Toyoda Gosei and Daicel Announce Enhanced Cooperation and Capital Tie-up
Kiyosu, Japan, May 19, 2017: Toyoda Gosei Co., Ltd. and Daicel Corporation (Osaka, Japan) have agreed to enhance cooperation in future business and enter into a capital tie-up.
The automobile industry is undergoing significant changes with the emergence of electric vehicles, fuel cell vehicles and self-driving vehicles. Automotive parts makers need to look ahead to the many changes and continuing evolution of the industry. To improve their ability to adapt to these circumstances and provide better products to the market, Toyoda Gosei and Daicel will strengthen their cooperative relationship, centered on the fields of safety and new plastics materials, and enter into a capital tie-up.
1. Enhanced Cooperation
Target Products (examples)
・Fuel system: Fuel caps, fuel tubes, other products
2. Content of Capital Tie-up
Toyoda Gosei and Daicel have agreed to a capital tie-up in the form of cross-holdings of common stock by each company in equal amounts. The acquisition price is expected to be a total of about 1 billion yen for each company.