Toyota and DENSO to establish a joint venture
Toyota Motor Corp and auto-parts maker Denso Corp have agreed to set up a joint venture for research and advanced development of next-generation, in-vehicle semiconductors.
The two companies will study the details and aim to establish the new company in April 202
Stocks impacted: Toyota Motor Corporation (TYT), DENSO Corporation (6902)
Denso will own 51% of the new company, with Toyota holding the remainder. They aim to establish the company in April 2020 with a capitalization of $458,968 and about 500 employees. As a reminder, in June 2018, DENSO and Toyota agreed to consolidate the electronic components production and development functions to DENSO. Within this agreement, the two companies have been working to achieve a speedy and competitive production and development system. Stocks barely reacted to the news, with DENSO is 0.3% lower and Toyota sheds 0.1% in London.
Make profit on it right now!