
Toyota now owns 16.16 percent of Fuji Heavy Industries Ltd., which owns Subaru
Fuji Heavy Industries Ltd., which owns Subaru, has announced the sale of Subaru’s 61 million treasury stocks to Toyota Motor Corp., for US$291.1 million. The move is aimed at enhancing the capital and business partnership between the two companies and the deal will increase Toyota's voting rights in Fuji Heavy from 9.5 to 16.16 percent.
Toyota, which bought its existing stake in Fuji Heavy from GM in 2005, wants greater tangible synergies with Subaru, which is why it has decided to pump in more money in buying a bigger stake in the company.
Fuji Heavy currently makes the Camry for Toyota at its US plant, and sells the Justy compact car in Europe under an OEM contract with Daihatsu, another Toyota company that makes small cars. Now, with Toyota owning a bigger chunk of Fuji Heavy, the two companies will jointly develop and market compact sports cars using Subaru’s famous ‘boxer’ engines. The first of these is likely to be launched by the end of 2011.










