Toyota Motor Corp. will take control of Daihatsu Motor Co. by increasing its 34.5 percent stake to 51.2 percent, making Daihatsu its subsidiary, top executives of the two automakers jointly announced Friday.

Toyota, the country’s largest automaker, will purchase 71.45 million stocks of Daihatsu at 519 yen per share through takeover bids between Aug. 31 and Sept. 21. An estimated 37.1 billion yen is needed for the purchase, they said.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.