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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toyota Industries Corporation    6201   JP3634600005

TOYOTA INDUSTRIES CORPORATION

(6201)
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Fiat, PSA to win EU approval for merger - sources

10/26/2020 | 08:56am EST

Fiat Chrysler and PSA look set to win EU approval for a $38 billion merger that would create the world's number-four carmaker.

That's according to sources close to the matter.

The automakers hope the tie-up will help fund a shift to cleaner vehicles.

If the EU gives the go-ahead it would formalize the creation of a group called Stellantis.

It could use profits made from selling pickup trucks and SUVs in the U.S. to pay for the development of zero-emission vehicles for sale in Europe and China.

The all-share merger was announced late last year, and would unite brands such as Fiat, Jeep and Dodge with the likes of Peugeot and Citroen.

It would also aim to make annual cost cuts of $6 billion without closing factories.

To allay EU antitrust concerns PSA has offered to strengthen Japanese rival Toyota - with which it has a van joint venture - by ramping up production and selling vans at close to cost price.

FCA and PSA will also allow their dealers in certain cities to repair rival brands.

The sources said the EU decision could come by the end of the year - ahead of the official deadline of February 2.

The two automakers have said they hope to complete merger by the first quarter next year.

The European Commission and Italian-American group Fiat Chrysler declined to comment.

France's PSA also did not immediately respond.

Shares were up in both companies Monday - PSA rose around 3%, while Fiat Chrysler gained as much as 6%.


© Reuters 2020
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Financials
Sales 2021 1 996 B 19 224 M 19 224 M
Net income 2021 105 B 1 013 M 1 013 M
Net Debt 2021 894 B 8 613 M 8 613 M
P/E ratio 2021 23,4x
Yield 2021 1,64%
Capitalization 2 437 B 23 475 M 23 476 M
EV / Sales 2021 1,67x
EV / Sales 2022 1,53x
Nbr of Employees 66 478
Free-Float 48,7%
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Technical analysis trends TOYOTA INDUSTRIES CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 7 422,86 JPY
Last Close Price 7 850,00 JPY
Spread / Highest target 27,4%
Spread / Average Target -5,44%
Spread / Lowest Target -27,4%
EPS Revisions
Managers
NameTitle
Akira Onishi President & Representative Director
Tetsuro Toyoda Chairman
Kazue Sasaki Representative Director, VP & GM-Technology
Taku Yamamoto Director & Executive Officer
Yojiro Mizuno Director & Executive Officer
Sector and Competitors
1st jan.Capitalization (M$)
TOYOTA INDUSTRIES CORPORATION24.01%23 016
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