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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toyota Motor Corporation    7203   JP3633400001

TOYOTA MOTOR CORPORATION

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Toyota Motor : Agreement on New Business and Capital Alliance between Toyota Motor Corporation and KDDI Corporation

11/02/2020 | 04:41am EST

* Strengthening the Alliance for a Society in which Towns, Homes, People, and Cars Are All Connected

Toyota Motor Corporation (Head Office: Toyota City, Aichi Prefecture; President: Akio Toyoda; hereinafter, "Toyota") and KDDI Corporation (Head Office: Chiyoda-ku, Tokyo; President: Makoto Takahashi; hereinafter, "KDDI") have agreed on a new business and capital alliance today with the purpose of further strengthening the relationship between the two companies. Details of the agreement are as follows;

Background

Since KDDI's founding in October 2000 through the merger of Daini Denden Inc. (DDI), KDD Corporation, and IDO Corporation, Toyota has been KDDI's second largest shareholder (with 12.95% of shares held as of September 2020). Since 2002, Toyota and KDDI have cooperated on G-BOOK and other services for the telematics business of Toyota. In addition, prompted by the increase in internet-connected vehicles-connected cars-the two companies have been working together since 2016 to build a global communications platform, independent of existing roaming services, to ensure stable high-quality telecommunications around the globe between vehicle communications devices and cloud services. In this and other ways, the companies have been accelerating initiatives to provide safety and comfort through the integration of vehicles and telecommunications.

Details of the Business Alliance

The companies are also accelerating new initiatives that go beyond the borders of their core business of mobility and telecommunications in anticipation of the coming future society in which towns, homes, people and cars are all connected.

The companies will continue working to develop services that enrich people's lives to solve social issues mainly through the use of big data and to promote R&D in the areas of telecommunications and connected car technologies.

Specifically, the companies will continue promoting the following initiatives;

The Two Companies' Initiatives Going Forward

Jointly conducting R&D focused on telecommunication platforms that enable optimal communications between towns, homes, people and cars as communication technologies evolve, including 4G, 5G, and 6G

Jointly developing an operations and management system for next-generation connected cars to enable sophisticated operations by integrated management of devices, networks, platforms, and services

Jointly developing services and service platforms that aim to enrich people's lives and ensure their safety and security not only inside or outside of vehicles but also in every scenes

Jointly working to address social issues arising between urban and rural areas and regional communities using big data about towns, homes, people, cars, and more

Details of the Capital Alliance

Against the backdrop of the aforementioned business alliance, both companies reached the conclusion that it will be necessary to further strengthen their capital ties to promote their strategic alliance over the medium and long terms. The companies agreed to the disposal of 18,301,600 shares of KDDI treasury stock*1 (totaling around 52.2 billion yen) through a third-party allocation with Toyota as the recipient. Therefore, Toyota is expected to hold 13.74% of KDDI's shares. The share acquisition date (payment deadline) is scheduled for January 29, 2021.

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
KDDI CORPORATION 0.91% 3212 End-of-day quote.4.76%
TOYOTA MOTOR CORPORATION 0.75% 7744 End-of-day quote.-2.68%
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Financials
Sales 2021 26 040 B 252 B 252 B
Net income 2021 1 523 B 14 714 M 14 714 M
Net Debt 2021 15 002 B 145 B 145 B
P/E ratio 2021 14,5x
Yield 2021 2,89%
Capitalization 21 652 B 209 B 209 B
EV / Sales 2021 1,41x
EV / Sales 2022 1,26x
Nbr of Employees 359 542
Free-Float 62,2%
Chart TOYOTA MOTOR CORPORATION
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Toyota Motor Corporation Technical Analysis Chart | 7203 | JP3633400001 | MarketScreener
Technical analysis trends TOYOTA MOTOR CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 8 122,22 JPY
Last Close Price 7 744,00 JPY
Spread / Highest target 24,0%
Spread / Average Target 4,88%
Spread / Lowest Target -27,7%
EPS Revisions
Managers and Directors
NameTitle
Akio Toyoda President, CEO & Representative Director
Takeshi Uchiyamada Chairman
Kenta Kon Chief Financial Officer
Seiji Sakai Manager-Information Systems & IT Management
Masahito Maeda Chief Technology Officer
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