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Toyota buys another chunk of FHI, Subaru
Back in April, Toyota announced that it would be gobbling up a larger percentage of Fuji Heavy Industries, makers of the Subaru brand of vehicles. Today, that deal has been made official as Fuji announced the sale that increases Toyota's voting rights in the automaker to 16.16 percent from 9.50 percent. This deal had been made possible by a newly revised Japanese law that went into effect last year. Toyota had initially purchased about nine-percent share of the company from General Motors, which no longer owns any part of Fuji Heavy. According to reports, Toyota paid about a ten-percent premium for the increased share, as well. Its total outlay of cash for the new shares is 31.11 billion yen ($291.1 million), for which it receives 61 million additional treasury stocks. Here's hoping that this new deal ushers in the upcoming new AE86 all the more quickly.
[Source: Thomson Financial News via Straightline]
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Reader Comments (Page 1 of 1)
tanooki2003 4:44PM (6/27/2008)
Well at least Toyota can make better do with Subaru than what GM poorly handled.
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joe 4:55PM (6/27/2008)
i'm not a business guy, but it looks like to me they are trying to do what porsche is trying to do to vw, and eventually merge with them. am i wrong?
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Soul Shinobi 11:23PM (6/27/2008)
No, it's not the same, but I'm glad your brought it up. Porsche is looking for a takeover, maybe even a hostile takeover. There are serious concerns that Porsche wants to manipulate the market by marginalizing competing Audi products.
Toyota's interest in Subaru's parent company is in the interests of cooperative joint R&D, Toyota wants to reincarnate the AE86 by funding Subaru to do it. Also, Toyota may be interested in Fuji Heavy Industries aeronautics division for they can compete with Honda's jet engines. Toyota isn't primarily looking for control, just a mutually beneficial relationship. Although, I am worried they may be a bit controlling, but at least Toyota's intentions are are good, they want to keep Subaru profitable.
Ben 5:12PM (6/27/2008)
Thats awesome! Just what we need more Toyota inspired garbage! Take a look at the Subaru Corolla mean WRX sedan. Im waiting for the day when Toyota waters down Subaru so much that AWD will not even be an option.
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djSyndrome 5:41PM (6/27/2008)
The Impreza/WRX was signed off on long before Toyota entered the picture. And the first lovechild of the two is going to be the Impreza Coupe/Celica, which although we won't see the Toyota version in the U.S., looks to be far more interesting than anything Toyota's been able to manage on their own for at least a decade.
Bryan 8:09PM (6/27/2008)
It's not what toyota hasn't been able to manage to do, its what Toyota knows will sell. Call the Corolla or Camry boring, but they sell A LOT more. Infact domestics wish they could sell cars like Toyota. Toyota is known for not over doing it, or under doing it. You can't blame them for doing what sells cars. And looking at their profit each year, they sure know what they're doing.
REALITYCHECK 5:43PM (6/27/2008)
Now all of you anti Ford and GM folk take note of this law that Japan and Germany has, this is what has made their auto makers so strong and ours so week!. If any of these companies have a bad quarter and don't pay a dividend then they don't have to worry about someone buying them. This is the law we need and fast........
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tankd0g 5:47PM (6/27/2008)
Little late now, all the "little" auto makers already belong to the big three sinking ships.
ken_aisin 1:59AM (6/28/2008)
I hope Toyota would improve Subaru's reliability.
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IowaSuby 9:47AM (6/28/2008)
I hope you are joking??
Take a look at major Toyota recalls vs. Subaru recalls, then take a look at initial quality and overall quality of Subaru from any reputable site. You'll see that Subaru and Honda are at the top.
You are probably referring to issues with 90's outbacks and engines and um...stop living in the past, those issues were fixed a decade ago.
Blair 12:58PM (6/28/2008)
What are you talking about? Subaru reliability is top notch... Subaru drivers tend to push there cars more then todays Toyota drivers, a bit of Subaru's rally spirt gets into them and of course your going to have more problems long term then the new age eco friendly cars (except for the fact that the Prius isn't eco friendly at all because of all the work it takes to make the battery and probably smarter to buy a corolla).
Bryan 2:59PM (6/28/2008)
haha....typical toyota bashing
IowaSuby 8:40PM (6/28/2008)
I'm not bashing Toyota, they make great, reliable cars.
Subaru makes more reliable cars overall though. You can't go wrong buying either brand IMO.
Paul 11:30PM (6/29/2008)
I've owned quite a few Subaru's over the past ten years. I believe that I'm done purchasing them now due to Toyota's increased % and what I would forsee as an eventual purchase/takeover!
GM here I come...
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