Companies / Japan
Toyota Shows Its Metal
May 2008 | Company News AlertToyota has secured further shares in steelmaker Daido Steel, according to Japanese business daily the Nikkei, at time when rising input costs are hurting vehicle and steel producers alike. According to the report, Toyota has been accumulating shares in Daido since late 2007 and has spent a total of JPY7bn (US$67.3mn). Toyota has been sourcing speciality steel for its transmission components from Daido since 2006 and the deal is aimed at expanding the carmaker's network of speciality steel
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