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In Toyota and Suzuki alliance, two families find common ground

A capital tie-up 3 years in the making is hammered out in 3 months

Toyota President Akio Toyoda and Suzuki Chairman Osamu Suzuki attend an auto conference in 2017. The capital alliance between the two automakers has been years in the making.   © Reuters

TOKYO -- The formation of the capital partnership between Toyota Motor and Suzuki Motor, which spans an empire that produces 16 million vehicles globally, stemmed from a conversation that occurred only three months ago.

"I asked [Toyota] President Akio Toyoda for a capital alliance in May," Suzuki Chairman Osamu Suzuki told Nikkei Wednesday. Toyota will invest 96 billion yen ($907 million) in its counterpart, for a 5% stake, while Suzuki will hold a 48 billion-yen stake in Toyota.

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