Toyota is raising its stake its Hino Motors unit to help pump up commercial vehicle sales in the face of increasing worldwide competition.
According to published reports from Asia, Toyota will raise its stake in Hino to 50.1 percent from 36.6 percent.
Hino officials say they will use the funds from the transaction to increase production of trucks and buses overseas, especially in Southeast Asia. Exports to South Asia have fallen by half from their peak in 1990.
The company also plans to boost its share of Japan's domestic market with 2-ton light trucks.
Toyot President Fujio Cho, when asked about possible alliances with overseas firms, responded, "as the world truck market is undergoing reorganization, we are open to alliances with overseas makers, but at the present time there is no such project."
According to published reports from Asia, Toyota will raise its stake in Hino to 50.1 percent from 36.6 percent.
Hino officials say they will use the funds from the transaction to increase production of trucks and buses overseas, especially in Southeast Asia. Exports to South Asia have fallen by half from their peak in 1990.
The company also plans to boost its share of Japan's domestic market with 2-ton light trucks.
Toyot President Fujio Cho, when asked about possible alliances with overseas firms, responded, "as the world truck market is undergoing reorganization, we are open to alliances with overseas makers, but at the present time there is no such project."
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