Toyota could be planning to increase its current 8.7 percent stake in Fuji Heavy Industries Ltd. – the company behind Subaru, reports Nikkei English News.
The transaction is said to be valued at over AUD$320million, with Toyota planning to increase its stake by 64.25 million shares to 17 percent.
Now the current majority shareholder, Toyota pursued Fuji in 2005 after General Motors ended its stake in the company.
Toyota and Subaru are currently collaborating to produce a low-cost spiritual successor to the AE86 with a lightweight, rear-drive, boxer-powered sports car.
The transaction will be reviewed by Japan’s Fair Trade Commission.