Toyota group ups affiliate stake for defence-paper

Newswire

TOKYO, March 28 (Reuters) - An unlisted firm belonging to the Toyota group has increased its stake in Toyota Industries Corp. , an affiliate of Toyota Motor Corp. , to defend the group against hostile takeovers, the Nihon Keizai newspaper said on Tuesday. Toyota Industries' shares rose by 3.2 percent to 4,790 yen in heavy morning trade, bucking the main Nikkei average's 0.57 percent fall. Toyota Industries, the 80-year-old textile-machinery maker from which Toyota Motor was spun off, was ...

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