Tokyo, Oct 23, 2009 - (JCN Newswire) - TOYOTA MOTOR CORPORATION (TMC) and TOYOTA HOUSING CORPORATION (THC) announce the complete integration of Toyota's housing operations under THC, effective Oct. 1, 2010. The move is aimed at achieving quick decision-making and flexibility, as trends toward a low-carbon society, falling birthrates and an aging population change Japan's housing market.
Specifically, TMC's business-planning, technology-development and production operations for Toyota-brand houses, which are only sold in Japan, will integrate with THC's product-development, sales, marketing and construction operations for such houses.
THC, which was established in 2003 and which sold more than 5,000 detached houses in the business year ending March 31, 2007, intends to draw on the strengths of Toyota to offer houses unlike any others in terms of the environment, health, safety and security. It also intends to develop its housing operations into a core business of the Toyota Group and to achieve a larger presence in Japan's housing industry.
Outline of integration
Date October 1, 2010
Capitalization of THC Undecided
Number of THC employees Unconsolidated: approx. 700;
consolidated: approx. 2,200
Assets to be transferred from TMC to THC (value to be decided):
1) Fixed assets related to housing operations (Kasugai Housing Works, Tochigi Housing Works, Yamanashi Housing Works, Sakae Office)
2) Shares in housing-related subsidiaries and related companies
About Toyota
Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. Today, the Company manufactures vehicles and parts at 53 production sites in 27 countries and regions around the globe and is an active member in the communities it serves. In fiscal 2009, ended March 31, 2009, the Toyota Group sold approximately 7.56 million vehicles in 170 countries and regions under the Toyota, Lexus, Daihatsu, and Hino brands. For more information, please visit www.toyota.co.jp/en/index.html.
Contact:
Toyota Motor Corporation
Corporate Communications Department/
Public Affairs Division
Tel: +81-3-3817-9150
URL: http://www.toyota.co.jp/en
Oct 23, 2009
Source: Toyota
Toyota (TSE: 7203) (U.S: TM)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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