Toyota Motor Corp., Japan’s No. 1 auto maker, announced today the establishment of a new subsidiary in the United States and routine reorganization and personnel changes in Japan to streamline operations.
The Nagoya-based company said a wholly owned subsidiary, Toyota Motor Corp. Services in North America Inc., will be established to help coordinate and support operations of its local subsidiaries in the United States.
The company said the new firm will enable Toyota to meet better its information-gathering needs in the United States and offer guidance and assistance in production preparations in its North American manufacturing operations.
“This will be important for Toyota as consumer needs continue to diversify and the company’s manufacturing facilities in North America move toward full-scale production,” the company said.
The new company, capitalized at $1 million, will be headquartered in New York and have branch offices in Washington, Detroit, and Lexington, Ky., where the company operates production facilities.