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Subaru Confirms Toyota as Affiliated Company With 21.5% Voting Right

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Subaru (TYO:7270) said Toyota (TYO:7203) holds a 21.5% voting stake in the company as of March 31, classifying Toyota as an other affiliated company, according to a Tokyo bourse filing on Monday.

The two automakers have been jointly developing models including the GR86/BRZ and battery electric vehicles since forming a business alliance in 2005.

Subaru also receives OEM supply of mini vehicles and compact cars from Toyota's consolidated subsidiary, Daihatsu Motor.

Despite the close ties, Subaru stated that its independence is secured to a certain extent, as it operates its business without any operational constraints imposed by Toyota.

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