Toyota enters business and capital alliance with Subaru to strengthen long-term partnership

Two Japanese automakers also agreed to jointly develop AWD models and the next-generation Toyota 86 and Subaru BRZ

Toyota and Subaru have reached new business and capital alliance to further strengthen their long-term partnership, the two Japan-based automakers said in a joint press release today (27 September). At part of the agreement, Toyota will raise its stake in Subaru to 20% from 16.83% currently, through buying an additional 24.3 million shares. Subaru will also buy shares worth up to JPY80 billion (USD741 million) in Toyota. Following the share transaction, Subaru will become an affiliate company of Toyota. The acquisition of shares will be completed after the necessary approval is obtained from the competition authorities.