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

TOYOTA MOTOR CORPORATION

(7203)
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Toyota to invest $500 million in KDDI to deepen ties for 'connected car'

10/30/2020 | 02:17am EST
The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi

TOKYO (Reuters) - Toyota Motor Corp and KDDI Corp said on Friday that Japan's biggest automaker would invest 52.2 billion yen ($500 million) in the mobile carrier to deepen their partnership in the age of the "connected car".

After decades of focusing on making and selling cars, Toyota is increasingly turning to partners to help develop expensive new vehicle technologies as it tries to transform itself into a mobility services company.

Under their new business alliance, Toyota and KDDI said they would jointly conduct research and development focused on telecommunication platforms that connect cars, homes, towns and users, among other projects.

To cement their ties, Toyota will buy 18.3 million treasury shares from KDDI, boosting its stake to 13.74% from 12.95%, on Jan. 29, they said in a statement.

As cars become more connected, the auto industry is facing competition from a growing number of global tech giants, including China's Tencent Holdings, Alphabet, Samsung Electronics.

This year, Toyota agreed with KDDI rival Nippon Telegraph and Telephone Corp (NTT) to work together on developing smart cities, with a 200 billion yen investment in each other.

(Reporting by Chang-Ran Kim; Editing by Tom Hogue and Gerry Doyle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.65% 1824.97 Delayed Quote.36.25%
KDDI CORPORATION -0.72% 2977.5 End-of-day quote.-8.47%
NIPPON TELEGRAPH AND TELEPHONE CORPORATION 1.26% 2498 End-of-day quote.-9.39%
SAMSUNG ELECTRONICS CO., LTD. 2.51% 69500 End-of-day quote.24.55%
TENCENT HOLDINGS LIMITED -0.69% 574 End-of-day quote.52.82%
TOYOTA INDUSTRIES CORPORATION 2.24% 7750 End-of-day quote.22.43%
TOYOTA MOTOR CORPORATION 0.87% 7079 End-of-day quote.-8.23%
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Financials
Sales 2021 25 573 B 245 B 245 B
Net income 2021 1 345 B 12 870 M 12 870 M
Net Debt 2021 16 192 B 155 B 155 B
P/E ratio 2021 14,6x
Yield 2021 3,15%
Capitalization 19 793 B 189 B 189 B
EV / Sales 2021 1,41x
EV / Sales 2022 1,29x
Nbr of Employees 359 542
Free-Float 62,1%
Chart TOYOTA MOTOR CORPORATION
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Technical analysis trends TOYOTA MOTOR CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 7 936,11 JPY
Last Close Price 7 079,00 JPY
Spread / Highest target 32,8%
Spread / Average Target 12,1%
Spread / Lowest Target -22,3%
EPS Revisions
Managers
NameTitle
Akio Toyoda President, CEO & Representative Director
Takeshi Uchiyamada Chairman
Kenta Kon Chief Financial Officer
Seiji Sakai Manager-Information Systems & IT Management
Masahito Maeda Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TOYOTA MOTOR CORPORATION-8.23%188 012
VOLKSWAGEN AG-16.72%94 002
DAIMLER AG16.45%74 203
GENERAL MOTORS COMPANY22.08%63 951
BMW AG1.63%58 116
HONDA MOTOR CO., LTD.-1.68%47 987