September 20, 2019
JTEKT started to consider acquiring all the shares of Yutaka Seimitsu Kogyo, an automobile drive parts manufacturer, from Toyota Motor on July 10, 2019. Yutaka Seimitsu Kogyo is now a wholly owned subsidiary of Toyota Motor. Toyota Motor will transfer all stocks to JTEKT by January 2020 and determine the amount of sale by discussion. Toyota Motor will consolidate similar businesses within its group into one and adopt strategies to increase the efficiency of development and manufacturing. Yutaka Seimitsu Kogyo manufactures gears that distribute assign power to the left and right tires, and the JTEKT manufactures shafts that connect its gears to the tires.
Source: SEISANZAI MARKETING Magazine August 2019 issue
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