In a bid to improve cooperation in the development of engines, Toyota Motor Corp. will soon purchase from Yamaha Corp. an equity stake of about 5 percent in motorcycle maker Yamaha Motor Co.
The presidents of the three companies said Monday that the 10.5 billion yen stake in the world's second largest motorcycle maker is being made in a bid to improve cooperation in the development of engines.
Both leading musical instrument maker Yamaha and Yamaha Motor will acquire 500,000 shares of Toyota on the market in a few days, they said. Consequently, the Yamaha group will have a total of 1 million Toyota shares, currently worth about 5 billion yen.