TOKYO (dpa-AFX) - Toyota Motor Corp. (TYT.L, TM) or TMC, its wholly owned subsidiary Toyota Motor Sales and Marketing Corp. or TMSM, and Toyota Marketing Japan Corp. or TMJ, a wholly owned subsidiary of TMSM, have agreed to consolidate TMSM into TMC. Under the same agreement, Toyota Marketing Japan's motorsports functions will be transferred to Toyota Motor Corp.
Toyota Motor Sales and Marketing Corp. will begin the transfer of its activities to TMC on April 1, before officially merging with TMC on July 1. After the merger, TMSM's wholly owned subsidiaries TMJ, Delphys Inc., Amlux Toyota Co., Ltd., and Toyota Automall Development Corp. will become wholly owned subsidiaries of TMC.
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