TOKYO -- Toyota Motor Corp. has agreed to buy majority control of its manufacturing operations in Indonesia, while its local partner there will retain a majority stake in the distribution and sales operations.
P.T. Astra International Tbk owns 51 percent and Toyota owns 49 percent of their joint manufacturing and distribution venture, P.T. Toyota-Astra Motor. Toyota will raise its stake in the manufacturing entity to 95 percent. The two parent companies will keep the current split of the distribution entity.