|Thursday, 21 December 2017, 12:11 HKT/SGT|
|Aiming to integrate three companies operating in parts and accessories to strengthen business globally|
Toyota City, Japan, Dec 21, 2017 - (JCN Newswire) - Toyota Motor Corporation announces its decision to merge subsidiaries Toyota Technocraft Co., Ltd., J-TACS Corporation, and Toyota Modellista International Corporation to establish a new company on April 1, 2018.
Toyota believes that it is important to provide services that meet customers' increasingly diversified needs, as demands on car manufacturers also increase, not only for creating vehicles, but also in the field of customization.
The three aforementioned companies operate in overlapping fields and have thus far cooperated with each other to help Toyota expand its business. However, amidst intensifying global competition, the new company, as a core company of the conversion and accessories business for the Toyota Group, is required in order to make further improvements in all areas, including planning, development, production, and sales, and to expand business globally by providing attractive products.
This integration will bring together the expertise of the three companies and leverage their management resources comprehensively and efficiently to respond to customer needs through the development of product diversification, utilizing the agility of the conversion and accessories business. Furthermore, Toyota believes that strengthening the development support system that supports its motor sport activities can contribute to Toyota's aim of making ever-better cars.
Specific initiatives of the new company include:
1. Further strengthening product development capability and cost competitiveness in the conversion and accessories field, in response to diversifying customer needs
2. Expanding and strengthening the conversion and accessories business globally
3. Strengthening the support structure for motor sports and providing attractive parts
4. Improving efficiency in all divisions including planning, development, production, sales, and administration
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.
Toyota Motor Corporation
Public Affairs Division
Global Communications Department
Dec 21, 2017 12:11 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.