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30 08 2019 03b

Toyota Motor Corporation and Suzuki Motor Corporation entered into a capital alliance agreement to establish and promote a long-term partnership between the two companies for promoting collaboration in new fields, including the field of autonomous driving.

Toyota plans to acquire 24,000,000 shares of common stock in Suzuki (4.94% ownership of the total number of shares issued by Suzuki as of 31 March 2019 (excluding treasury shares) with a total value of JPY 96 billion, or US$905 million) by underwriting the disposition of treasury shares by way of third-party allotment conducted by Suzuki.

Likewise, Suzuki plans to acquire, through purchase in the market, shares in Toyota equivalent to JPY 48 billion (US$453 million). These share acquisitions will be implemented after the companies obtain approvals from the foreign competition authorities.

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