GT Capital, a Philippines-based conglomerate involved in the finance, property and automotive sectors, is investing over $200mn in Toyota Motor.
GT Capital Holdings stated on Thursday that it will buy shares in the Japanese car manufacturer set to be worth up to $201.6mn.
The investment will be the first offshore investment for GT Capital, with the share purchase to be debt funded and executed on the Tokyo Stock Exchange.
GT Capital and Toyota already go-own Toyota Philippines, according to Reuters, with Toyota owning 49% and GT owning 51%.
Toyota Motor has also this week announced its new CIO for North America, Manjit Singh. Singh will utilise his IT experience to help oversee strategy, development and operation of Toyota’s technology development in America.