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Toyota, Subaru to boost ties with additional investment -sources

Credit: REUTERS/MAXIM SHEMETOV

Toyota Motor Corp and Subaru Corp aim to strengthen their partnership by investing in each other, two people with direct knowledge of the matter said on Friday.

TOKYO, Sept 27 (Reuters) - Toyota Motor Corp 7203.T and Subaru Corp 7270.T aim to strengthen their partnership by investing in each other, two people with direct knowledge of the matter said on Friday.

Toyota would boost its stake in Subaru to more than 20% from the current 16.7%, and is set to approve the decision at a board meeting on Friday, the people said. Subaru would reciprocate with a stake in Toyota that would roughly equal the value of Toyota's additional investment, one of them said.

The sources declined to be identified because the information is not yet public.

(Reporting by Maki Shiraki Writing by Chang-Ran Kim Editing by David Dolan)

((ran.kim@thomsonreuters.com; +81-3-6441-1804))

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