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TOKYO, Sept 30, 2015 - (JCN Newswire) - Aisin Seiki Co., Ltd., its subsidiary, Aisin AI Co., Ltd., and Toyota Motor Corporation have made a further agreement regarding the consolidation of the development and production of manual transmissions under Aisin AI, which was agreed in principle in November last year.
This agreement builds on the previous agreement, the aim of which was to strengthen the competitiveness of Aisin AI and Toyota by bringing the development and Japanese production of manual transmissions under one roof and allowing more efficient allocation of resources. More specifically, the development of manual transmissions for mass-produced vehicles will be consolidated at Aisin AI by the end of 2016. Toyota's manual transmissions production functions in Japan will be transferred to Aisin AI's plant in Japan around February 2016.
Outside Japan, Aisin Seiki plans to acquire a stake in Toyota Autoparts Philippines Inc. (in January 2016) and Toyota Kirloskar Auto Parts Private Ltd. (in July 2016). The ratio of its equity participation, which is expected to be between 25 percent and 34 percent, will be finalized after further discussion among the related parties.
By independently developing manual transmissions for mass-produced vehicles and enhancing global production and supply capabilities in Asia and beyond, Aisin AI and Aisin Seiki aim to achieve further growth to become a world-class specialist transmissions manufacturer. Toyota, on the other hand, will focus more resources on the development of next-generation transmissions and related aspects of vehicle performance. This agreement further underlines Toyota's commitment to developing ever-better cars.
Contact:
Toyota Motor Corporation
Public Affairs Division
Global Communications Department
Tel: +81-3-3817-9926
Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
https://www.acnnewswire.com
From the Asia Corporate News Network
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