What company did Toyota buy out?

As of 2025, Toyota has not completed a widely publicized full buyout of another company. Instead, the automaker has expanded its footprint through strategic partnerships, joint ventures, and minority stake investments that accelerate technology sharing and global production capabilities.

The term "buyout" can mean different things in corporate terms. For Toyota, growth in recent years has come primarily from alliances and collaboration rather than purchasing a competitor outright. This article updates the context and outlines notable moves that resemble a purchase in effect but remain structured as partnerships or stakes.

Context: What counts as a buyout and why Toyota's strategy matters

In corporate language, a buyout typically implies acquiring majority or 100% ownership of another company, sometimes followed by integrating it into the existing corporate umbrella. Toyota’s strategy has emphasized risk-sharing, supply-chain resilience, and rapid tech development through joint ventures and cross-investments, which can deliver scale and access without converting another firm into a wholly owned subsidiary.

Toyota's track record and current approach

Across decades, Toyota has grown through a mix of internal consolidation, supplier relationships, and external partnerships. In the modern era, the company has generally pursued alliances rather than sweeping outside acquisitions. The result is a network of co-developed platforms and shared technologies—rather than a single “buyout” that would bring an independent company under Toyota's direct ownership.

Recent strategic moves that resemble a buyout in effect

Mazda Toyota Manufacturing (MTM)

Mazda Toyota Manufacturing is a 50-50 joint venture established to produce vehicles in the United States for both brands. It showcases Toyota’s preference for collaboration when expanding production capacity and market reach, rather than purchasing Mazda outright.

Prime Planet Energy & Solutions (PPES) with Panasonic

In 2020, Toyota and Panasonic launched PPES to co-develop and produce automotive lithium-ion batteries. The venture is owned jointly by the two firms, illustrating a strategic alliance that accelerates battery technology without a full acquisition of Panasonic by Toyota.

Ongoing partnerships with Suzuki and Isuzu

Over the past decade, Toyota has deepened collaborations with Suzuki and Isuzu on technology, platform sharing, and commercial-vehicle development. These arrangements involve equity ties and joint programs rather than taking over the entire company.

Implications for stakeholders

For investors, the focus on partnerships can offer access to new markets, shared R&D costs, and quicker technology adoption while maintaining a diversified corporate structure. For customers, it can mean more integrated products and services and faster delivery of electrified and connected vehicles. For the auto industry, Toyota's approach signals a broader trend toward collaboration in a rapidly evolving mobility landscape.

Summary

In summary, Toyota has not publicly completed a large-scale, full buyout of an external company in recent years. Its growth has been driven by strategic partnerships, joint ventures, and minority stakes that extend its manufacturing footprint and accelerate technology development. Notable examples include the MTM joint venture with Mazda and the PPES battery venture with Panasonic, alongside ongoing collaborations with other partners.

What companies does Toyota own?

Toyota owns the automotive brands Lexus, Daihatsu, and the namesake Toyota, and has significant stakes in other companies like Subaru, Mazda, Suzuki, and Isuzu. Toyota also wholly owns subsidiaries such as Hino (commercial vehicles) and has a large group of companies that support its manufacturing, including Denso, Aisin, and Toyota Industries.
 
Wholly-owned and majority-owned brands

• Lexus: Toyota's luxury vehicle brand. 
• Daihatsu: A company specializing in smaller vehicles, fully owned by Toyota. 
• Hino Motors: A manufacturer of commercial vehicles like trucks and buses, majority-owned by Toyota. 
• Century: A luxury car brand in the Toyota group. 

Other brands and companies

• Subaru: Toyota holds a 20% stake in Subaru Corporation.
• Mazda: Toyota holds a 5.1% stake in Mazda.
• Suzuki: Toyota holds a 4.9% stake in Suzuki.
• Isuzu: Toyota holds a 4.6% stake in Isuzu.
• Yamaha Motor Corporation: Toyota holds a 3.8% stake.
• Panasonic: Toyota holds a 2.8% stake. 

Toyota group companies

• Toyota Industries: Originally a textile machinery company, now a leader in materials handling and a key supplier of parts for the automotive group.
• Denso: A global automotive supplier of electronics and climate systems.
• Aisin: Produces drivetrain, chassis, and safety components.
• Toyota Financial Services: Handles financing, leasing, and insurance for customers and dealerships. 

What companies has Toyota acquired?

Toyota has been active in recent acquisitions, most notably the potential $42 billion buyout of Toyota Industries by Chairman Akio Toyoda in 2025, which aims to increase control over the group and secure key technologies. Other recent and notable acquisitions include the purchase of Siemens Logistics by Toyota Industries in November 2024, the acquisition of Radius Recycling by subsidiary Toyota Tsusho America in July 2025, and the 2021 acquisition of Renovo Motors by Woven Planet (now Woven by Toyota) to develop vehicle software. Additionally, in 2025, Toyota and Daimler Truck formed a new joint company, ARCHION, which will fully own and oversee their respective commercial truck businesses, Hino and Fuso. 
Recent and proposed major acquisitions

• Toyota Industries (Proposed 2025): Toyota's Chairman, Akio Toyoda, proposed a buyout of the major supplier, Toyota Industries, in a potential $42 billion deal. This move could consolidate the group's structure and provide greater control over key components and technologies. 
• Siemens Logistics (Completed Nov 2024): Toyota Industries acquired this German company, which specializes in parcel and airport logistics services, for $326 million. 
• ARCHION (Formed Oct 2025): A new holding company created by Toyota and Daimler Truck to fully own and oversee their commercial truck operations, Hino and Fuso. 
• Radius Recycling (Completed July 2025): Toyota Tsusho America acquired the North American recycling company to expand its circular economy initiatives and secure recycled materials. 

Other significant acquisitions

• Renovo Motors (Completed Sept 2021): Toyota's subsidiary, Woven Planet Holdings, acquired the Silicon Valley-based automotive operating system developer to advance its mission of creating "the most programmable vehicles on the planet". 

Is Subaru owned by Toyota now?

No, Toyota does not own Subaru, but it owns just over 20% of the company, making Subaru an affiliated company. This strategic partnership allows them to share technology and collaborate on vehicle development, such as the Toyota 86/Subaru BRZ sports car. Subaru still operates independently with its own branding and operations.
 

• Ownership structure: Toyota is Subaru's largest shareholder with a stake of slightly over 20%, but Subaru remains an independent company. 
• Strategic partnership: The two companies have a close partnership and collaborate on various projects. 
• Shared projects: Notable examples of their collaboration include the co-development of the Subaru Solterra/Toyota bZ4X electric crossover and the Subaru BRZ/Toyota 86 sports car. 
• Technology sharing: They share technology, particularly in areas like hybrid systems and electric vehicle development, and plan to collaborate on future EV platforms. 
• Independent operation: Despite the significant ownership stake and collaboration, Subaru maintains its own management structure and brand identity. 

What company is merging with Toyota?

Daimler Truck
Toyota Motor Corp. and Daimler Truck have agreed to merge their subsidiaries Mitsubishi Fuso and Hino Motors as equals to create a “Japanese truck powerhouse,” according to a June 10 press release.