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.
Emerging reports indicate that Toyota is preparing to nearly double its stake in Subaru's parent company, Fuji Heavy Industries. Toyota initially bought into Fuji when that other automotive giant, General Motors, sold its 8.7% stake to its Japanese rival. The new share-grab, the door to which was opened by revised Japanese laws, would bring Toyota's partial ownership of Fuji up to 17%, just short of double its current stake.
Since Toyota's buy-in of Fuji, cooperation between the two companies has only increased, ranging from new product development to manufacturing. Insiders predict that with the increased stake will come even more integrated collaboration between the two Japanese automakers, which, considering Toyota's enormous success worldwide, can only mean good things for Subaru's operations.
Meanwhile, it's worth noting that with Toyota reportedly considering following Honda into the sky, Fuji's other core business in aerospace could prove an invaluable asset.
Now that its ground offensive has taken control of the battlefield, word comes that Toyota's field commanders might have an eye toward the skies. That's right: Toyota is reportedly considering an offer from Mitsubishi Heavy Industries to get into the aircraft business. MHI would like to see Toyota invest in a new passenger jet project, which, if it goes forward, would set up an aerial dogfight with the HondaJet, which is already in the segment. Mitsubishi already produces its own plane, the Regional Jet. Is this the beginning of a new battle for air supremacy? Hmmm. Somebody cue the Kenny Loggins.
