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Toyota Gobbles up More FHI/Subaru Shares Photo:
Mike Stevens | Jun, 28 2008 | 1 Comment

As we reported back in April, Toyota had been looking to take advantage of new Japanese laws which would allow them to increase their share percentage in Subaru's parent company Fuji Heavy Industries to around 17 percent. In the news today is the announcement that Toyota would indeed be increasing their share, bringing them to a total of 16.16 percent?up from the 9.50 percent they'd snapped up at a GM fire sale while out strolling one warm weekend.

What sort of damage does a 7 or so percent increase in FHI/Subaru do to your pocket? Well you'd be about $302 million lighter in the pants after that slice of pie. Not a bad haul though, as Toyota has boosted its bounty by 61 million treasury stocks. Yarr.

Will this new purchase bring us a little closer, a little faster, to the new entry-level Subaru/Toyota rear-wheel-drive sports car? Will it give us an "AWD" box to tick on our mum's next Corolla purchase? Only time, and covert corporate espionage, will tell.

[via Interactive Investor]

Filed under Toyota Subaru News
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