The International Herald Tribune quotes unnamed sources who are "not authorized to comment publicly on the matter" as saying that ToMoCo may double its stake in Fuji Heavy Industries, makers of Subaru vehicles. Toyota currently owns 8.7 percent of Fuji, and would be looking to spend some $295m to raise its stake to 17 percent. "Toyota wants to mitigate the risk of building new plants by utilizing Fuji Heavy's facilities both in Japan and the United States," says Seiji Sugiura, an analyst at HSBC Securities. "Other automakers would also want to reduce risks for each other by boosting ties, even if that wouldn't amount to mergers and acquisitions." According to reports from the Nikkei business daily, Toyota may be looking to subcontract its subcompacts (say that ten times fast) to a Japanese Fuji plant, and jointly develop a sports car and environmentally-friendly technologies. Toyota has said it will not increase its stake in Fuji beyond 20 percent, keeping the relationship with Fuji as a partner rather than a subsidiary.
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