Toyota Motor Corporation ¥371.9 billion acquisition of Daihatsu Motor Corporation

Overview:

• Toyota Motor Corporation has acquired the remaining stake it did not already own in Daihatsu Motor Corporation for ¥371.9 billion.
• The deal was completed via a share exchange which will see Toyota swap 0.26 of its own shares for each Daihatsu share.
• Daihatsu will become a subsidiary of Toyota.
• Toyota already owned 51% of Daihatsu before the deal.
• The move will strengthen Toyota's share of the small vehicle market in emerging markets.

Sam Duke - Editor