Fuji Heavy Industries/Toyota -dealer bulletin-
Posted: Tue Oct 11, 2005 9:29 pm
here's the message sent to all the dealerships from FHI regarding the GM/Toyota Shennanigans
October 5, 2005
Subaru Dealers:
As you may know, our parent company Fuji Heavy Industries announced today that it has agreed
to dissolve its strategic alliance and capital relationship with GM. FHI and GM entered into a
strategic alliance and capital relationship on December 10, 1999. Upon GM’s purchase of
approximately 20% of FHI shares, GM became the largest shareholder of FHI in April 2000.
These joint efforts over the past six years have resulted in achievements such as global
procurement, OEM business, technology exchanges, and more. However, the two companies
concluded that mutually beneficial joint projects are unlikely in the future, and came to an
agreement to terminate their affiliated company relationship.
In addition, FHI and GM have further agreed to stop the development of a crossover vehicle
between FHI and Saab Automobile AB, which was announced last year, and was to be built at
Subaru of Indiana Automotive.
GM owns 157 million shares of FHI stock, which accounts for approximately 20% of the FHI’s
outstanding common stock. Under the terms of the agreement, GM will sell 68 million shares or
8.7% to Toyota Motor Corp. GM will sell the remaining 89 million shares or 11.4% on the open
market. At the same time, FHI plans to repurchase 90 million shares of its stock to be classified
as Treasury stock.
Upon Toyota Motor Corp.’s purchase of FHI’s shares, Toyota Motor Corp. and FHI have agreed
to start studying potential business collaborations. The two companies plan to establish a joint
steering committee to study possible joint projects to seek synergies in the areas of research and
development and production.
Toyota Motor Corp. and FHI initiated business ties in 2003, when they announced that FHI would
feature Toyota Motor Corp.’s “G-BOOK” an in-vehicle network information services technology,
as “Subaru G-BOOK” for Subaru-branded vehicles in the Japanese market. Toyota Motor Corp
and FHI have come to view that, while they respect each other’s independence in management,
each side could further prosper by strengthening their business relationship, as global
competition intensifies.
Subaru of America, Inc.’s day-to-day business operations will not be affected by this new
collaboration, and we are firmly focused on setting another sales record this year. As always, we
appreciate your cooperation in achieving our common goals.
Sincerely,
Mr. Kunio Ishigami
Chairman, President and Chief Executive Officer
Subaru of America, Inc.
October 5, 2005
Subaru Dealers:
As you may know, our parent company Fuji Heavy Industries announced today that it has agreed
to dissolve its strategic alliance and capital relationship with GM. FHI and GM entered into a
strategic alliance and capital relationship on December 10, 1999. Upon GM’s purchase of
approximately 20% of FHI shares, GM became the largest shareholder of FHI in April 2000.
These joint efforts over the past six years have resulted in achievements such as global
procurement, OEM business, technology exchanges, and more. However, the two companies
concluded that mutually beneficial joint projects are unlikely in the future, and came to an
agreement to terminate their affiliated company relationship.
In addition, FHI and GM have further agreed to stop the development of a crossover vehicle
between FHI and Saab Automobile AB, which was announced last year, and was to be built at
Subaru of Indiana Automotive.
GM owns 157 million shares of FHI stock, which accounts for approximately 20% of the FHI’s
outstanding common stock. Under the terms of the agreement, GM will sell 68 million shares or
8.7% to Toyota Motor Corp. GM will sell the remaining 89 million shares or 11.4% on the open
market. At the same time, FHI plans to repurchase 90 million shares of its stock to be classified
as Treasury stock.
Upon Toyota Motor Corp.’s purchase of FHI’s shares, Toyota Motor Corp. and FHI have agreed
to start studying potential business collaborations. The two companies plan to establish a joint
steering committee to study possible joint projects to seek synergies in the areas of research and
development and production.
Toyota Motor Corp. and FHI initiated business ties in 2003, when they announced that FHI would
feature Toyota Motor Corp.’s “G-BOOK” an in-vehicle network information services technology,
as “Subaru G-BOOK” for Subaru-branded vehicles in the Japanese market. Toyota Motor Corp
and FHI have come to view that, while they respect each other’s independence in management,
each side could further prosper by strengthening their business relationship, as global
competition intensifies.
Subaru of America, Inc.’s day-to-day business operations will not be affected by this new
collaboration, and we are firmly focused on setting another sales record this year. As always, we
appreciate your cooperation in achieving our common goals.
Sincerely,
Mr. Kunio Ishigami
Chairman, President and Chief Executive Officer
Subaru of America, Inc.
seeing as this was dated the 5th, i'll post the next one up the day it comes out