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Toyota and Yamaha Motor strengthen their business tie-up, and Toyota and Yamaha group shall tie up with investment

March. 06, 2000

Toyota (President: Fujio Cho) and Yamaha Motor (President: Takehiko Hasegawa) today agreed to strengthen their business tie-up in connection with three business areas:1. manufacture and development of engines for vehicles, 2. motor sports business and 3. marine business.

After Toyota and Yamaha Motor co-developed the "TOYOTA 2000GT" * which was initially sold in 1967, they have been closely co-operating in many business areas, including development and manufacture of high-performance engines and other apparatus.

We desire to increase our co-operation and develop our business much more through the business tie-up, while maintaining the independence of each operation.

We intend to examine the specific content in each business area of our business tie-up.

In Addition to the above business tie-up, Toyota, Yamaha Corporation (President: Kazukiyo Ishimura) and Yamaha Motor agree to cooperate with investment.
Toyota shall acquire 12,500,000 shares, 5% of the aggregate number of the outstanding shares (after the adjustment of potentially dilutive securities), of Yamaha Motor from Yamaha. Thereafter, Toyota will be the second-largest shareholder of Yamaha Motor. Each of Yamaha and Yamaha Motor shall acquire 500,000 shares of Toyota from the secondary market, respectively.
Thereafter, the Yamaha group will hold 1,000,000 shares of Toyota, in total.

 

*TOYOTA 2000GT was initially sold in May 1967 and the genuine grand touring car, which Toyota manufactured for the first time, with maximum speed of 220km/h. The engine "Type 3M" (DOHC 1988cc, 150h.p.), which was equipped in such car, was developed with the cooperation of Toyota and Yamaha Motor, and manufactured by Yamaha Motor.



Toyota Motor Corporation

 

Address

471-8571 Toyota-cho 1, Toyota City, Aichi Pref.

Establishment

August 1937

President

Fujio Cho

Net sales

7,525.5 billion yen

Operating income

543.8 billion yen

Capital

397 billion yen

No. of outstanding shares

3,760,650,000

No. of employees

67,912

Business

The manufacture, sale, leasing and repair of motor vehicles, industrial vehicles, ships, aircraft, other transportation machinery and apparatus, space machinery and apparatus, and parts thereof.



Yamaha Corporation

 

Address

430-8650, Nakazawa-cho 10-1, Hamamatsu City, Shizuoka Pref.

Establishment

October 1897

President

Kazukiyo Ishimura

Net sales

391.9 billion yen

Operating income

12.2 billion yen

Capital

28.5 billion yen

No. of outstanding shares

206,523,000

No. of employees

8,049

Business

he manufacture and sale of pianos, electronic musical instruments, wind, string and percussion instruments, audio, telecommunications equipment, electronic devices, golf clubs, etc.



Yamaha Motor Co., Ltd.

 

Address

438-8501 Shingai 2500, Iwata City, Shizuoka Pref.

Establishment

July 1955

President

Takehiko Hasegawa

Net sales

581.2 billion yen

Operating income

23.0 billion yen

Capital

23.1 billion yen

No. of outstanding shares

231,028,000

No. of employees

8,486

Business

The manufacture and sale of motorcycles, marine products, power products, transport machines and tools such as engines for motor vehicles, industrial robots, etc. and other business incidental thereto.


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