Auto Industry
Industry: Email Alert RSS FeedToyota buys 5% stake in Yamaha Motor Co.(Brief Article)
Automotive News, March, 2000 by TREECE, JAMES B.
TOKYO - Toyota Motor Corp. is pulling Yamaha Motor Co., maker of motorcycles and performance automobile engines, into its fold.
Toyota will buy a 5 percent stake in Yamaha Motor from Yamaha Corp., which owns 33.3 percent of Yamaha Motor. Toyota thus will become Yamaha Motor's second-largest shareholder, at a cost of about [yen]10.5 billion, or about $100 million at current exchange rates.
This investment and a similar investment in Toyota shares by the two Yamaha concerns aim to strengthen the companies' cooperation in three areas: the development and manufacture of vehicle engines, motorsports and marine engines.
Toyota President Fujio Cho called it ``a major milestone for us.''
Yamaha Motor and Toyota have a relationship that dates...
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