Toyota Announces Daihatsu Buyout

Toyota announces Daihatsu buy out
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Tokyo, Japan – Toyota Motor Corp President Akio Toyoda, left, and Daihatsu Motor Co. President Masanori Mitsui, right, attend a press conference in Tokyo on January 29, 2016. Toyota Motor Corp announced that it would buy out the rest of minicar maker Daihatsu Motor Co. The world’s largest automaker owns 51.2 percent of Daihatsu, which had the weakest sales performance in the Toyota group last year. Daihatsu who specializes in 660 cc vehicles competes with Suzuki Motor Corp in Japan, where both automakers each hold about 30 percent of the minicar market. (Photo by Yusuke Nakanishi/AFLO)

Toyota announces Daihatsu buy out
(Click on the image above to view the full gallery)

Tokyo, Japan – Toyota Motor Corp President Akio Toyoda, left, and Daihatsu Motor Co. President Masanori Mitsui, right, shake hands during a press conference in Tokyo on January 29, 2016. Minicar sales in Japan have been declining due to aging society and lack of interest for car ownership among younger generation. The announcement comes days after Toyota denied reports of possible tie-up with Suzuki. (Photo by Yusuke Nakanishi/AFLO)