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Toyota Tsusho Takes Stake in Astra, Indonesia's Largest Auto Parts Manufacturer
 

Tokyo, May 30, 2013 (JCN) - Toyota Tsusho Corporation (TTC) will purchase 4.9% of shares in PT Astra Otoparts Tbk (AOP) from its parent company, PT Astra International Tbk or AI. TTC acquires the shares in AOP through book-building bid which was implemented by AI.

The amount of shares that TTC acquires will be 886 billion Indonesian rupiah, or 9.3 billion Japanese yen.

In Indonesian automotive industries, TTC has developed wide range of businesses and services through providing supply chain services such as procurement, processing and logistics of material and component parts.

TTC also provides Techno-Park services where TTC provides the factory leasing, administrative services such as HR and accountings and various supports and advisories with Japanese auto-parts suppliers.

AI and AOP have been@valuable and important partners of TTC's in Indonesia for more than four decades through joint ventures with Japanese auto-parts manufacturers.

AOP is the largest auto-component manufacturer in Indonesia, manufacturing and selling various ranges of products including forged parts, castings, plastic moldings, tires, after-market part and so on.

AOP has supplied its products not only to Japanese OEM auto-manufactures in Indonesia but also to wholesale and retail markets through its sales network.

TTC will further strengthen the partnership with AOP, and will put more emphasis on automotive businesses in Indonesia. Besides, TTC intends to enhance the business relationship also with AI in the areas other than automotive.


By Chris Lui Staff Writer

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