Toyota and Suzuki conclude memorandum towards business partnership

Toyota and Suzuki will explore possibility of co-operating in areas including the environment, safety, IT and mutual supply of products and components with the aim of jointly contributing to a resolution of social issues and achieving sound and sustainable development of an automobile-based society.

The companies have now concluded a memorandum following on from an announcement made last year concerning their interest in exploring a business partnership.

Toyota and Suzuki have agreed to work towards an early realisation of a business partnership. To that end, they will immediately set up an implementation framework aimed at realising the points agreed on today.

Akio Toyoda, Toyota president, said: “The words of chairman Osamu Suzuki at our joint press conference in October last year – ‘If you are running a company, you have to continue to take challenges. You are running your company for the benefit of society and this remains unchanged.’ – resonated deeply with me.

“This, I felt, was indeed the spirit of “let’s do it”. Both of our companies, which trace their roots to Enshu, intend to apply the spirit of “let’s do it” to the fullest, and we want to cooperate towards enabling all people throughout the world to truly experience the joy of mobility, and to achieving a society of future mobility full of smiles.”

Osamu Suzuki, Suzuki chairman, said: “Under the leadership of President Akio Toyoda, Toyota was enthusiastic throughout our discussions regarding partnership, even though such was sought by Suzuki, which was concerned about the development of advanced technologies. I want to express my heartfelt appreciation.

“In response to Toyota’s display of enthusiasm, Suzuki also intensively engaged in the discussions and we now stand at the starting point for building a concrete, co-operative relationship, I want to give this effort our fullest and to aim at producing results that will lead Toyota to conclude that deciding to work together with Suzuki was the right thing for them to have decided to do.”