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    7269   JP3397200001

SUZUKI MOTOR CORPORATION

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Suzuki, Daihatsu join Toyota-led electric, green drive for minicars

07/21/2021 | 05:08am EDT

Suzuki Motor Corp. and Daihatsu Motor Co. said Wednesday they will join an initiative led by Toyota Motor Corp. to accelerate electrification and carbon neutrality in commercial vehicles.

Suzuki and Daihatsu will each acquire a 10 percent stake in Commercial Japan Partnership Technologies Corp., a joint company funded by Toyota and smaller manufacturers Isuzu Motors Ltd. and Hino Motors Ltd.

The envisaged partnership is designed to promote more connected, autonomous, shared and electrified vehicles for commercial use.

Daihatsu and Suzuki are major makers of minicars with engines of up to 660 cc. Such smaller and low-cost vehicles are popular in Japan, accounting for about 40 percent of cars sold.

"Minicars serve as Japan's practical and sustainable lifelines. Now CASE and carbon neutrality are calling for a major change," Toyota President Akio Toyoda said during an online press briefing.

Daihatsu is a wholly owned subsidiary of Toyota. Toyota has a 4.9 percent stake in Suzuki, expanding their partnership in such fields as electrification.

Toyota, Isuzu and Hino are seeking to promote eco-friendly and autonomous driving trucks via Commercial Japan Partnership Technologies launched in April.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ISUZU MOTORS LIMITED 0.54% 1482 End-of-day quote.51.22%
SUZUKI MOTOR CORPORATION 1.17% 5193 End-of-day quote.8.59%
TOYOTA MOTOR CORPORATION 0.80% 10020 End-of-day quote.25.93%
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Analyst Recommendations on SUZUKI MOTOR CORPORATION
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Financials
Sales 2022 3 568 B 32 429 M 32 429 M
Net income 2022 177 B 1 607 M 1 607 M
Net cash 2022 556 B 5 052 M 5 052 M
P/E ratio 2022 14,3x
Yield 2022 1,93%
Capitalization 2 522 B 22 949 M 22 924 M
EV / Sales 2022 0,55x
EV / Sales 2023 0,49x
Nbr of Employees 68 739
Free-Float 84,4%
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Mean consensus BUY
Number of Analysts 16
Last Close Price 5 193,00 JPY
Average target price 5 590,00 JPY
Spread / Average Target 7,64%
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Managers and Directors
Toshihiro Suzuki President & Representative Director
Osamu Honda Representative Director & Technical Supervisor
Toshiaki Hasuike Director, VP, Head-Production & Technology
Kinji Saito Director & Senior Managing Executive Officer
Takanori Suzuki Director & Senior Managing Executive Officer
Sector and Competitors
1st jan.Capi. (M$)
SUZUKI MOTOR CORPORATION8.59%22 949
TOYOTA MOTOR CORPORATION25.93%252 800
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