Three auto parts makers affiliated with Toyota Motor Corp. said Friday they have agreed to merge by Oct. 1, 2004, to create one of the world's leading automobile interior component manufacturers.
Araco Corp., TakaNichi Co. and Toyoda Boshoku Corp., which manufacture interior parts such as seats, door trims and carpets, said the merger is designed to survive intense global competition.
The combined sales of the three companies on an unconsolidated basis for fiscal 2002 through the end of March this year stood at about 620 billion yen.
Toyoda Boshoku will be the surviving entity in the merger, the companies said.