Toyota says to make Central Motor wholly owned unit

Newswire

TOKYO, July 28 (Reuters) - Toyota Motor Corp said on Monday it would more than double its stake in unlisted Central Motor Co to make it a wholly owned subsidiary through a share exchange in October. Toyota, the world's biggest automaker, now owns 48 percent of Central Motor, which has four factories in Japan to assemble Toyota cars including the Corolla and the Yaris. Two other Toyota affiliates, Kanto Auto Works Ltd and Toyota Auto Body Co , own 20 percent and 9 percent, respectively. ...

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