Toyota and Suzuki make a virtue of cross-holdings

Toyota and Suzuki make a virtue of cross-holdings, says KatrinaHamlin:

Toyota Motor said on Aug. 28 it would buy a 4.94% stake in smaller rival Suzuki Motor for about 96 billion yen and that Suzuki would acquire about 48 billion yen worth of shares in Toyota.

The companies said earlier this year they would produce electric vehicles and compact cars for each other. Suzuki’s shares were up 1.3%, to 4,136 yen, in morning trading in Tokyo on Aug. 29 while Toyota’s dipped slightly, to 6,880 yen.

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