a century:
Toyota takes an 8.7% stake in Fuji Heavy Industries (FHI), currently known as Subaru, after General Motors Co (GM.N) sells its stake in FHI when the two automakers dissolve their strategic alliance and capital relationship.
Toyota increases its stake in FHI to 16.5%. The two companies also decide to cooperate in research and development, developing a rear-wheel drive sports car, which becomes known as the Toyota 86 and the Subaru BRX. They also decide that Subaru will stop producing mini-cars for the Japanese market, and instead procure them from Toyota subsidiary Daihatsu.
Toyota takes a 5% stake in Mazda Motor Corp (7261.T) as the two companies announce they will work together on developing electric vehicles and build an assembly plant in the United States. Mazda takes a 0.25% stake in Toyota.
Suzuki Motor Corp (7269.T) and Toyota announce they will explore a business partnership to leverage each others’ strengths to develop new vehicle technologies. Since then, they have announced they would produce EVs and compact cars for each other.
Toyota takes a 4.94% stake in Suzuki. Suzuki takes a 0.2% stake in Toyota.
Mini-car maker Daihatsu Motor Co joins the Toyota group, supplying the company with compact cars.
Toyota increases its stake in Daihatsu to 51% from 34.5%, and the company becomes a subsidiary of Toyota.
Daihatsu becomes a wholly owned subsidiary of Toyota
Truckmaker Hino Motors begins a business partnership with Toyota and enters the Toyota group.
Toyota raises its stake in Hino to 33.8% from 20.1%, enabling the struggling truckmaker to shore up its weak finances and effectively giving Toyota managerial control of the company.
Toyota raises its stake in Hino to 50.1%, making it a subsidiary.
Toyota buys 5% stake in Yamaha Motor Co (7272.T), while Yamaha Corp (7951.T) and Yamaha Motor take stakes in Toyota. Previously, the two automakers had co-developed the Toyota 2000GT sports car, which was launched in 1967.
Toyota acquires around a 3% stake in Tesla Inc (TSLA.O) as the automakers partner up to develop electric cars and develop production systems.
Toyota begins selling down its stake in Tesla as the two companies end their collaboration. It says it had completed its sale as of the end of 2016.
Reporting by Naomi Tajitsu; editing by Christian Schmollinger