Toyota Llfts stake in construction machinery maker Takeuchi
Posted on: Thu, 16 Apr 2009 01:10:00 EDT
TYHOF | Quote | Chart | News | PowerRating -- TOYOTA TSUSHO CORP.
(TSE:8015) on Wednesday announced plans to purchase 620 million
yen (US$6.24 million) of new shares in TAKEUCHI MFG. CO.
(TSE:6432) as part of a move to expand capital and business
ties with the construction machinery maker. The private
placement on April 30 will push up the TOYOTA MOTOR CORP.
(TSE:7203) group trading company's stake in Takeuchi to 6.99
per cent from 0.78 per cent, making it the second-biggest
shareholder.
* Toyota Tsusho currently only handles Takeuchi's products
in Japan.
* It aims to leverage the strengthened ties with Takeuchi to
boost emerging market sales of mini power shovels used for
housing construction.
For full details on Toyota Motor Corporation ADS (TM) TM. Toyota Motor Corporation ADS (TM) has Short Term PowerRatings at TradingMarkets. Details on Toyota Motor Corporation ADS (TM) Short Term PowerRatings is available at This Link.
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