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Toyota to make Daihatsu a wholly owned unit

Jan. 29, 2016 3:36 AM ETToyota Motor Corporation (TM) StockTM, DHTMF, DHTMY, HINOF, HINOYBy: Yoel Minkoff, SA News Editor
  • Toyota (NYSE:TM) has confirmed it will buy out the rest of Daihatsu (OTCPK:DHTMY) - a move that will help it better leverage the lower-cost brand - by swapping 0.26 of its own shares for each share of the minivehicle maker.
  • The world's largest automaker currently owns 51.2% of Daihatsu, which had the weakest sales performance in the Toyota group last year, lagging behind the Toyota, Lexus and truck maker Hino Motors (OTCPK:HINOY).
  • Previously: Toyota to decide on buying rest of Daihatsu (Jan. 28 2016)

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