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MarketScreener Homepage  >  Equities  >  Tokyo  >  Toyota Motor Corporation    7203   JP3633400001

TOYOTA MOTOR CORPORATION

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Toyota Motor : , Denso to launch semiconductor venture for future technology

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12/10/2019 | 01:03am EST

Toyota Motor Corp. and its auto parts maker Denso Corp. said Tuesday they will set up a joint venture next April to develop semiconductors for next-generation technologies to be used in autonomous and electric vehicles.

The new company Mirise Technologies will conduct research and advanced development of in-vehicle semiconductors, which are believed to "play a key role in technology innovation for electric vehicles and automated driving vehicles," the two companies said in a statement.

The venture, planned to be headquartered in central Japan's Aichi Prefecture with about 500 employees, will seek cooperation with universities, research institutes and startups while recruiting semiconductor engineers, they said.

The new company will be capitalized at 50 million yen ($460,000), with Denso holding a 51 percent stake and Toyota taking the remainder. Yoshifumi Kato, currently a Denso senior executive officer, will become its president.

Amid intensifying competition to develop auto parts for next-generation vehicles, Hitachi Ltd. and Honda Motor Co. said in October they will merge four auto parts suppliers under a new firm to respond to the emergence of autonomous and electric cars.

Nissan Motor Co., Renault SA and Mitsubishi Motors Corp. also said earlier this month that they agreed to set up a new company to jointly develop advanced technologies for next-generation vehicles with a focus on studying artificial intelligence.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
DENSO CORPORATION 0.07% 4481 End-of-day quote.-8.61%
TOYOTA MOTOR CORPORATION -0.37% 7729 End-of-day quote.1.71%
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Financials (JPY)
Sales 2020 29 999 B
EBIT 2020 2 567 B
Net income 2020 2 421 B
Debt 2020 13 701 B
Yield 2020 3,01%
P/E ratio 2020 9,34x
P/E ratio 2021 9,24x
EV / Sales2020 1,17x
EV / Sales2021 1,20x
Capitalization 21 435 B
Technical analysis trends TOYOTA MOTOR CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 8 516,67  JPY
Last Close Price 7 729,00  JPY
Spread / Highest target 29,4%
Spread / Average Target 10,2%
Spread / Lowest Target -21,1%
EPS Revisions
Managers
NameTitle
Akio Toyoda President, CEO & Representative Director
Takeshi Uchiyamada Chairman
Didier Leroy Director, Head-Sales & Operations
Koji Kobayashi CFO, Director, Chief Risk Officer & Executive VP
Shigeki Terashi Director, Chief Technology Officer & Executive VP
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