Toyota Motor Corp. and Suzuki Motor Corp. are strengthening their relationship by taking stakes in each other, the latest alliance in an industry that’s facing sweeping changes in technology, consumer preferences and business models.
Japan’s biggest automaker will acquire about 5% of Suzuki shares for about $907 million (96 billion yen), while Suzuki will get a smaller holding valued at about 48 billion yen in Toyota, the automakers said in statements Aug. 28.
