TOKYO, Nov 2, 2020 – (JCN Newswire) – SPARX Group Co., Ltd., Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., and Mizuho Bank, Ltd. announced today that they have signed a memorandum of understanding (MOU) to establish a new fund.
The fund will aim to invest in companies that are related to Japanese monozukuri (manufacturing). The partnership’s primary purpose is to contribute to the development of Japanese monozukuri by helping the companies with superior technology and human resources implement the Toyota Production System (TPS) and formulate management strategies, through the sustainable growth of these companies.
This objective is in line with the SDGs that the international community is addressing (including “decent work and economic growth” and “industry, innovation, and infrastructure”). Thus, the partnership will contribute to society by improving competitiveness in Japanese monozukuri in the face of the prolonged impact of COVID-19.
Furthermore, the five-firm partnership will consider the details of the size of the investment, other investors, and investment targets, with the goal of establishing the fund in early December.
About Toyota Motor Corporation
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.
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